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Growing Concerns over Greenhouse Gas Emissions to Propel the Mobility as a Service Market Growth | CAGR: 18%| UnivDatos Market Insights
Mobility as a Service (MaaS) is the integration of different transport services in one single digital mobility offer, with active mobility and an efficient public transport system as its basis. owing to the rising urbanization and smart city initiatives coupled with increasing adoption of on-demand mobility services. Moreover, increasing focus reducing vehicles on the road, utilizing existing infrastructure for different economic scales, is further expected to drive the adoption of MaaS, globally.
Furthermore, Key players in the industry have been highly involved in partnerships and collaborations to meet the competitive edge in the market.
Some of the major players operating in the market include ANI Technologies Pvt. Ltd., Lyft Inc., Uber Technologies Inc., Beijing Xiaoju Technology Co. Ltd., Grab Holdings Inc., Hertz Global Holdings Inc., Avis Budget Group Inc., Enterprise Holdings Inc., Europcar Mobility Group S.A., and Sixt SE.
The COVID-19 pandemic adversely affected the mobility-as-a-service market. With the implementation of lockdowns and social distancing regulations, worldwide, the need for mobility services reduced significantly, except for emergency purposes. With nearly zero public movements, the market growth was severely hit. However, the pandemic has caused a surge in the popularity of micromobility and other services, as, being self-driven, the vehicles significantly reduce the risk of contracting the infection. Thus, people are expected to rely even more on micromobility for their daily mobility needs in the coming years.
The global mobility as a service market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
APAC to witness highest growth during the forecast period. The major factors driving the growth of the market include the increasing need for reducing air pollution and transportation cost, proliferating demand for efficient micromobility services for first- and last- mile connectivity, and declining battery price. The growth of the MaaS ecosystem has been exponential in the region, due to factors such as high availability, low pricing, and ease of functioning. The growth in adoption rate of Maas has been exponential recently. This is mainly due to the low-cost travel option offered under services such as micromobility service. Along with cost saving, micromobility can also save time of travel, due to its compact and swift nature. Further, the growth of the industry is also attributed to growing working population and expanding middle-class population thus creating demand for new-age on-demand travel services. Moreover, major services providers in the market are continuously focusing on business expansion in order to attain a key position in the market.
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Mobility as a Service market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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