Global Shared Mobility Market -Industry Analysis and Forecast (2020-2027)

[Ram Vasekar]

Global Shared Mobility Market was valued at US$ 100Bn in 2019 and is expected to reach US$ 250Bn by 2027, at a CAGR of 12.14% during a forecast period.

 

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Shared mobility refers to increase cause of behavior people sharing various modes of transportation (vehicle, bicycle, scooter or other modes) on an as-needed basis. The goal of shared mobility is to effectively and efficiently use transportation vehicles to help reduce carbon emissions, and congestion while also providing individuals cost-effective ways to get to their destinations.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

Major driving factors of the Shared Mobility Market are Technology and mass adoption of smartphones has catalyzed some shared mobility transportation options such as car sharing and ride hailing. Individuals are gaining the benefits of private vehicle use without the costs and responsibilities of ownership. Attitude shift and acceptance towards subscription-based models and on-demand services over ownership models. Free-floating carsharing is the most flexible type of carsharing that is geared towards shorter trips.

Changes in travel behavior due to increase in part-time work with varying schedules, more consumers shopping online and growth in telemedicine are the key opportunity in shared mobility market segment. Inadequate transit infrastructure and cheap and efficient public transportation means, such as, metro will as a restraint to this segment.

Based on the Business Model, Vehicle sharing is expected to hold the largest share in the market during the forecast period. Vehicle sharing services are in highly available in populated, dense cities with a more affluent demographic. Operators are in expand their service area outside the city center – specially to prevent membership churn as members move out from the city center to suburban areas. Some cities are creating operators to service in certain areas outside the city center to encourage this behavior. With no slow-down to vehicle sales and the urbanization megatrend continuing to play-out, owning and maintaining a personal car is turning out to be far too much of a hassle sharing makes perfect business option and helps out to maintain the vehicle with service cost.

In Vehicle type, Sedan is also expected to lead the market growth. Numerous consumers are favoring sedan, as their charges are economically fare and provide better solution to cross the journey in less time.

In terms of region, Asia Pacific is expected to hold the largest share in the market during the forecast period. The growing demand for advanced mobility options due to increasing traffic congestion will propel the Asia Pacific car sharing market. The governments in the region are considering the introduction of advanced mobility options such as car-sharing to reduce the traffic congestion. the Sharing industry, several companies are investing in developing these services in the Asia Pacific region, particularly in countries including Malaysia, Singapore, and Taiwan.

The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, brand portfolio expansion, mergers, collaborations, joint ventures, acquisitions, PESTLE analysis, Value Chain Analysis, and SWOT analysis.

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Global Shared Mobility Market, By Vehicle Type

• Hatchback
• Sedan
• SUV

Global Shared Mobility Market, By Business Model

• Ride-Hailing Service
• Vehicle Sharing
• Peer-to-Peer Vehicle Sharing
• Fixed-Route Commuter Service

Global Shared Mobility Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

Key Players Operating in Global Shared Mobility Market

• Zipcar
• Car2Go
• BleuSG
• Car Club
• WhizzCar
• Tribecar
• Smove
• DiDi Chuxing
• Uber
• Lyft
• ANI Technologies Pvt. Ltd. (OLA)
• BlaBlaCar
• Zoomcar India Pvt. Ltd.

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