Smart Cities and E-Bikes Propel Mobility on Demand Market Growth to 2031

DUBLIN, Aug. 4, 2023 /PRNewswire/ -- The "Mobility on Demand Market By Type, By Vehicle Type, By Propulsion Type, By Booking Type, By Commute Type: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to  ResearchAndMarkets.com's offering.

According to this report, titled, 'Mobility on Demand Market,' the mobility on demand market was valued at $552.90 billion in 2021, and is estimated to reach $1694.7 billion by 2031, growing at a CAGR of 11.8% from 2022 to 2031.

The report incorporates the study of the global mobility on demand market that focuses on an integrated, multimodal, and connected network system for transportation.

This technology provides various on-demand services to facilitate locomotion. Various types of vehicles available via mobility on demand include economy, executive, luxury, SUVs, and MUVs. Moreover, the mobility on demand services finds application in event transportation, employee transportation, local, outstation & airport transportation, and similar areas.

Manufacturers and consumers rely on various car rental schemes, which are cost-effective, such as leasing cars from their owners for a particular time period and then putting these cars on rental through app-based bookings. In addition, car rental players are using car rental management software to provide better services and automate the mobility business.

This management software also offers fleet optimizations, advanced pricing management, and custom reports, which help car rental companies grow their alternate transportation business. For instance, in June 2022, BMW AG collaborated with Sixt SE, an international mobility service, to launch the new BMW AG Add-On Mobility app, which allowed users to rent vehicles directly from Sixt SE.

The factors such as proactive government initiatives for smart cities, rise in venture capital and strategic investments, and adoption of e-bikes in the sharing fleet supplement the growth of the mobility on demand market.

However, low rate of internet penetration in developing regions and resistance from local transport services, coupled with varying government regulations in different countries are the factors expected to hamper the growth of the mobility on demand market. In addition, emergence of eco-friendly electric cab services and adoption of car rental management software creates market opportunities for the key players operating in the mobility on demand market.

For the purpose of analysis, the global mobility on demand market is segmented on the basis of type, vehicle type, propulsion type, booking type, commute type, and region. By type, the market is divided into sharing and renting.

By vehicle type, it is fragmented into two-wheelers, passenger cars, buses and rails, and others. By propulsion type, it is categorized into internal combustion engine (ICE) and electric and others. By booking type, it is further classified into online and offline. By commute type, it is fragmented into intracity and intercity. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Market Segments

By Type

• Sharing
• Renting

By Vehicle Type

• Two-wheelers
• Passenger Cars
• Buses and Rails
• Others

By Propulsion Type

• ICE
• Electric and Others

By Booking Type

• Online
• Offline

By Commute Type

• Intracity
• Intercity

By Region

• North America
• U. S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Russia
• Spain
• Rest Of Europe
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Rest Of Asia-Pacific
• LAMEA
• Latin America
• Middle East
• Africa

Key Market Players

• Bayerische Motoren Werke AG (BMW AG)
• Cabify
• Car2Go
• Delphi Automotive PLC
• Europcar Mobility Group
• Ford Motor Company
• General Motors Company
• Gett
• Hertz Corporation
• Intel Corporation
• International Business Machines Corp. (IBM)
• Lyft, Inc.
• Orix Corporation
• Robert Bosch GmbH
• Tomtom NV
• Toyota Motor Corporation
• Uber Technologies, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/ofvy3h

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