Shared Mobility Market Size to Reach USD 145460 Million by 2027 at CAGR 6.5% - Valuates Reports
BANGALORE, India, Aug. 24, 2021 /PRNewswire/ -- The Shared Mobility Market is Segmented by Type (Bikesharing, Carsharing, Ridesharing, Others), by Application (Cars, Two-Wheelers, Others). The report covers global opportunity analysis and industry forecasts from 2021 to 2027. It is published in Valuates Reports under Automotive Industry Category.
The global Shared Mobility market size is projected to reach USD 145460 Million by 2027, from USD 90690 Million in 2020, at a CAGR of 6.5% during the forecast period 2021-2027.
Major factors driving the growth of the shared mobility market are:
- Increasing on-road car traffic and fuel prices, along with dwindling parking spaces, particularly in developed countries around the world are expected to fuel market expansion. Shared mobility helps avoid all the above scenarios.
- Shared mobility is more economical because it is less expensive than acquiring and maintaining a vehicle.
- Shared mobility reduces the number of automobiles on the road while also lowering CO2 emissions, resulting in a pollution-free environment.
- In an effort to minimize traffic congestion on roadways, various governments throughout the world are launching programs to increase the adoption of smart mobility
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TRENDS INFLUENCING THE SHARED MOBILITY MARKET
Increasing traffic congestion and low per capita income in emerging countries are two high-impact rendering drivers for the shared mobility sector. Increasing costs of vehicle ownership are encouraging individuals to opt for solutions offering to share a wide range of transportation modes. Consumers can use shared mobility for short-term transit at a lesser cost. Thus, increased traffic congestion and the growing acceptance of shared mobility are expected to drive the growth of the shared mobility market.
Investments from government entities towards strengthening shared mobility systems. Governments of every country are concerned about the increase in population, which leads to hazardous effects on the environment. Governments encourage people to restrain themselves from using automotive as much as they can. Furthermore, sharing rides among families and friends is one of the key ideas from the government to encourage people to opt for a shared ride instead of a personal ride, which is expected to enhance the growth of the global shared mobility market.
Shared mobility reduces the number of automobiles on the road while also lowering CO2 emissions, resulting in a pollution-free environment. A typical automobile emits 4.6 metric tonnes of carbon dioxide per year, according to the US Environmental Protection Agency. Every year, a half-Million tonnes of carbon dioxide is emitted into the atmosphere by millions of vehicles in cities.
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SHARED MOBILITY MARKET SHARE ANALYSIS
The Asia Pacific is expected to be the most lucrative segment during the forecast period. This is due to the high adoption rate of ride-hailing and car-sharing services in densely populated countries in the region
Ride hailing is expected to be the most lucrative segment during the forecast period. Ride hailing services were the most preferred services as they offered a convenient and cost-effective means of personal mobility with the help of a transportation network system.
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Major Players in the Shared Mobility Market
- Uber
- DiDi Chuxing
- Lyft
- Gett
- Grab
- Ola Cabs
- MLU B.V. (formerly Yandex.Drive)
- Meituan Bike (formerly Mobike)
- BlaBlaCar
- FREE NOW (formerly mytaxi)
- Share Now
- EVCARD
- Lime (Neutron Holdings)
- Gofun
- Zipcar
- Deutsche Bahn Connect GmbH (Flinkster)
- GreenGo
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SIMILAR REPORTS
- The global Ride Sharing market size is projected to reach USD 153000 Million by 2027, from USD 43200 Million in 2020, at a CAGR of 19.8% during 2021-2027.
- The global Mobility as a Service (MaaS) market size is projected to reach USD 394000 Million by 2027, from USD 87620 Million in 2020, at a CAGR of 23.9% during 2021-2027.
- The global Smart mobility market size was valued at USD 34.04 Billion in 2019 and is projected to reach USD 70.46 Billion by 2027, registering a CAGR of 20.2%.
- The global ride-hailing service market size was valued at USD 36,450.0 Million in 2017, and is projected to reach USD 126,521.2 Million by 2025, registering a CAGR of 16.5% from 2018 to 2025.
- The global micromobility market was valued at USD 40.19 Billion in 2020, and is projected to reach USD 195.42 Billion by 2030, registering a CAGR of 17.4% from 2021 to 2030.
- In 2020, the global Travel Mobility Scooter market size was USD 610 Million and it is expected to reach USD 1144.5 Million by the end of 2027, with a CAGR of 8.8% during 2021-2027.
- The global Enterprise Mobility in Retail market size is projected to reach USD 23777590 Million by 2027, from USD 5980250 Million in 2020, at a CAGR of 21.3% during 2021-2027.
- The global Enterprise Mobility market size is projected to reach USD 519720 Million by 2027, from USD 227020 Million in 2020, at a CAGR of 12.4% during 2021-2027.
- The global BYOD and Enterprise Mobility market size is projected to reach USD 120050 Million by 2027, from USD 49930 Million in 2020, at a CAGR of 12.9% during 2021-2027.
- The Electric Scooter and Motorcycle Market size was valued at USD 5560.9 Million in 2020 and is projected to reach USD 7618.5 Million by 2027, at a CAGR of 4.6% during 2021-2027
- The Global Electric Bike Market to grow USD 36,466.04 Million by 2025, at a CAGR of 10.78%.
To see the full list of related reports on the Mobility
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