Rapid urbanization urges social and economic lifestyle changes in terms of how people live, commute, and work. Since mobility is one of the major needs for an urban lifestyle, people try to adopt city-friendly transport means that is conducive for daily life. Congested city infrastructure makes personally-owned transport modes more and more tiresome while increasing the role for shared mobility services. The Mobility-as-a-service (MaaS), also known as Transportation-as-a-Service (TaaS), emerged as a response to the increasing mobility need in cities across the globe. Today, MaaS is a dynamic and fast-growing market incorporating urban mobility solutions from both public and private organizations. Efficiency-enhancing is the basic maxim for organizations performing in this industry to address challenges of urban life mobility. The aim is to provide customers with the most convenient and customized services so they may choose the method and means that best fit their budget and travel time constraints. In less than a decade, this market is expected to increase almost ten times. By 2025, the MaaS market is expected to exceed 230 billion U.S. dollars worldwide.
Urban mobility and types of MaaS
Urban infrastructure, social impact, market attractiveness, systems efficiency, and innovation are crucial factors determining urban mobility level of cities. Usually, cities with high urban mobility index tend to offer better living standards for its citizens. As of 2020, Singapore and London scored as the leading cities for their urban mobility infrastructure. Ride-sharing, scooter-sharing, e-hailing, bike-sharing, and car-sharing are some of the main programs carried out by MaaS organizations across the globe. The MaaS market is expected to reach a market capitalization of about 9.5 trillion U.S. dollars by 2030. As a sub-market of MaaS, the bike-sharing market size is expected to double in less than eight years, reaching roughly five billion U.S. dollars in size by 2025. Between 2018 and 2020, the global shared motor scooter fleet increased rapidly to some 95,000 units by the end of June 2020. While some European cities have a large share in motor scooter fleets, the surge in the global fleet size has been driven by India.
Companies shaping the MaaS industry
Immense lucrative business opportunities in the MaaS market attract a multitude of competitors to offer somewhat differentiated services and sustain the strong market position. This market dynamic made the MaaS market a ferociously competitive one, where Uber, DiDi, Grab and Lyft are leading firms with high growth plans. At the moment ride-sharing is still more expensive than owning a car in terms of annual cost comparisons. Yet, companies, such as Uber or DiDi, aim to make ride-sharing services so cheap such that owning a car will be a disadvantageous choice to make by 2027. The shift in cost structures can dramatically reshape how people commute or pursue urbane lifestyles.
Investment in MaaS technologies
Much of the success of the MaaS industry goes hand in hand with the emergence of accompanying technologies. To ensure further growth potential, the industry organizations invest in research and development of technologies and services that may radically reshape how we mobilize ourselves in cities. Consequently, firms or start-ups within this industry must spend large sums of cash to establish themselves and be at the vanguard of the MaaS industry. One must also note that the total research and development of MaaS firms increase immensely every year. During 2019, Lyft invested over 1.5 billion U.S. dollars to advance its technological competitiveness. Autonomous vehicle technology is expected to become the hallmark of ride-sharing services because it will enable immense cost-saving for firms. Companies in the MaaS industry see in autonomous vehicles and self-driving cars the most vital part of their potential growth strategy. For instance, only Uber invested over 450 million U.S. dollars in self-driving cars research and development unit during 2018. Furthermore, integrated journey planning application technology will make it easier and more convenient for customers to map out trips through and between cities. It is expected that connectivity beyond the last mile will be accomplished by using different modes of transportation, such as road and rail transport. The aim is to provide customers with the most convenient and customized services so they may choose the method and means that best fit their budget and travel time constraints.
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In the following 4 chapters, you will quickly find the 27 most important statistics relating to "Mobility-as-a-Service".