Top Emerging Trends Of Shared Mobility Market Progress Forecast 2030 |Grand View Research, Inc.Posted by Mrudula Karmarkar on July 13th, 2022 The global shared mobility marketsize is expected to reach USD 731.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 16.9% from 2022 to 2030. Rising Internet penetration and increased investment in shared mobility applications are the major factors driving the market. With a rise in smart mobility, which is a revolutionary way of figuring out ways to commute in safe, clean, and efficient mode, basically find out a way of Zero-emission, Zero ownership, and Zero accidents. Furthermore, due to the continued development in the use of AI, the market has risen significantly over the last two decades and will continue to grow in the coming years. Additionally, in terms of commuting time, contactless payment, and overall efficiency, the public transportation system has improved significantly over the last few decades. Many recent developments in technology start-ups have occurred as a result of an increase in market prospects. Market players are increasingly coming up with new motorbike or cab sharing strategies. The public sector is getting even smarter by focusing on routes of public buses and being concerned about timings, as shown by the tracking monitor of different public vehicles at a bus stop. Investors now have started investing in abundance in such a concept seeing the potential market’s future. In recent years, shared mobility has taken a keen interest in becoming smarter, as Electric vehicles (EVs) have begun to enter the market, offering it more cost-effective, environmentally friendly, and comfortable. Moreover, several companies have started making mobile apps to support working toward non-ownership rides. In such a module, the rider can book their ride as per their requirement, route, time, and type of vehicle without owning rather than renting the vehicle for that particular time frame. Ridesharing is growing at the highest rate during the forecast period, and this can be due to customers' wide adoption of the cost-effective and elegant mode of transport rides. In addition, clients who had previously rented a driver to drive their vehicle owing to its cost-effectiveness have now started to shift to shared transportation. Key factors driving the growth of the market globally include increased consumer awareness about shared mobility applications and systems, and higher reliance on mobile applications to make daily processes easier. Shared mobility is an emerging market wherein transportation resources and services are shared concurrently or one after the other among its users. Apart from being cost-effective and environmentally friendly, shared mobility is also convenient. Because of this, shared mobility will only partially be able to replace car ownership. There has been observed a rise in customer demand for self-driving taxis and shuttles in comparatively lower density locations. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/shared-mobility-market/request/rs1 New modes and services have emerged like peer-to-peer car sharing, pooled ride-sharing, shared electric scooters, etc. This emergence has been attributed to their potential integration, automated processes, personalized travel on demand, and environment-friendly nature. The growth in penetration of connected cars and smartphones is one of the key factors driving the market for shared mobility. The increase in the cost of road vehicles and the cost of fuel, combined with a reduction in parking, especially in developed countries around the world, is estimated to boost the market growth in the coming years. Shared Mobility Market Report Highlights
The shared mobility industry is going through rapid changes. It has continued to consolidate over a few years, with leading companies constantly pushing to hold the highest market share. Many companies take steps such as acquisitions, partnerships, investments, and R&D to be able to separate their portfolio from competitors and stand out with their market presence. Implementing different emerging technologies like contactless payment and autonomous driving readiness is driving the market towards technological process advancements. In March 2022, Chalo, a Bangalore-based mobile app that books and enables bus tracking across cities, acquired Vogo, a two-wheeler shared mobility business startup. As part of this acquisition, Vogo has planned to switch to EVs (electric vehicles) in all its vehicles and extend services beyond two wheels and provide other EV models to suit market needs. Some of the prominent players in the shared mobility market include:
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