Mobility-as-a-Service Market: Forecast and Analysis for 2024-2030
Abstract
This market research paper investigates the mobility-as-a-service (MaaS) market for the period of 2024-2030. Factors driving the growth of the MaaS market include concerns over greenhouse gas emissions, urban road congestion, cost-effectiveness, convenience, and rising government initiatives. The market is dominated by the ride-hailing category, with daily commuting expected to grow at the highest rate. The car category holds the largest market share, but the electric propulsion category is projected to grow at the highest CAGR. The Asia-Pacific region accounts for the largest share of the MaaS market, with China being the largest market for shared mobility services.
- Introduction
Mobility-as-a-Service (MaaS) integrates various transportation services into a single, unified platform, providing a seamless and convenient transportation experience for users. The MaaS market size was valued at $128,489.2 million in 2021 and is projected to grow at a CAGR of 16.8% during 2021–2030. This paper investigates the factors driving MaaS adoption, market segmentation, and regional performance. - Market Drivers
2.1. Greenhouse Gas Emissions Concerns
The growing concerns over greenhouse gas emissions and the environmental impact of conventional transportation methods have prompted a shift towards more sustainable mobility solutions, such as MaaS.
2.2. Urban Road Congestion
Increasing urbanization and road congestion issues in cities worldwide have prompted the need for efficient and integrated transportation solutions like MaaS, which can help reduce traffic jams and improve overall urban mobility.
2.3. Cost-effectiveness and Convenience of MaaS
The MaaS model offers cost-effective and convenient transportation options for users, as they can access multiple services through a single platform, which can be tailored to their needs and preferences.
2.4. Government Initiatives
Governments across the globe are increasingly supporting MaaS by investing in infrastructure, offering incentives for MaaS providers, and implementing policies that encourage shared mobility adoption.
- Market Segmentation
3.1. By Service Type
The MaaS market is dominated by the ride-hailing category, which held more than 50% of the market share in 2021. However, the daily commuting category is expected to grow at the highest rate of over 17% in the coming years, driven by the increasing demand for convenient and cost-effective transportation options for daily commuters.
3.2. By Vehicle Type
The car category held the leading market share in 2021, attributed to the widespread adoption of ride-hailing services. However, the electric propulsion category is expected to grow at the highest CAGR of over 40% in the coming years, as the demand for eco-friendly vehicles increases, and governments promote electric vehicle adoption.
- Regional Analysis
The Asia-Pacific region held the largest share of around 40% in the global MaaS market in 2021, with China being the largest market for shared mobility services. Factors driving the growth in the Asia-Pacific region include rapid urbanization, high population density, and supportive government policies for shared mobility services. - Conclusion
The MaaS market is expected to witness substantial growth between 2024 and 2030, driven by environmental concerns, urban road congestion issues, cost-effectiveness, convenience, and government initiatives. The daily commuting and electric propulsion categories are projected to see the highest growth rates, while the Asia-Pacific region will continue to dominate the global MaaS market.