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Mobility as a Service (MaaS) Market Size

Report ID: GMI6719
Published Date: Sep 2023
Report Format: PDF

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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.

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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.

Mobility as a Service Market Report Attributes
Report Attribute	Details
Base Year:	2023
Mobility as a Service Market Size in 2023:	USD 678.1 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	11.6%
2032 Value Projection:	USD 1.8 Trillion
Historical Data for:	2018 - 2023
No. of Pages:	300
Tables, Charts & Figures:	528
Segments covered:	Service, business model, solution, transportation, application platform, requirement, organization size
Growth Drivers:	Growing urbanization and traffic congestion Increased use of smartphones and advanced transportation apps Proliferation of the concept of smart cities Rising adoption of data analytics and AI
Pitfalls & Challenges:	Ensuring a consistent legal framework across regions Data privacy and security

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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.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of mobility as a service reached USD 678.1 billion in 2023 and is set to grow at 11.6% CAGR from 2024 to 2032, owing to the proliferation of smartphones and advanced transportation apps.

bThe Android segment held around 70% revenue share in 2023 and is pivotal in propelling the market growth as Android-based platforms offer a robust and versatile ecosystem for developing mobility as a service application, enabling seamless integration of various transportation services & functionalities.

Europe held a dominant market share of over 38% in 2023 and will surpass USD 233 billion by 2032, backed by the rapid urbanization and population growth in major cities, leading to increased traffic congestion & pollution.

MOBIKO, Europcar, Curb Mobility, Uber Technologies Inc., HERTZ SYSTEM, INC., Beijing Xiaoju Technology Co., Ltd., Lyft, Inc. (U.S.), Careem, and movmi Shared Transportation Services Inc.