Mobility as a Service is Being Spurred by Urban Population Growth with Global Revenue Expected to Reach $563.3 Billion by 2025, According to Tractica
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BOULDER, Colo.–()–Mobility as a service (MaaS) programs provide on-demand access to four-wheel and two-wheel vehicles to more efficiently and cost-effectively travel in urbanized areas. According to a new report from Tractica, MaaS is providing greater accessibility at similar or lower cost to owning a vehicle, empowering people to give up or delay vehicle purchases and rely on shared vehicles for their commute and leisure travel needs.
The global population is moving into and near cities, with the majority of people now living in urban areas. This closer proximity between where people live, work, and play is putting a strain on transportation infrastructure and transit systems. According to senior analyst John Gartner, “A metropolitan area with a coordinated set of transit options and MaaS has the potential to alleviate traffic congestion, reduce traffic accidents and fatalities, enhance accessibility, lower carbon emissions, and provide an improved experience for pedestrians and cyclists.” Applications that enable travelers to compare these services from their mobile phones, such as Trafi or UbiGo, will be of growing importance in enabling consumers to rely on MaaS. Tractica expects the global market for MaaS to grow at a compound annual growth rate (CAGR) of 24.0% to become a $563.3 billion market by 2025.
Tractica’s report, “Mobility as a Service,” highlights how MaaS programs such as carsharing and ride-hailing are reaching maturity in their breadth of offerings and business models while two-wheel vehicle sharing and vehicle subscription services are still in their infancy. The report contrasts the competitive advantages and limitations of each MaaS category and highlights the major regional and global players. Tractica provides global and regional 2019-2025 revenue forecasts for ride-hailing, carsharing, vehicle subscriptions, and shared e-scooters and e-bikes. An Executive Summary of the report is available for free download on the firm’s website.
Tractica, an Informa business, is a market intelligence firm that focuses on emerging technologies. Tractica’s global market research and consulting services combine qualitative and quantitative research methodologies to provide a comprehensive view of the emerging market opportunities surrounding Artificial Intelligence, Robotics, User Interface Technologies, Advanced Computing and Connected & Autonomous Vehicles. For more information, visit www.tractica.com or call +1.303.248.3000.
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