Asia-Pacific Mobility as a Service Market, By Service Type (Car Sharing, Bus Sharing, Train, Ride Hailing, Bi-Cycle Sharing, Self-Driving Cars and Others), Solution (Navigation Solutions, Ticketing Solutions, Technology Platforms, Insurance Services, Telecom Connectivity Providers and Payment Engines), Transportation Type (Public and Private), Vehicle Type (Four Wheelers, Bus, Train and Micro Mobility), Application Platform (IOS, Android and Others), Requirement Type (First and Last Mile Connectivity, Off-Peak and Shift Work Commute, Daily Commuter, Airport or Mass Transit Stations Trips, Inter-City Trips and Others), Organization Size (Large Enterprises and Small and Medium Size Enterprises (SMES)), Usage (Commercial and Personal), Country (China, India, South Korea, Australia, Japan, Singapore, Malaysia, Thailand, Indonesia, Philippines and Rest of Asia-Pacific) Industry Trends and Forecast to 2028
Market Analysis and Insights: Asia-Pacific Mobility as a Service Market
Asia-Pacific mobility as a service market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 33.7% in the forecast period of 2021 to 2028 and expected to reach USD 260,708.27 million by 2028. Increasing population and urbanization with need of reducing CO2 emission and traffic congestion is driving growth of the market.
Mobility as a service is a consumer-centric model for providing transportation for people. Mobility as a service is also known as MaaS and sometimes referred to as transportation as a service (TaaS). Mobility as a service is the integration of transport methods such as car and bike sharing, taxis and car rentals/leases through digital channels which enables consumers to plan, book and pay for multiple types of mobility services. The main concept of developing MaaS is to offer travellers mobility solutions based on their travel needs.
The rising urbanization and smart city initiatives are driving the mobility as a service market growth with increased demand for advanced products having enhanced connectivity and performance. The market players have to meet the regulatory standards of each country in which they are selling their products which is limiting the mobility as a service market growth. The growth of electric vehicles for comfortable and clean transport at a lower cost is creating opportunity for the mobility as a service market. The low awareness of the lifetime cost of private vehicles and service ownership is going to be a major challenge for the mobility as a service market.
This mobility as a service market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Mobility as a Service Market Scope and Market Size
The mobility as a service market is segmented on the basis of service type, solution, transportation type, vehicle type, application platform, requirement type, organization size and usage. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of service type, the mobility as a service market is segmented into car sharing, bus sharing, train, ride hailing, bi-cycle sharing, self-driving cars and others. In 2021, ride hailing segment held larger share in the mobility as a service market due to the growing option for booking and comfort which has raise the demand for rail hailing services.
- On the basis of solution, the mobility as a service market is segmented into navigation solutions, ticketing solutions, technology platforms, insurance services, telecom connectivity providers and payment engines. In 2021, navigation solutions category has accounted for maximum market size due to growing importance of passenger safety and growing concern for minimizing travelling time has increase the demand for navigation solutions.
- On the basis of transportation type, the mobility as a service market is segmented into public and private. In 2021, public category has accounted for maximum market size due to rising vehicle traffic which has increase the demand for mobility services.
- On the basis of vehicle type, the mobility as a service market is segmented into four wheelers, bus, train and micro mobility. In 2021, four wheelers segment held the largest share in the market which is mainly attributed to rising investment in the transportation infrastructure which has fuel the demand for mobility services.
- On the basis of application platform, the mobility as a service market is segmented into IOS, android and others. In 2021, android category has accounted for maximum market size owing to rising internet penetration and growing usage of mobile in the developing economies which has resulted in increasing demand for mobility services for the android application.
- On the basis of requirement type, the mobility as a service market is segmented into first and last mile connectivity, off-peak and shift work commute, daily commuter, airport or mass transit stations trips, inter-city trips and others. In 2021, inter-city trips category held larger market share owing to the rising vehicle traffic which has increase the demand for mobility services.
- On the basis of organization size, the mobility as a service market is segmented into large enterprises and small and medium size enterprises (SMES). In 2021, large enterprises segment held larger market share owing to the growing investment from the various tech-giants in the car sharing and transportation infrastructure which are making their presence in the transportation industry.
- On the basis of usage, the mobility as a service market is segmented into commercial and personal. In 2021, commercial category held larger market share owing to the growing need for safe, effective and cost friendly transportation option of goods and materials.
Mobility as a Service Market Country Level Analysis
Mobility as a service market is analysed and market size information is provided by the country, service type, solution, transportation type, vehicle type, application platform, requirement type, organization size and usage as referenced above.
The countries covered in the global mobility as a service market report are China, India, Japan, South Korea, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, and Rest of Asia-Pacific.
China is dominating the Asia-Pacific mobility as a service market and is expected to grow with highest CAGR during the forecast period followed by Japan and India due to rising of population and urbanization in the developing countries which is contributing to the growth of MaaS market in these countries. Also, the emergence of reducing vehicle emission and traffic congestion across the region is boosting the Asia-Pacific mobility as a service market.
The country section of the mobility as a service market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Number of Original Equipment Manufacturers (OEMs)
Mobility as a service market also provides you with detailed market analysis for every country growth in installed base of different kind of products for mobility as a service market, impact of technology using life line curves and changes regulatory scenarios and their impact on the mobility as a service market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Mobility as a Service Market Share Analysis
Mobility as a service market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Asia-Pacific mobility as a service market.
The major players covered in the mobility as a service market report are Moovit Inc. (a subsidiary of Intel Corporation), UbiGo Innovation AB, MaaS Global Oy, SkedGo Pty Ltd, Beijing Xiaoju Technology Co, Ltd., Uber Technologies, Inc., EasyMile, Ridecell, Inc., Bolt Technology OÜ, Citymapper Limited, Cubic Corporation, innovation in traffic systems SE, BRIDJ Pty Ltd, ANI Technologies Pvt. Ltd., Splyt Technologies Ltd. and BlaBlaCar among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In November 2020, Beijing Xiaoju Technology Co, Ltd. launched first electric vehicle custom-built for ride-hailing named as D1. This D1 is developed for major Chinese cities. D1 is the development of autonomous driving and AI technology. Through this product launch, the company is able to provide a better travel experience through shared mobility.
- In November 2020, Uber Technologies, Inc. launched E-rickshaws for first and last mile connectivity. These E-rickshaws will be available across 26 stations on Delhi Metro’s blue line In India. This product offers riders mobility solutions for better connectivity. Through this, the company is able to enhance their product portfolio in the market.
Product launch, acquisition and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for mobility as a service through product portfolio of the companies.