The Mobility as a Service Industry is projected to grow from USD 5.7 Billion in 2023 to USD 40.1 Billion by 2030, at a CAGR of 32.2% over the forecast period. Increasing smart city initiatives, growing adoption of on-demand mobility services, and the need to reduce CO2 emissions to drive Mobility as a Service Industry. MaaS promotes the use of sustainable modes of transportation, such as public transit and biking, which can help reduce the environmental impact of travel. MaaS allows users to choose the most economical mode of transportation for their needs. This helps in reducing the overall transportation expenses when compared to the use of personal vehicles.
MaaS can be cost-effective for users, as it allows them to choose the most economical transportation options for their needs. This can lead to reduced overall transportation expenses compared to owning and maintaining a personal vehicle.
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“Journey planning to hold the largest market share by application.”
Journey planning involves providing journey planning options to users through a combination of real-time, predictive, and scheduled data obtained from the applications used. It helps provide a list of service offerings and combines several transport modes based on user preferences and transport infrastructure that helps customers to plan their journey per their requirements. This segment is expected to hold ~ 50% of the market share by application as more and more customers use MaaS application to plan their end-to-end journeys trying to find the optimal solution for saving time and reducing travel costs. The Middle East welcomes approximately 90 million international arrivals per year, which equates to 6% of the world’s total arrivals. The region has invested huge sums in developing smart city solutions so that tourists can have a smooth travel experience in their country. This region is expected to grow the fastest for the journey planning segment.
“Pay as you go payment type is the largest market in the mobility as a service market.”
Pay-as-you-go can either be pre-paid into an e-wallet or post-paid once travel is complete. This payment approach allows users to pay for transportation services based on their actual usage, offering a more flexible and convenient way to access a variety of transportation options. Pay-as-you-go payment models enable users to pay only for the services they use, which can be more cost-effective than traditional fixed pricing structures. This payment option offers transparency to the users as they can see the exact charges of each trip and mode of transportation. The other payment option, namely subscription, can create barriers for certain demographics, such as infrequent travelers or low-income individuals. Pay-as-you-go options make transportation services more accessible to a wider range of people.
“Europe is the second largest market for the mobility as a service market.”
Europe region is expected to hold 1/3rd of the global MaaS market. This significant share of the market is owing to the presence of established MaaS service providers such as Whim, Citymapper, and Trafi in the region. The UK leads by country in the market due to its regulatory framework that boosts the adoption of MaaS applications. Data regulations and regulations to curb CO2 emissions in this region have allowed MaaS service providers to refine and have a better integration for their services. Public transportation in Europe is starting a EURO 49 pass for commuters who travel frequently using the public transport infrastructure. This pass will allow daily commuters to travel hassle-free to their routine destinations. Such integration of subscription-based low-cost services will likely attract more people to shun vehicle ownership and adopt MaaS applications in the region.
Key Market Players
The global Mobility as a Service Industry is led by established players, such as Moovit (Israel), MaaS Global (Finland), Citymapper (UK), FOD Mobility UK Ltd. (UK), and SkedGo (Australia), all of which adopted several strategies to gain traction in the market.
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