In 2021, the global shared mobility market reported a substantial market size of US$ 40.9 billion. The future holds even greater promise, with projections indicating remarkable growth. The market is set to skyrocket to an astounding US$ 1339.4 billion by 2030, showcasing an impressive compound annual growth rate (CAGR) of 39.5% during the forecast period from 2022 to 2030.
Get a Free Sample PDF copy of the report @https://reportocean.com/industry-verticals/sample-request?report_id=Pol1321
Unpacking Shared Mobility
Shared mobility encompasses transportation resources and services shared by users. This dynamic concept enhances the utilization of various vehicle types, including cars, motorcycles, buses, scooters, and more. Shared mobility provides a cost-effective, short-term alternative to car ownership.
Key Market Drivers
The global shared mobility market is propelled by several critical factors:
- Environmental Concerns: Mounting concerns over environmental pollution are driving the growth of the shared mobility market. It offers a more sustainable and eco-friendly mode of transportation, reducing the impact on the environment.
- Cost-Effective Travel: High costs associated with personal vehicle ownership make car sharing an attractive option for commuting long distances. It offers significant cost savings for users.
- Government Initiatives: Rapidly growing government initiatives to promote mobility sharing further boost the market. Governments are actively advocating for eco-friendly transportation solutions.
- Population Growth: The rapid rise in the global population, coupled with increasing employment rates, provides ample growth opportunities for shared mobility.
Challenges
One of the primary challenges facing the shared mobility market is the lack of awareness among a significant portion of the population. Raising awareness is crucial to unlock the market’s full potential.
Impact of COVID-19
The COVID-19 pandemic had a substantial impact on the shared mobility market. Stringent government regulations restricted movement, leading to a sharp decline in demand for shared mobility services. The pandemic also prompted many companies to implement work-from-home policies, resulting in a significant reduction in daily commute activities.
Regional Growth
The Asia-Pacific shared mobility market is poised to experience rapid growth due to factors like increasing on-road traffic and the high cost of vehicle ownership. Growing populations in countries such as India and China, combined with government efforts to combat pollution, are expected to drive the market’s expansion.
Key Market Competitors
Notable players in the shared mobility market include:
- Maxi Mobility
- ANI Technologies Ltd.
- Yulu Bikes Ltd.
- Meru Mobility Tech Ltd.
- Beijing Xiaojun Technology Co.
- Uber Technologies Inc.
- Zoom car India Ltd.
- Wicked Ride Adventure Services Ltd.
- MOBIKA
- Camuto SA
Market Segmentation
The global shared mobility market is segmented based on service type, vehicle type, and business model:
- Service Type:
- Ride Sharing
- Car Rental
- Bike Sharing
- Carsharing
- Others
- Vehicle Type:
- Cars
- Buses
- Two-Wheelers
- Other
- Business Model:
- Business to Business (B2B)
- Business to Customer (B2C)
- Peer to Peer (P2P)
About Report Ocean
Report Ocean is a trusted provider of market research reports, delivering high-quality insights to clients across various industries. Their mission is to assist clients in achieving their top-line and bottom-line objectives, ultimately enhancing their market share in today’s competitive landscape. Report Ocean is a reliable source for innovative market research reports, offering a comprehensive solution to individuals, organizations, and industries seeking valuable market intelligence.