Latest News- Mobility-As-A-Service Market: Ride hailing is expected to lead the Service segment during 2025-2029

The Mobility-As-A-Service Market is being driven by Increase in use of smart connected devices

The Mobility-As-A-Service Market is expected to grow at a CAGR of 25.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 270.8 million. The Mobility-as-a-Service (MaaS) market is witnessing significant interest from both independent car-hailing and sharing companies, as well as automotive manufacturers. Notable industry players, such as Daimler AG, Uber Technologies Inc., and BMW AG, are investing in the development of their own MaaS platforms. In April 2018, Uber Technologies Inc. expanded its business by acquiring JUMP Bikes, an electric bike-sharing company, with the intention of transforming its mobile app into a multimodal platform offering seamless access to car-hailing/sharing, bike-sharing, and public transit networks. Similarly, Daimler AG's subsidiary, Moovel Group GmBH, founded in 2015, provides MaaS mobile applications. These strategic moves reflect the growing importance of integrated, multimodal transportation solutions in today's market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Service
  • Ride hailing
  • Car sharing
  • Others
• Vehicle Type
  • Cars
  • Buses
  • Two-wheelers
• Solution
  • Technology platforms
  • Payment engines
  • Navigation solutions
  • Ticketing solutions
  • Insurance services
• Application
  • Personalized application services
  • Journey management
  • Journey planning
  • Flexible payments & transactions
• End-User
  • Individual Consumers
  • Corporate Users
  • Government Agencies
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in use of smart connected devices
• Increasing demand for efficiency in operations
• Shift in adoption from CAPEX model to OPEX model

However, the market also witnesses some limitations, which are as follows:

• Poor connectivity of devices
• Data privacy issues
• Need for high initial investments in infrastructure

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Market Scope in Mobility-As-A-Service Market Research Report

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Research Analysis Overview

The Mobility-as-a-Service (MaaS) market encompasses various offerings, including Mobility-as-a-Platform (MaPaaS) and Mobility-as-a-Product (MaPrS). These platforms provide on-demand mobility solutions with real-time traffic information, dynamic routing, and predictive analytics. Mobility data management is crucial, ensuring data security, privacy, sharing, monetization, and governance. Data analytics, insights, visualization, integration, collection, aggregation, processing, analysis, interpretation, reporting, storytelling, and dashboard presentation are essential components of MaaS.

Market Research Overview

The global passenger ground transportation market encompasses businesses involved in passenger ground transportation services and related sectors, such as bus, taxi, vehicle rental, ridesharing platforms, and other passenger logistics. According to Technavio, the market size is determined by the consolidated revenue of companies operating within the passenger land transportation industry, including vehicle rental, leasing, ridesharing, on-demand ride-sharing platforms, and additional passenger logistics. The market growth is influenced by several factors, including the increase in disposable income and the widespread availability of subscription-based mobility solutions, such as self-driving car rentals. These trends have significantly altered the way people commute and travel, fostering the expansion of shared mobility, multimodal transportation, smart mobility, connected vehicles, and autonomous vehicles.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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