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Mobility as a Service (MaaS) Market Trends

Report ID: GMI6719
Published Date: Jul 2024
Report Format: PDF

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Mobility as a Service Market Trends

Partnerships in mobility advancements play a pivotal role in propelling the mobility as a service industry demand. Collaborations between companies with complementary expertise foster innovations and accelerate the development of integrated solutions. For instance, in June 2023, Kakao Mobility of South Korea and Vietnam's Phenikaa Group established a business agreement to promote collaboration in the technology sector of mobility platforms. Under this agreement, Kakao contributed its expertise in platform development to Phenikaa MaaS, facilitating collaborative efforts to explore future advancements in mobility. This collaboration aimed to leverage the core competencies of Phenikaa-X for joint development within the mobility sector.

The integration of advanced technologies including Artificial Intelligence (AI) is fostering the mobility as a service market revenue. AI enhances route optimization, predictive analysis, and personalized user experiences, improving the overall efficiency. Automation in payments and real-time data analysis further streamlines MaaS operations. This technological integration not only enhances service quality but also attracts users, boosting the market's success. As AI is advancing, it will play a pivotal role in shaping MaaS into a more intelligent, user-centric, and efficient urban mobility solution.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of mobility as a service reached USD 678.1 billion in 2023 and is set to grow at 11.6% CAGR from 2024 to 2032, owing to the proliferation of smartphones and advanced transportation apps.

bThe Android segment held around 70% revenue share in 2023 and is pivotal in propelling the market growth as Android-based platforms offer a robust and versatile ecosystem for developing mobility as a service application, enabling seamless integration of various transportation services & functionalities.

Europe held a dominant market share of over 38% in 2023 and will surpass USD 233 billion by 2032, backed by the rapid urbanization and population growth in major cities, leading to increased traffic congestion & pollution.

MOBIKO, Europcar, Curb Mobility, Uber Technologies Inc., HERTZ SYSTEM, INC., Beijing Xiaoju Technology Co., Ltd., Lyft, Inc. (U.S.), Careem, and movmi Shared Transportation Services Inc.