The Worldwide Shared Mobility Industry is Expected to Reach $454.4 Billion by 2028
DUBLIN, Nov. 25, 2022 /PRNewswire/ -- The "Global Shared Mobility Market Size, Share & Industry Trends Analysis Report By Service Model (Ride Hailing, Ride Sharing, Car Sharing, Bike Sharing), By Vehicle (Cars, Two-wheelers), By Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Shared Mobility Market size is expected to reach $454.4 billion by 2028, rising at a market growth of 15.4% CAGR during the forecast period.
New technologies & business models have helped to improve transportation systems & services in the direction of a more sustainable mobility approach. Shared mobility has gained popularity as a possible answer to the rising number of vehicles.
Several communities throughout the world have adopted shared mobility services, demonstrating that they may provide various operational and environmental benefits. Although, in rural and suburban areas with less population density and diffused travel demand, their deployment does not receive the same level of attention.
Peer-to-peer vehicle sharing, shared ride-sharing, common electric scooters, and other new modes & services have arisen. The possibilities for integration, customized travel on demand, automated operations, and environmental friendliness have all contributed to the growth of the shared mobility market.
One of the primary aspects propelling the demand for shared mobility is the increasing adoption of linked cars and smartphones. The expense of road vehicles and fuel, combined with a decrease in parking, is expected to promote market growth in the near future, particularly in industrialized nations around the world.
Furthermore, compared to other forms of transportation, shared mobility solutions are cheaper and avoid limited parking issues. Several governments throughout the world are developing programmers to encourage the adoption of these solutions in order to minimize traffic congestion.
This has a substantial impact on commuters' lifestyles and the marketplace as a whole, like enhanced accessibility, better transportation, less driving, and lower personal car ownership. Shared mobility plans usually provide social, environmental, and transportation system advantages. Commuters use public transportation, which includes shared public transportation, micro mobility, commute-based modes, automobile-based mode, and ridesharing.
COVID-19 Impact Analysis
Owing to modifications in people's mobility patterns around the world, COVID-19 has had a detrimental influence on increasing the market for shared mobility. During the pandemic, people's mobility reduced dramatically, reducing the number of visits to workplaces that was among the market's major factors and drivers.
The pandemic has also caused a transformation in commute priorities. Prior to COVID, commuters' primary concerns were the cost of service, comfort, and other factors such as travel time and mode of transportation. Commuters now seek out forms of transportation that are safe, sanitary, and have a low risk of illness.
As a result, prioritizing health is likely to reduce the usage of sharing and public transportation. Additionally, during the global pandemic, car-sharing services had either been decreased or halted because of a lack of demand in the market.
Market Growth Factors
Rising government support and investments
Every country's government is concerned about population growth, which has negative environmental consequences. Governments encourage citizens to limit their use of automobiles as much as possible. Additionally, sharing rides amongst friends and families are among the government's important concepts for encouraging individuals to choose shared rides above personal rides, which is motivating key companies to launch various news products. Along with that, there are many governments across the world, which are taking steps to establish a network of shared mobility to motivate people for the usage of shared mobility.
Growing environmental issues across the world
Population increase in key cities around the country has resulted in a rise in daily commuters, causing substantial traffic congestion, particularly during rush hour. In order to fight this problem, some companies are attempting to develop alternate transportation solutions. This environment is a primary factor for the market for shared mobility. Various programs make a significant contribution to alleviating traffic congestion, which is expected to open lucrative opportunities for the market players. Since, the level pollutant in the atmosphere is constantly increasing, organizations across the world are taking initiatives to aware people about the effects of pollution on the environment.
Market Restraining Factors
Lack of charging infrastructure for micro-mobility solutions
Many cities lack the requisite infrastructure for the vehicles that fall under micro-mobility concepts, and hence lack the charging infrastructure to charge these vehicles, which is one of the most significant impediments to the demand for shared mobility. Bike lanes are the only realistic solution since riding an e-scooter in fast lanes (truck, car, and bus dominated) or on sidewalks (pedestrian dominated) poses a significant risk to all traffic participants. Because governments are not concentrated on this new and rising concept, dedicated lanes of micro-mobility solutions are lacking in many countries. Furthermore, developing charging infrastructure for micro-mobility solutions necessitates a significant investment as well as the implementation of relevant legislation.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
126.96.36.199 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies deployed in Passive And Interconnecting Electronic Components Market
Chapter 4. Global Shared Mobility Market by Service Model
4.1 Global Ride Hailing Market by Region
4.2 Global Ride Sharing Market by Region
4.3 Global Car Sharing Market by Region
4.4 Global Bike Sharing Market by Region
4.5 Global Others Market by Region
Chapter 5. Global Shared Mobility Market by Vehicle
5.1 Global Cars Market by Region
5.2 Global Two-wheelers Market by Region
5.3 Global Others Market by Region
Chapter 6. Global Shared Mobility Market by Region
Chapter 7. Company Profiles
7.1 Lyft, Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Research & Development Expenses
7.1.4 Recent strategies and developments
188.8.131.52 Partnerships, Collaborations, and Agreements
184.108.40.206 Acquisition and Mergers
7.2 Grab Holdings Inc
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expenses
7.2.5 Recent strategies and developments
220.127.116.11 Partnerships, Collaborations, and Agreements
7.3 Avis Budget Group, Inc.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Recent strategies and developments
18.104.22.168 Partnerships, Collaborations, and Agreements
22.214.171.124 Acquisition and Mergers
7.4 DiDi Global Inc.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental Analysis
7.4.4 Research & Development Expenses
7.4.5 Recent strategies and developments
126.96.36.199 Partnerships, Collaborations, and Agreements
7.5 Deutsche Bahn Connect GmbH (Deutsche Bahn AG)
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.6 Uber Technologies, Inc.
7.6.1 Company Overview
7.6.2 Recent strategies and developments
188.8.131.52 Partnerships, Collaborations, and Agreements
184.108.40.206 Acquisition and Mergers
7.7 GT Gettaxi (UK) Limited
7.7.1 Company Overview
7.7.2 Recent strategies and developments
220.127.116.11 Partnerships, Collaborations, and Agreements
7.8 Ola Cabs (ANI Technologies Pvt. Ltd.)
7.8.1 Company Overview
7.9 SHARE NOW GmbH
7.9.1 Company Overview
7.10. Global Car Sharing and Rental Co., Ltd
7.10.1 Company Overview
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