Mobility as a Service Market Share, Size, Trends and Growth Opportunities
The mobility as a service market, which generated a revenue of $171.5 billion in 2018, is predicted to grow to $347.6 billion in 2024, at an 11.9% CAGR during 2019¬–2024 (forecast period).
Car rental was the largest service type category in the market during 2014–2018 (historical period), as a result of the rapid shift from offline booking to online booking and expanding travel and tourism sector.
A major trend in the mobility as a service market is the adoption of electric vehicles for sharing purposes. Concerned at the high pollution levels and fossil fuel prices, the government of various nations are formulating policies and offering incentives to encourage the usage of electric vehicles in sharing fleets.
Additionally, several automotive giants are also taking efforts to offer mobility services on clean-energy vehicles. For instance, plans of launching a sharing service, solely on electric cars, were announced by Hyundai Motor Company in 2019.
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Competitive Landscape of mobility as a service market
The global mobility as a service market is moderately consolidated, characterized by the presence of players such as Uber Technologies Inc., Beijing Xiaoju Technology Co. Ltd. (Didi Chuxing), ANI Technologies Pvt. Ltd. (Ola), Hertz Global Holdings Inc., Sixt SE, Car2Go Ltd., Lyft Inc., Grab Holdings Inc., Enterprise Holdings Inc., Avis Budget Group Inc., and Europcar Mobility Group S.A.
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