Mobility As A Service | A Growing Inclination Toward Micro Mobility | BIS Research Study

Posted by BIS RSRCH on August 23rd, 2022

Mobility as a service by application encompasses passenger transportation, freight transportation, and micro-mobility. Among these, the passenger and transportation segment accounted for the largest market share, with the rise in population growth in urban areas requiring an efficient and reliable way to transfer passengers from one point to another. Moreover, the growing number of users who prefer car-sharing services is also a major factor boosting the market.

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The mobility as a service market holds a significant share in different regions of North America, China, and Europe, owing to the availability of fast commuting options across the regions. China is leading in the Asian market and has been investing heavily in smart transportation infrastructure and planning more investments to improve urban transportation. The demand for mobility as a service varies according to various regions, depending on the end-use application segment demand.

The competitive landscape of the MaaS market consists of different strategies undertaken by major players across the industry to gain market presence. Some of the strategies adopted by MaaS providers are new product launches, business expansions, partnerships, and collaborations. Among all the strategies adopted, partnership has been the most prominent strategy adopted by the MaaS providers. For instance, in April 2022, Capitello Move and MaaS Global signed a strategic partnership to launch the world’s first eco-friendly mobility platform. Moreover, in June 2021, Grab, a mobility services provider, further enhanced the partnership with Hyundai to encourage utilization of MaaS and accelerate EV adoption, especially in Singapore, Indonesia, and Vietnam.

Most of the MaaS providers have numerous tie-ups with various automotive OEMs and other technology providers. The industry landscape is quite competitive because of the market dominance of the few players in the market. Therefore, innovation and development have been the key factors for large-scale growth in this market. For instance, in 2019, Lyft had invested over $XX billion in the R&D division. The company is keen on developing its in-house mapping platform.

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To increase their overall global footprint, MaaS providers are expanding their businesses and are also merging to increase their customer base. In March 2022, MaaS Global acquired Quicko, the leading MaaS player in Brazil. Whim and Quicko are both on a mission to transform the global transport sector by providing people in cities with a more sustainable alternative to a private car. Moreover, in January 2022, Arval and Ridecell entered into a strategic partnership. The aim is to accelerate the development of end-to-end mobility solutions for Arval’s European customers.

Uber, Lyft, Ola, Grab, and BlaBlaCar, are some of the leading players in the MaaS market. In June 2021, Grab, a mobility services provider, further enhanced the partnership with Hyundai to encourage utilization of MaaS and accelerate EV adoption, especially in Singapore, Indonesia, and Vietnam.