Mobility as a Service Market Size & Share 2024 - 2032
Market Size by Service (Ride Hailing, Car Sharing, Micro Mobility, Bus Sharing, Train Services), Business Model (B2B, B2C, P2P), Transportation, Solution, Application Platform, Requirement, Organization, Forecast.
Report ID: GMI6719
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Published Date: July 2024
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Report Format: PDF
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Authors:
Preeti Wadhwani, Aishvarya Ambekar
Mobility as a Service Market Size
Mobility as a Service (MaaS) Market size was valued at USD 678.1 billion in 2023 and is anticipated to register a CAGR of 11.6% between 2024 and 2032. The increased investments in MaaS applications will significantly drive market growth. The increasing financial support from investors provides MaaS platforms with the necessary resources to enhance technological capabilities, expand services, and scale operations.
Mobility as a Service Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
For instance, in October 2023, the umob platform, an MaaS solution that seamlessly combines shared mobility, taxi services, and public transportation within a single application, secured USD 6.49 million in funding from multiple investors. This financial support aimed to facilitate the expansion of the platform across Europe.
The rapid urbanization and population growth will boost the MaaS market size. As cities expand, the demand for efficient & integrated transportation solutions rises. MaaS, with its multi-modal approach and seamless user experience, addresses the challenges posed by urban mobility. The increasing concentration of populations in urban areas underscores the necessity for innovative, technological solutions, making MaaS a key player in reshaping the landscape of urban transportation.
The proliferation of user data in MaaS platforms raises concerns about data privacy and security. Safeguarding sensitive information is important to building and maintaining user trust. MaaS providers need to implement robust encryption, authentication, and authorization mechanisms to protect data against unauthorized access and potential breaches. Complying with stringent data protection regulations and adopting transparent policies regarding data handling are essential to address the intricate challenges associated with data privacy and security in the MaaS landscape.
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.
Mobility as a Service Market Analysis
Based on service, the ride hailing segment accounted for 37% of the market share in 2023, due to its convenience and cost-effective transportation solutions. With the growing urbanization, consumers are seeking efficient alternatives to traditional transport. Ride-hailing services offer flexibility, real-time accessibility, and seamless integration into MaaS platforms. The evolving preference for shared mobility and the emphasis on sustainability will boost the expansion of the ride hailing segment within the broader MaaS landscape, addressing the dynamic mobility needs of contemporary urban population.
Based on application platform, the android segment held around 70% of the mobility as a service market share in 2023, owing to the extensive use of android smartphones. Android's user-friendly interface, extensive app ecosystem, and compatibility with MaaS applications make it a preferred platform for accessing and utilizing mobility services.
As MaaS is evolving, the Android segment is expected to witness increased adoption, providing users with seamless and diverse options for planning, booking, and managing their multimodal transportation needs. For instance, in October 2023, Namma Yatri launched the 'Purple Rides' initiative, through its auto-hailing app. It aims to enhance mobility for individuals with disabilities by enabling drivers with disability-friendly services.
Europe mobility as a service market share was over 38% in 2023 and is poised to reach USD 233 billion by 2032, attributed to robust urban planning, efficient public transportation networks, and a strong emphasis on sustainability. The region's supportive regulatory environment and technological infrastructure foster the integration of diverse mobility services into unified platforms. With a growing preference for seamless, multimodal transportation options, Europe anticipates increased MaaS adoption. This will offer commuters comprehensive and convenient solutions for their mobility needs, further driving market expansion.
Mobility as a Service Market Share
Uber Technologies Inc. and Lyft, Inc. dominates the market by holding over 10% revenue share. The key players in the Mobility as a Service (MaaS) industry dominate due to strategic initiatives, technological prowess, and adaptability to the evolving consumer needs. These companies leverage comprehensive, user-friendly platforms that integrate diverse transportation services. The established players have global reach and extensive user bases, providing seamless mobility experiences.
Innovations, partnerships with transport modes, and effective marketing contribute to their dominance. Financial strength, regulatory compliance, and the ability to navigate complex market landscapes further solidify their positions, shaping the industry.
Mobility as a Service Market Companies
The major companies operating in the mobility as a service (MaaS) industry are:
Mobility as a Service Industry News
The mobility as a service (MaaS) market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD billion) from 2018 to 2032 for the following segments:
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Market, By Service
Market, By Business Model
Market, By Solution
Market, By Transportation
Market, By Application Platform
Market, By Requirement
Market, By Organization Size
The above information has been provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →