Global Mobility on Demand Market size was US$ XX Bn. in 2019 and is expected to reach US$ XX Bn. by 2027, at a CAGR of 12.3% during forecast period.
Global Mobility on Demand Market
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Mobility on Demand (MOD) is an innovative, user-focused approach which leverages developing mobility services, real-time data, and cooperative Intelligent Transportation Systems (ITS) to allow for a more traveller-centric. This technology offers various on-demand services to facilitate locomotion. Many types of cars that are available via mobility on demand include executive cars, luxury cars, SUVs, MUVs and economy cars.
Mobility on-demand market in business uses is poised to grow at a major pace as these services help the corporate organizations to decrease the dependency on private fleets. Also, these services permit organizations to significantly reduce fleet-related prices and optimize fleet management. Enterprises such as Ubeeqo and Omoove provide these services to the corporations that are tailored according to their specific requirements. However, lack of awareness regarding these services is pushing people to use public transport widely, hampering the industry growth.
The report covers all the trends and technologies playing a major role in the growth of the mobility on demand market over 2020-2027. Such as, technological advancements and the emerging IoT (Internet of things) trend are further propelling the mobility on demand market growth. The upsurge in the number of connected vehicles and the growing penetration of smartphones is projected to drive the industry.
In 2016-17, according to the World Travel & Tourism Council, the direct contribution of this sector to GDP was US$ 2,306.0 billion that is nearly 3.1% of the total GDP. By mobile technologies, travellers are seeking more freedom of movement, demanding advanced mobility solutions like car rental services and positively impacting the mobility on demand market globally.
Mobility on Demand Enablers:
Global Mobility on Demand Market1
By service, the E-Hailing segment is expected to grow at the highest CAGR of XX.23% and anticipated to hold the highest market share of X1% over the forecast period. E-hailing service offers users with a seamless platform for booking car, taxi, limousine or any other mode of transportation. The E-hailing application enabled users to book a taxi with their smartphones; it provides efficient service to both driver and the consumer. The report provides an in-depth segment analysis of the global mobility on-demand market, thereby providing valuable insights at micro as well as macro levels.
The report offers a brief analysis of the major regions in the mobility on demand market, namely, APAC, Europe, North America, South America, and the MEA. North America accounted for the largest market share in 2019, with a market value of US$ XX.41 million; the regional market is expected to register a CAGR of XX.2% during 2020-2027. This is because of the large number of consumers, mainly the millennial generation that is more inclined to accept these technologies. Employing mobility on demand offers consumers with the aids of using a vehicle without extra financial funds like maintenance, repair, vehicle lease, and insurance needed in owning & maintaining a vehicle.
In 2019, IAC announced an investment of US$ 250 Mn. in Turo, a car sharing company. It will use the new venture to develop the customer experience. In 2018, General Motors launched its new peer-2-peer car rental program, which will permit owners to rent their automobiles through its online platform. The company has launched this service to help its customers in receiving extra income through their vehicles.
The smart cities enterprises by the governments of various economies including Spain, Ireland, U.S., India, Sweden and Singapore are expected to speed up the mobility on demand market growth. The governments are providing enticements to the people to share rides while commuting and converting the existing public fleet of vehicles to electric vehicles. Such as, under the smart city project, the Vienna Model Region is emerging mobility on demand to integrate the transportation system with the E-car sharing model efficiently.
The objective of the report is to present a comprehensive analysis of the Global Mobility on Demand Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Mobility on Demand Market dynamics, structure by analyzing the market segments and projects the Global Mobility on Demand Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Mobility on Demand Market make the report investor’s guide.
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Scope of the Global Mobility on Demand Market
Global Mobility on Demand Market, By Service
• Car sharing
• Business model
o Round trip
o One way
• Car rental
o Vehicle type
Global Mobility on Demand Market, By Connectivity
Global Mobility on Demand Market, By Application
Global Mobility on Demand Market, By Region
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Key players operating in Global Mobility on Demand Market
• Al Futtaim Vehicle Rentals
• Avis Budget Group
• cambio CarSharing
• Communauto, Inc.
• Didi Chuxing
• DriveNow GmbH & Co. KG
• Easy Taxi
• Enterprise Rent-A-Car
• Europcar Mobility Group
• Getaround, Inc.
• GrabTaxi Holdings PTE. Ltd.
• Hertz Corporation
• Localiza Rent a Car S.A.
• Lyft, Inc.
• Orix Corporation
• Sixt SE
• Uber Technologies, Inc.
• Zipcar, Inc.
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