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Mobility on Demand Market Size

  • Report ID: GMI1229
  • Published Date: Nov 2019
  • Report Format: PDF

Mobility on Demand Market Size

Mobility on Demand Market size valued at USD 110 billion, globally in 2018 and is estimated to grow at over 10% CAGR between 2019 and 2026./p>

 

Mobility on Demand Market

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The increasing focus on reduction & control of high air pollution levels due to heavy vehicular traffic is creating the need for alternative transportation forms, driving mobility on demand market value globally. Consumer preferences in North American and European countries are shifting from old vehicular transport to various other mobility choices, leading to the demand for flexible travel options. The mobility on demand industry is witnessing popularity owing to the emphasis on public & private transportation options that allow shared usage & multimodal integration. Additionally, the development of these services allows users to make choices from various available options and offer easy-to-use smartphone applications, resulting in high consumer satisfaction. Rising usage of the technology will contribute to developing a new transport ecosystem with personal mobility needs and innovative technological infrastructure./p>

 

The emergence of Mobility-as-a-Service (MaaS), electric vehicles, and autonomous cars is expected to transform the transportation ecosystem due to more efficient, driverless, and data-driven options, further accelerating the market revenue. A major factor hampering the industry is the unavailability of a robust technical & transportation infrastructure in several small countries. The service providers face huge technical & security challenges due to sudden breakdowns and malfunctioning of smartphone applications, leading to consumer losses. The software infrastructure is easily prone to cyber thefts and hacks, resulting in the loss of valuable data of companies and customers. The development of highly secure software applications and the elimination of technical errors will aid in overcoming these challenges.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of mobility on demand was valued over USD 110 billion in 2018.

The industry share of mobility on demand is projected to witness 10% growth rate during 2019 to 2026.

The increasing focus on reduction & control of high air pollution levels due to heavy vehicular traffic is creating the need for alternative transportation forms, driving market growth for mobility on demand.

North America market is expected to grow at a rapid pace from 2019 to 2026 owing to heavy investments made by major automakers, service providers, and investors. High support from the U.S. government for the promotion & adoption of various on-demand mobility services is adding up to industry expansion.

Increasing vehicle purchasing and ownership costs due to launch of technically advanced passenger cars are adding up to the usage of rental cars. Consumers across the globe are opting for these options to save the huge maintenance & ownership costs along with the ability to use the latest car models offered by rental providers.

Mobility on Demand Market Scope

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Premium Report Details

  • Base Year: 2018
  • Companies covered: 24
  • Tables & Figures: 585
  • Countries covered: 20
  • Pages: 320
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