Vancouver, British Columbia, Dec. 14, 2020 (GLOBE NEWSWIRE) — The Global Mobility as a Service Market is forecast to be worth USD 523.61 Billion by 2027, according to the current analysis by Emergen Research. The primary driving factor for the Mobility as a Service (MaaS) market is the convergence and the growth of the telecom sector and the transportation industry. The market for intelligent mobility has witnessed significant growth as transport authorities, governments, customers, and businesses have started understanding the ample potential for unlocking various opportunities. There has been a surge in the awareness for the adoption of a user-centric approach to look at the mobility opportunities provided to customers as a part of a wider, integrated system.
Rising concerns for the environment, coupled with measures to impose a restriction on individual car usage in towns and cities, have aided in strengthening public transport. There are several benefits, such as lesser commute travel and easy payment options and reward systems, which can help in encouraging people to shift to MaaS.
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Additionally, the development of smart city applications, the introduction of 5G into industrial IoT, and connected powering cars are expected to see an upward trend. The effectiveness of MaaS would require efficient network connectivity, widespread usage of smartphones on 3G/4G/5G networks, real-time updates of travel options, and integration of cashless payment systems.
Key Highlights From The Report
- In March 2019, a global mobility-as-a-service software development company, SkedGo, headquartered in Australia, developed the technology for Royal Automotive Club Victoria, RACV’s, which is a unique commuter app.
- The self-drive car segment is projected to grow with a sizable CAGR in the forecast years. The emerging sector of self-driving cars is bringing other fields in the picture in which technology challengers have an edge.
- Though security measures are present in all smartphones to improve the security aspect of online payment, the iOS application app makes it more secure for its users by encrypting online deals and removing threats like phishing and hacking, among others.
- The Business-to-Consumer (B2C) model for the MaaS application needs integration to mobility service providers’ sales systems. There is a trend in the corporate sector, which are revolutionizing the idea of marketing strategies and user experiences
- Micro transit is also a famous concept in the North American region. There have been a number of MaaS services and/or related enterprise initiatives in the Greater Toronto and Hamilton Area (GTHA).
- Key participants include UbiGo AB, Beeline Singapore, Shuttl, Uber technologies, Citymapper, Ola, Moovel Group GmBH, Lyft, Inc., Smile Mobility, and Communauto, among others.
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For this report, Emergen Research has segmented the Global Mobility as a Service Market on the basis of service type, application, business model, vehicle type, and region:
- Service Type Outlook (Revenue, USD Billion; 2017-2027)
- Ride-hailing
- Self-driving car service
- Bi-cycle sharing
- Car sharing
- Bus sharing
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Business Model Outlook (Revenue, USD Billion; 2017-2027)
- Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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