Mobility Service
Rapid Growth of the Mobility-As-A-Service Globally
The Mobility-As-A-Service is growing rapidly in the transportation industry. This service aims to provide on-demand and multi-modal transportation services to people. It is also considered to be the revolutionized way of travel for people.
Due to this, the Mobility-As-A-Service is in demand globally. In addition to this, according to the research report of Astute Analytica, the global Mobility-As-A-Service market is growing at a compound annual growth rate (CAGR) of 17.5% during a forecast period from 2023 to 2031.
Mobility-As-A-Service combines various modes of transportation and allows consumers to choose from a range of options for their journey. Mobility-As-A-Service (MaaS) includes bike rentals, car-hailing, carpooling, trains, car rentals, buses, trains and many more.
The reason behind the rapid growth of MaaS is: -
It allows passengers to choose the most suitable option for them to travel.
It is convenient for passengers to choose MaaS because they can select any mode of transport and make bookings through a single app or a platform.
The easy accessibility and availability of this service draw the attention of the people.
Due to advanced technology and the rise in infrastructure as well as the aging population it provides effective solutions to the transportation industry.
The advantages of MaaS: -
Helps in higher utilization of the vehicle: - MaaS helps in reducing the overall number of vehicles, instead of using personal vehicles people like to choose MaaS as their mode of transport. Which is no use for their vehicle.
It provides an opportunity to recover asset cost: - As it is said earlier that many people choose MaaS as their mode of transportation to travel to their desired destination but also some of the people own vehicles but MaaS gives opportunity to such people who wish to provide to Moblitity-As-A-Service providing organization and can recover the cost of their assets.
It decreases cost per user: - Owning a vehicle costs so much money and time for its maintenance but thanks to MaaS it can save lots of money and time for people and reduce stress as well.
How does it benefit the organizations?
Well, the MaaS is witnessing significant investment and partnerships from various stakeholders. This includes transportation service providers, technology companies, and venture capitalists.
There are a few examples of MaaS organizations, GoGet, FlexiCar, Uber, Lime Scooters, Jump Bike, etc.
Other than MaaS also benefits in improving mobility, reducing congestion, enhancing user experience, and environmental sustainability which makes it a promising market with tremendous growth opportunities.
In conclusion
The rapid growth of MaaS is not only beneficial for organizations but also helps in the development of the cities into smart cities. MaaS is a perfect example of utilizing limited resources but providing vast services. For cities that lack transportation facilities, MaaS is providing opportunities to overcome such issues. People can access such services that are making them and the city advance.
Also, North America has shown remarkable growth and dominance in the global Mobility-As-A-Service market in recent years. In 2022, it generated a revenue of $ 44.91 billion and established a strong position in the global MaaS landscape.
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