Mobility as a Service Market - the Opportunities and Areas to Work On

Albany, NY -- (SBWire) -- 12/27/2018 --Mobility as a service (MaaS) involves a combination of various transport modes such as car, bus, and bikes on a single mobility solution, which is accessible on demand. MaaS is being used to enhance transportation offerings. It combines transportation options from various providers, thereby controlling everything from travel planning to payments. The key objective of MaaS is to provide an alternative to private cars, as it helps reduce traffic congestion and is a more convenient, sustainable, and cheaper option to traditional transport. It allows travelers to pick most streamlined and personalized way of getting around for any given journey.

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Mobility as a Service solutions is playing an important role by allowing travelers to choose from the most streamlined and way of getting around for any given journey. According to Accenture's Mobility as a Service study 2018, profits from the car making could decrease to US$ 137.78 Bn and profits from the mobility services could increase to US$ 248.45 Bn. This is attributed to continuous improvements in the autonomous vehicle technologies.

Increasing demand for MaaS among consumers for better transport infrastructure, rise in demand for a one stop solution to fulfill transportation service needs, rise in the number of original equipment manufacturers (OEMs) are projected to drive the global mobility as a service market. Additionally, increasing adoption of mobile devices and growing penetration of internet data services are projected to propel the market.

However, requirement for capital investments and lack of availability of technological expertise are likely to restrain the market. Conjunction of various transport provider chains in holistic transport service ecosystem is creating opportunities in the market. Some of the popular payment methods used by users for mobility as a service include monthly subscription model and pay as you go model. Also the growth of electric vehicles for comfortable and clean transport at a lower cost is also playing an important role in the growth of mobility as a service (MaaS)

The global mobility as a service market can be categorized based on vehicle type, service, application type, business model, enterprise size, end-use industry, and region. Based on vehicle type, the market can be classified into busses, cars, and air flights.

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