- The shared mobility market has experienced significant growth, driven by advancements in technology and shifting consumer preferences towards sustainable transportation options. Key developments in this sector include the integration of electric vehicles (EVs) and autonomous driving technology, enhancing the appeal and efficiency of shared mobility solutions
- Major players such as Uber and Lyft are expanding their service offerings to include bike and scooter sharing, while companies such as Zipcar and car2go are evolving their car-sharing models to cater to urban populations seeking flexibility and convenience
- Asia-Pacific leads the shared mobility market in revenue growth with market share 39.51% due to the rising costs associated with vehicle ownership and the growing traffic congestion in countries such as India and China. High urbanization rates and the push for sustainable transportation solutions have further fueled the adoption of shared mobility services across the region.
- For instance, In September 2023, Kellogg Company took a significant step by officially gaining approval from its Board of Directors for the planned separation into two distinct publicly traded companies, Kellanova and WK Kellogg Co. With separate entities focusing on distinct product categories optimized the supply chains. Each entity tailored its own logistics strategies to the specific needs of its products, leading to more efficient transportation routes, inventory management, and distribution networks
- Globally, Shared Mobility services are recognized as a sustainable and cost-effective transportation solution that reduces traffic congestion, lowers carbon emissions, and optimizes vehicle utilization through models like car-sharing, ride-hailing, bike-sharing, and scooter-sharing, especially in urban environments.
