Global Shared Mobility Market Report 2023: Market to Reach $87.43 Billion in 2032 - Opportunities Abound in Ride Hailing, Cars, and B2C Models
DUBLIN, Oct. 18, 2023 /PRNewswire/ -- The "Shared Mobility Global Market Opportunities and Strategies to 2032" report has been added to ResearchAndMarkets.com's offering.
The global shared mobility market reached a value of nearly $271,907.1 million in 2022, having increased at a compound annual growth rate (CAGR) of 9.1% since 2017. The market is expected to grow from $271,907.1 million in 2022 to $495,778.6 million in 2027 at a rate of 12.8%. The market is then expected to grow at a CAGR of 12.0% from 2027 and reach $874,436.3 million in 2032.
The shared mobility market experienced growth in the past due to factors such as increased sales of hybrid electric vehicles (HEVs), rapid urbanization, higher instances of vehicle theft, and a shortage of parking spaces. However, it faced challenges from the COVID-19 pandemic and fluctuating automobile raw material prices.
Looking ahead, the market will be driven by stringent environmental regulations, rising demand for ride hailing and ride sharing services, and increasing fuel prices. Potential hindrances to future growth include the impact of the Russia-Ukraine conflict and rising interest rates.
The shared mobility market comprises various segments, including ride hailing, bike sharing, ride sharing, car sharing, and others. In 2022, the ride hailing segment was the largest, accounting for $124,491.2 million, representing 45.8% of the total market. Bike sharing is expected to be the fastest-growing segment with a CAGR of 13.8%.
When it comes to mobility vehicles, cars dominated the shared mobility market, making up $203,692.9 million (74.9% of the total market) in 2022. Two-wheelers are expected to witness the highest growth, with a CAGR of 16.4%.
In terms of business models, the B2C segment was the largest, contributing $151,340.5 million (55.7% of the total market) in 2022. Meanwhile, the B2B segment is anticipated to have the fastest growth, with a CAGR of 12.6%.
Asia-Pacific led the shared mobility market in 2022, accounting for 39.2% of the global market. The Asia-Pacific and Middle East regions are expected to experience the highest growth rates, with CAGRs of 14.8% and 13.8%, respectively, from 2022 to 2027.
Key strategies for success in the shared mobility market include adopting innovative vehicle fleet-sharing platforms, integrating autonomous vehicle technology, leveraging technological advancements, enhancing mobility sharing apps, and establishing strategic partnerships and collaborations.
Companies in the shared mobility industry are advised to gain experience in shared mobility services, introduce cutting-edge vehicles, focus on technology to enhance customer experiences through partnerships, expand into micro mobility markets through strategic partnerships, and explore growth opportunities via partnerships.
To seize opportunities in the market, shared mobility companies should prioritize innovative vehicle fleet-sharing platforms, embrace autonomous vehicle tech, invest in technology advancements, optimize mobile apps, expand in emerging markets, maintain a presence in developed markets, foster partnerships and collaborations, offer competitive pricing, implement dynamic pricing strategies, participate in industry events, target consumers through digital channels, cater to the digital-native population, and cater to urban populations.
The most promising opportunities in the shared mobility market include the ride hailing segment, expected to reach $102,511.2 million in global annual sales by 2027. Additionally, the cars market is set to gain $149,971.0 million in global annual sales, while the B2C business model is poised to reach $122,013.2 million in global annual sales by 2027. China is projected to experience the most substantial market size growth, reaching $61,374.5 million.
The global shared mobility market is highly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 11.30% of the total market in 2021.
Didi Chuxing Technology Co was the largest competitor with a 5.69% share of the market, followed by Uber Technologies Inc. with 2.71%, Avis Budget Group with 1.41%, Lyft, Inc. with 0.49%, The Hertz Corporation with 0.47%, Grab Taxi Holdings Pvt. Ltd. with 0.20%, Deutsche Bahn Connect GmbH with 0.15%, BlaBlaCar with 0.09%, Gett Inc with 0.06%, and ANI Technologies Private Limited with 0.06%.
Key Topics Covered:
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
6. Introduction And Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Shared Mobility Market Definition And Segmentations
6.4. Market Segmentation By Service
6.4.1. Ride Hailing
6.4.2. Bike Sharing
6.4.3. Ride Sharing
6.4.4. Car Sharing
6.4.5. Other Services
6.5. Market Segmentation By Mobility Vehicle
6.5.1. Cars
6.5.2. Two-Wheelers
6.5.3. Other Mobility Vehicles
6.6. Market Segmentation By Business Model
6.6.1. P2P
6.6.2. B2B
6.6.3. B2C
7. Major Market Trends
7.1. Innovative Vehicle Fleet-Sharing Platforms
7.2. Adoption Of Autonomous Vehicle Technology
7.3. Technology Advancements
7.4. Upgrading Of Mobility Sharing Apps
7.5. Strategic Partnerships And Collaborations
8. Global Market Size And Growth
8.1. Market Size
8.2. Historic Market Growth, 2017 - 2022, Value ($ Million)
8.2.1. Market Drivers 2017 - 2022
8.2.2. Market Restraints 2017 - 2022
8.3. Forecast Market Growth, 2022 - 2027, 2032F Value ($ Million)
8.3.1. Market Drivers 2022 - 2027
8.3.2. Market Restraints 2022 - 2027
9. Global Shared Mobility Market Segmentation
9.1. Global Shared Mobility Market, Segmentation By Service, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
9.2. Global Shared Mobility Market, Segmentation By Mobility Vehicle, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
9.3. Global Shared Mobility Market, Segmentation By Business Model, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
10. Shared Mobility Market, Regional and Country Analysis
10.1. Global Shared Mobility Market, By Region, Historic and Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
10.2. Global Shared Mobility Market, By Country, Historic and Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
For more information about this report visit https://www.researchandmarkets.com/r/9xofzm
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