The mobility as a service (MaaS) market is projected to grow at a CAGR of 31.7% from 2020 to 2030, and the market size is expected to grow from USD 6.8 billion in 2020 to USD 106.8 billion by 2030. MaaS offers efficient solutions to move traffic in more convenient, faster, and less expensive manner.
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Also, the growth of the telecom sector, widespread penetration of smartphones on 3G, 4G, and 5G networks, and high connectivity levels will facilitate the growth of this market, reports Markets&Markets.
Private transportation segment will hold the largest share of the MaaS market
The private transportation segment includes services such as ride hailing, car sharing, and micro mobility. These services are easy to integrate into the MaaS platform. MaaS efficiently combines various mobility services from public transport and private transport under a single platform that can be accessed from a smartphone. The growing need for personal mobility in the wake of rising urbanization and the fall in car ownership are the major factors contributing to the growth of private transportation segment in the MaaS market. In future, MaaS will make it unnecessary for any city resident to own a private car and hence the private transportation service segment will show significant growth.
Android will be the most widely used operating system of MaaS and will show the fastest growth
The Android segment of the Mobility as a service (MaaS) market, by application OS, is estimated to have the highest market share in 2020 and 2030. There are two major types of operating systems used in the smartphones- Android and iOS. The share of MaaS market is higher in the regions such as Europe and North America where the usage of iOS is predominant.
Europe is estimated to be the largest geographical segment of the MaaS market
Europe is the largest market as it is the early adopter of MaaS. Many European countries, including the UK, Germany, France, and the Netherlands have been investing in smart transportation infrastructure. The planned investments to improve urban transport and traffic infrastructure are expected to drive the European MaaS market.
The North American market is estimated to hold the second position at the global level by the year 2020. North America comprises major countries such as the US and Canada, which have advanced road infrastructure. Most of the disruptive mobility startups in the industry are headquartered in the US. The North American market is growing owing to the surging internet penetration, increasing preference of millennials for these services, and the development of semi-autonomous and autonomous vehicles.
However, more than half of the world’s population lives in developing countries where the usage of Android phones is higher than iOS phones. With the growth of MaaS market in Asia Oceania and RoW region the growth of Android application will also be prevalent and the market will register the fastest growth.
The MaaS market is dominated by global players and comprises several regional players as well. The key players in the MaaS market are Whim (Finland), Citymapper (UK), Moovit (Israel), Mobilleo (England), Skedgo (Australia), Ubigo (Sweden), Smile mobility (Australia), Splyt (UK), Qixxit (Germany), and Beeline (Singapore).
The report “Mobility as a Service Market by Service (Ride Hailing, Car Sharing, Station Based Mobility, Bus Sharing, Train), Solution (Platforms, Payment, Navigation, Telecom Connectivity, Ticketing, Insurance), Transportation (Public, Private), Vehicle, Application, and Region – Global Forecast to 2030″