MOBILITY AS A SERVICE MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Mobility as a Service (MaaS) Market Analysis:

The Mobility as a Service Market is projected to experience significant growth, increasing from USD 0.73 trillion in 2023 to USD 1.04 trillion by 2028, at a Compound Annual Growth Rate (CAGR) of 7.43% during the forecast period (2023–2028).

The COVID-19 pandemic had a detrimental impact on the Mobility as a Service Market. The implementation of lockdowns and social distancing measures worldwide resulted in a decrease in the need for mobility, except for emergency purposes. The market’s primary business area was severely affected by almost zero public movements, leading to a decline in the economy. Despite the challenges posed by the COVID-19 pandemic, it has also presented opportunities for innovation and adaptation, such as the deployment of MaaS solutions for contactless payments and contact tracking.

Over the medium term, Mobility as a Service (MaaS) is an expanding industry that aims to provide individuals and businesses with integrated, on-demand transportation solutions. It represents a shift from traditional modes of transportation, where consumers can access a range of mobility alternatives through a single platform, often via a subscription-based approach. The market is expected to grow rapidly in the coming years due to increasing urbanization, rising traffic congestion, and a need for more sustainable transportation alternatives.

Passengers’ preferences for utilizing taxi services and ride-sharing services across the country are expected to increase, leading companies to enhance their options and expand their operations to be provided in mobile applications to retain their respective market shares in a highly competitive market.

The growing emphasis on reducing carbon emissions and mitigating climate change is one of the primary drivers of the MaaS sector. MaaS platforms can help reduce the environmental impact of transportation by providing more sustainable mobility options.

Changing consumer preferences, particularly among younger generations that prioritize convenience, flexibility, and cost-effectiveness in their mobility options, is another significant factor driving the market. In addition to traditional transportation corporations and tech startups, other players, such as automakers and public transportation agencies, are entering the MaaS sector to stay competitive and meet evolving customer expectations.

Government initiatives and legislation, such as subsidies for electric vehicles and encouragement for carpooling and public transit use, are also shaping the MaaS market. The MaaS sector is powered by primary technologies such as mobile apps, Internet of Things (IoT) gadgets, and data analytics tools, enabling more effective and individualized transportation services.

Get the free sample report of the Mobility as a Service Market

Comments

Post a Comment

Popular Posts

Aviation Industry Set to Soar: Market to Hit USD 395.76 Billion by 2030 Amid Stable Growth

The aviation industry is projected to grow from USD 343.54 billion in 2025 to USD 395.76 billion by 2030, registering a compound annual growth rate (CAGR) of 2.87% during the forecast period of 2025 to 2030. Market Overview The global aviation industry is a vital part of the transportation sector, playing a critical role in global trade, tourism, and connectivity. As consumer demand for air travel rebounds post-pandemic and commercial fleets undergo modernization, the aviation market is undergoing transformative shifts. Emerging markets, technological innovation, and sustainability efforts are reshaping the aviation industry outlook, contributing to measurable aviation industry growth worldwide. Key Trends in the Aviation Industry Rise of Sustainable Aviation Fuel (SAF) One of the leading aviation industry trends is the growing emphasis on sustainability. Major aviation industry companies are investing in SAF to reduce carbon emissions, in line with international environmental goals. D...
Read more

Recreational Boating Market Set to Reach USD 36.82 Billion by 2030: Key Growth Drivers and Trends

  Market Overview The global recreational boating market is projected to expand from USD 28.71 billion in 2025 to USD 36.82 billion by 2030, reflecting a compound annual growth rate (CAGR) of 5.1% during the forecast period. This growth is primarily driven by increasing participation in water-based leisure activities, technological advancements in boat manufacturing, and a rising preference for sustainable boating options. Key Trends Technological Advancements in Boat Design and Functionality Innovations such as smart navigation systems, integrated IoT devices, and electric propulsion are enhancing the boating experience, making it more convenient and eco-friendly. Surge in Watersports and Fishing Activities An increasing number of individuals are engaging in watersports and fishing, driving demand for specialized recreational boats tailored to these activities. Shift Towards Sustainable Boating Solutions The adoption of electric and hybrid-powered boats is on the rise, aligning wi...
Read more

Kuwait Dairy Products Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Kuwait Dairy Products Market Analysis: The Kuwait Dairy Products Market is projected to experience significant growth in the coming years. According to estimates, the market size is expected to increase from USD 1.06 billion in 2024 to USD 1.42 billion by 2029, with a compound annual growth rate (CAGR) of 5.91% during the forecast period of 2024–2029. During the initial phase of business and community shutdowns, there was a surge in demand for dairy products in Kuwait. However, the disrupted supply chains, including dairy snacks, posed a major challenge. As a result of the lockdown, Kuwait and other Middle Eastern countries closed their borders or implemented trade barriers, affecting the availability of dairy products. The Kuwaiti dairy industry is closely regulated by the government, which ensures compliance with health and hygiene regulations that align with both GCC and international standards. Additionally, the industry is characterized by active foreign trade, involving both expo...
Read more

Coffee Machine Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Coffee Machine Market Analysis: 1. In 2020, the coffee machine market was valued at approximately USD 5.11 billion, and experts predict that it will experience a compound annual growth rate (CAGR) of over 4.5% from 2022 to 2027. However, the market faced challenges due to the COVID-19 pandemic, which led to restrictions on manufacturing activities and disrupted supply chains. As a result, coffee machine manufacturers in the United States and Europe had to temporarily halt production due to the lockdown in China, where they sourced various input supplies. Despite this setback, the market’s growth was sustained by the expansion of commercial infrastructure and the increasing number of offices. 2. The coffee industry has been undergoing significant transformations, driven by innovations, new product launches, and the surging demand from consumers. The rising popularity of instant non-alcoholic beverages, particularly coffee, in restaurants and office cafeterias has been a key factor drivi...
Read more