Mobility as a Service Market

Mobility as a Service Market Outlook from (2024 to 2034)

The mobility as a service market size was projected to be USD 137.6 billion in 2023. By the end of 2024, the industry is likely to reach a valuation of USD 185.6 billion.

During the forecast period, the global market for mobility as a service is expected to garner a 38.30% CAGR and reach a size USD 4,739.80 billion by 2034.

Key industry Trends and Highlights

• User centric solutions- In order to improve user experiences and keep up with changing consumer tastes and expectations in the ever changing mobility environment, key companies place a high priority on user centric innovations. They concentrate on real time data accessibility, custom services, and user friendly interfaces.
• Emphasis on data driven decisions- The market emphasizes how companies are spending more and more on data analytics and insights. Companies use data driven strategies to optimize resource allocation, route planning, and service improvements, which helps to create a more responsive and adaptable mobility as a service environment.

Attributes	Details
Estimated Market Value in 2023	USD 137.6 billion
Expected Market Value in 2024	USD 185.6 billion
Expected Market Value in 2034	USD 4,739.80 billion
Value based CAGR from 2024 to 2034	38.30%

2019 to 2023 Historical Analysis vs. 2024 to 2034 Industry Forecast Projections

Report Attributes	Details
Market value in 20137.6	USD 43.3 billion
Market value in 2023	USD 137.6 billion
CAGR from 20137.6 to 2023	33.50%

During the historical period, the mobility as a service market expanded at a 33.50% CAGR. Demand for mobility as a service is expanding, and this is driving the global demand. A major factor contributing to this demand is customer preferences shifting from ownership to access and from flexible to affordable to on demand transportation options.

Global government support and efforts, such as shared mobility rules, subsidies, as well as investments in smart infrastructure, are driving the rise of mobility as a service and creating favorable conditions for its development.

Key Drivers of the Global Mobility as a Service Market

• Rapid advancements in technology, such as 5G connection, artificial intelligence, and the Internet of Things (IoT), enable mobility as a service platforms to deliver advanced, real time services that improve user experience overall and encourage adoption.
• The need for easy, on demand mobility solutions is being driven by the growing global trend of urbanization combined with changing consumer lifestyles, which is fueling the rise of the mobility as a service industry.
• Mobility as a service is being adopted increasingly due to rising environmental awareness and a dedication to sustainable practices. This is providing eco-friendly transportation choices and driving the market.

Challenges in the Global Mobility as a Service Market

• A unified mobility as a service ecosystem cannot be formed until there is seamless communication and integration between various transport providers and technologies, which is still a difficulty.
• The regulatory frameworks governing various transportation modes under mobility as a service might be inconsistent and contradictory, which makes it difficult to integrate them seamlessly.
• Large scale personal data management creates privacy and data security issues for users, hence strong security measures are needed to build and preserve confidence in mobility as a service platform.

Country wise Insights

The table below lists the top five nations expected to forecast prominent growth during the forecast period. Japan and Australia are predicted to have the maximum development among these nations.

Key Statistics

• The United States market for mobility as a service is likely to garner a 36.10% CAGR during the forecast period.
• The mobility as a service market in Japan is poised to expand at a 39.50% CAGR from 2024 to 2034.
• The market in Germany for mobility as a service is poised to develop at a 37.70% CAGR during the forecast period.
• The China market for mobility as a service is likely to expand at a 38.80% CAGR from 2024 to 2034.
• The Australia mobility as a service market is poised to expand at a 41.80% CAGR during the forecast period.

Forecast CAGRs from 2024 to 2034

Country	CAGR from 2024 to 2034
The United States	36.10%
Japan	39.50%
Germany	37.70%
China	38.80%
Australia	41.80%

Shared and Safe Mobility to Boost the Growth throughout the United States

Adoption of sustainable and shared mobility options is driven by growing environmental consciousness and is consistent with eco friendly practices. The need for convenient, integrated urban transportation solutions is driving the market for mobility as a service in the United States.

Mobility as a service applications enable consumers to conveniently access, arrange, and pay for a variety of transportation services, which is made possible by advancements in digital technology and the widespread usage of smartphones. The need for mobility as a service system that provides integrated, user friendly solutions is driven by the need for seamless travel experiences.

Focus on Travel Convenience for both the Young and the Elderly in Japan

MaaS platforms are encouraged to be integrated for improved convenience when traveling both urban and rural regions by the advanced and well developed public transportation system of the country. Effortless, time saving features of mobility as a service platform fit in well with strong regional cultural focus on efficiency, which helps explain why it is so popular there.

The possibilities of MaaS for shared mobility are in line with the emphasis on technological innovation and environmental sustainability. MaaS is a desirable option for maximizing transportation resources in Japan owing to its small urban landscapes as well as high population density. The growing mobility requirements of the elderly population of Japan underscore the need and demand for MaaS.

Innovation in the Automotive Sector to Enhance the MaaS Adoption in Germany

The well developed public transport network of the country facilitates the smooth integration of mobility as a service platform for both local and long distance travel. Germany supports eco friendly and shared transportation solutions through its dedication to sustainable practices, which is in line with mobility as a service offers.

The tech savvy adoption of MaaS systems is facilitated by the emphasis on innovation by the automotive industry. The popularity of mobility as a service is further increased by regional emphasis on privacy and data security, which raises customer confidence in digital platforms.

Rapid Industrialization in China to Bolster the Regional Demand

Rapid urbanization and the growth of the middle class need the use of MaaS platforms to deliver effective, networked transportation solutions. The environmentally friendly features of mobility as a service complement the government goals of sustainable urban development.

MaaS applications integrate easily in China due to the strong digital environment and broad mobile penetration of the country. The focus on state of the art technology and innovation increases the popularity and adoption of mobility as a service in the China mobility landscape.

Shift Towards Integrated and Sustainable Practices in Australia to Propel Demand

Mobility as a service is being used by the large and resource intensive sectors of Australia, such as mining and energy, in order to optimize operational operations. The dedication of the country to effectively and sustainably exploiting resources highlights the significance of mobility as a service in these fields.

Mobility as a service solutions are essential for controlling and monitoring operations due to its geographical difficulties, which include harsh conditions and distant places. Their national strategy to integrate mobility as a service for industrial growth is unique in that it recognizes the necessity for resilient and adaptable technology in the face of these obstacles.

Category wise Insights

On the basis of solution, the market has been segmented into journey planning & management solutions, payment solutions, booking & ticketing solutions, application technology solutions and others. The majority of the market share is likely to be generated by the application technology solutions in 2024.

Based on services, the market has been divided into ride hailing services, ride sharing services, micromobility services, public transport services and others. In 2024, the public transportation segment is forecast to acquire a market share of 59%.

Category	Market share in 2024
Application technology	25%
Public transportation	59%

Ease of Booking and travel Convenience to Boost the Demand for Application Technology

The application technology by solutiontype is expected to acquire a market share of 25% in 2024. The potential of application technology solutions to improve user accessibility and experience has led to their increasing popularity in the global mobility as a service (MaaS) market. With mobile applications, consumers may conveniently schedule, book, and pay for a variety of transportation services on centralized platforms.

By combining several forms of transportation, these applications provide customers with a complete and networked mobility solution. Application based MaaS solutions are becoming more and more popular due to their personalized features, real time updates, and ease of use.

These solutions offer users efficient, adaptable, and convenient transportation experiences, which encourages users to adopt these technologies in the rapidly changing global mobility landscape.

Cost Effectiveness of Public Transportation is Boosting Demand for MaaS

Based on the service type, the public transportation segment is anticipated to take up a significant global market share. In 2024, the public transportation segment is likely to acquire a 59% global market share.

Public transportation services have become more popular in the global mobility as a service (MaaS) market owing to its emphasis on shared mobility, affordability, and environmental sustainability. As cities become more populated and environmental issues become more pressing, people are looking for alternatives to owning their own cars.

MaaS platforms facilitate the integration of public transportation alternatives, providing uninterrupted communication across shared modes such as buses and trains. Users are encouraged to choose eco friendly and economical travel when they can easily plan, reserve, and pay for a variety of public transportation options using a single, app based system.

Competitive Landscape

Companies in the global mobility as a service (MaaS) market are implementing innovative strategies in order to maintain their competitiveness. In order to establish a smooth and integrated network of services, some are taking use of strategic alliances with other transportation companies. This approach improves the user experience by providing all inclusive and cohesive solutions.

Data driven optimization is becoming more and more popular. In this manner, companies examine traffic patterns, user behavior, and demand changes using artificial intelligence and advanced analytics. This allows for real time modifications, guaranteeing effective resource distribution and a flexible MaaS ecosystem that adapts to changing client requirements. These tactics demonstrate the dedication of the industry to promoting cooperation and utilizing technology to provide a more efficient and user focused mobility experience.

Some prominent developments by the key companies in this domain are as follows

Company	Key Developments
MaaS Global	In 2022, MaaS Global declared their licensing agreement with Unipol, a significant Italian insurance provider, to implement MaaS, but it was unable to provide many further specifics regarding the project. In an effort to avoid insolvency, the seven year old start up is implementing a B2B strategy for its groundbreaking Whim MaaS platform as part of this arrangement. The financially stressed startup will license its MaaS technology and expertise to Unipol, a conglomerate that also works in real estate, financial services, and mobility.
BlaBlaCar	In 2023, the French carpooling company BlaBlaCar intends to expand its presence in India. When traveling between cities, BlaBlaCar enables drivers to share a car. Both intercity and carpooling are available with this company.

Report Scope

Attribute	Details
Projected market value in 2024	USD 185.6 billion
Projected market value in 2034	USD 4,739.80 billion
Forecast CAGR from 2024 to 2034	38.30%
Forecast period	2024 to 2034
Historical period	2019 to 2023
Market analysis	Value in USD billion
Key regions covered	North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa
Key countries profiled	The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel
Key market segments	Solution, Service, Propulsion Type, Payment Type, Application, End User
Key companies profiled	Lyft Inc.; INTEL CORPORATION (Moovit Inc.); UBER TECHNOLOGIES INC.; BlaBlaCar; GRAB HOLDINGS LIMITED; MaaS Global; SkedGo; Moovel North America LLC.; Fluidtime; Cubic Transportation Systems Inc.

Segmentation Analysis of the Mobility as a Service Market

By Solution:

• Journey Planning & Management Solutions
• Payment Solutions
• Booking & Ticketing Solutions
• Application Technology Solutions
• Others

By Service:

• Ride hailing Services
• Ride sharing Services
• Micromobility Services
• Public Transport Services
• Others

By Propulsion Type:

• Internal Combustion Engine (ICE) Vehicle
• Electric Vehicle (EV)
• Compressed Natural Gas (CNG)/Liquefied Petroleum Gas (LPG) Vehicle

By Payment Type:

• On demand
• Subscription based

By Application:

• Business to Business (B2B)
• Business to Consumer (B2C)
• Peer to Peer (P2P)

By End User:

• Automotive
• Government
• Healthcare
• Retail
• Entertainment
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• The Middle East & Africa

Frequently Asked Questions

What is the anticipated market value of the mobility as a service market outlook in 2024?

The global mobility as a service market is expected to reach USD 185.6 billion by 2024.

What is the expected CAGR for the mobility as a service market through 2034?

The global mobility as a service market is set to expand at a CAGR of 38.30% by 2034.

What is the anticipated market value of the global market in 2034?

The global mobility as a service market is forecast to reach USD 4,739.80 billion by 2034.

Which solution type is likely to dominate the mobility as a service market?

The application technology segment is projected to attain a 25% share in 2024.

Which is the leading service type in the mobility as a service market?

The public transportation segment is likely to acquire a 59% share in 2024.