Global Mobility as a Service (MaaS) Market (2023-2028) by Service, Business Model, Solution Type, Transportation Type, Application, Vehicle Type, Propulsion Type, Operating System, Mode and Geography, Competitive Analysis, Ansoff Analysis

Growth of the Maas Market is Due to the Proliferation of Smartphones and Advanced Transportation Apps

The Global Maritime Vessels Market is estimated to be USD 150.12 Bn in 2023 and is expected to reach USD 162.6 Bn by 2028, growing at a CAGR of 1.61%.

Drivers include smartphone adoption and advances in the 4G and 5G networks. Connectivity is a necessary condition for MaaS because it is an internet-based service. According to the International Telecommunication Union, a projected 5.16 billion people, or 64.4% of the world's population, will be utilising the Internet by the end of 2023. Given that mobile applications like ride-sharing run on smartphones and necessitate strong connectivity, smartphones are essential infrastructure for new mobility models. With developed nations making up over 80% of smartphone ownership, smartphone use has significantly expanded over the past few years.

A revolution in cities and intercity mobility is predicted to be facilitated by the 5G network and improved telecom infrastructure. Traffic safety and throughput can be increased with wireless communication systems (like DSRC). The perception-reaction time of the driver can be shortened, and safety can be increased by onboard units (OBU) in connected and automated vehicles (CAVs). To govern and manage the platoon, such as merging, separating, and maintaining a specific gap, CAVs can communicate with other vehicles and roadside units (RSUs) to gather information from them. They can also work with other CAVs to plan their actions about those of the platoon. The further development of OBU, RSU, etc., permits and improves the MaaS of vehicle platooning and would call for better and faster telecom infrastructure. As a result, the growing use of smartphones in conjunction with effective telecom infrastructure will let MaaS mobile applications provide smooth navigation and payment services and assist with vehicle platooning.

Restraint: Inability to scale MaaS applications due to infrastructure issues. A user needs access to every transport option through a single application for MaaS to function. Numerous transport and mobility service providers, each with their rates and terms of service, must be supported by this application. Due to the complicated software required, the challenges in maintaining the data gathered and settling financials, and the lack of commercial viability, at least in its current form, mobility as a service is unlikely to scale. Some operators may be able to create their software, but many cannot. A user's experience is fragmented due to the divergent approaches to the software used, which vary based on the operator's goals. These approaches also bring potential legal and ethical issues regarding data processing. Despite the enthusiasm of local governments and transport experts and the abundance of user apps, MaaS pilots worldwide have not yet accomplished the whole set of objectives fundamental to the concept of MaaS. Mobility service aggregation combines trip planning, fare calculation, fare payment, and ticketing into a single service and then distributes platform revenue to the platform's participating transportation providers.

MaaS players must provide consumers various services and options at scale, guiding them where appropriate to make the best decisions for their unique needs. This will make them more appealing and drive customers away from the car-ownership model. Since public transport operators stand to lose a lot if their assets are not used properly, stakeholders must have a reliable working relationship with them.

The lack of a regulatory framework to facilitate the integration of public transportation authorities with private transportation providers, the increased complexity of the software used to develop the application, and inadequate infrastructure for payment settlement and ticketing solutions all limit the ability of a MaaS platform to scale, which is likely to restrain the growth of the MaaS market.

Opportunities exist to include on-demand ferry and freight services. While privately owned organizations typically manage intercity transportation, urban transportation networks are normally operated by state-owned businesses. Because of this, pricing for urban transit is generally not adjustable, whereas ferries (and airlines) utilize flexible pricing methods based on contemporary revenue-management strategies. As a result of electrification, automation, and process digitalization, the transportation sector is evolving into a high-tech industry with numerous technological opportunities where profitability encourages innovation. These guidelines are quite straightforward to apply to MaaS, especially MaaS in the ferry business.

Owning a particular means of transport is a major factor in urban mobility. MaaS thus aims to convert the current asset ownership model into a mobility one that relies on subscriptions. Few people own a vehicle, such as a ship, catamaran, yacht, etc., which makes sea passenger transportation particularly uncommon. Therefore, MaaS's primary goal for sea voyages is to meet the demand for an integrated system that bundles various transit options and centralizes trip planning and ticketing for every component of the entire voyage.

Service providers of MaaS applications can also expand their offerings to include commercial goods. As a result of their ability to link consumers to on-demand transportation, they can assist supply chain participants with load control. By lowering their overall costs and assisting them in minimizing supply chain emissions, supply chain stakeholders can gain from using MaaS apps.

To connect shippers and carriers to ship-specific cargoes on-demand, freight brokering also uses MaaS. As a result, freight logistics are improved in efficiency, cost, and sustainability. This involves integrating various transport modes and services to optimize the transportation of goods. Transfix, Convoy, and Uber Freight are some of the competitors already in the industry; they offer apps that act as marketplace aggregators.

Therefore, there is a significant opportunity for MaaS application developers to include on-demand ferry and freight services in their service offerings to create new revenue streams.

Challenges: Integration of tickets and payment systems can be challenging. Payment integration for all used transport modes must be done in a single app to complete MaaS implementation. Thus, the user may control the complete transit experience from the MaaS app rather than being forwarded to another app or external system to pay for the ticket. Users have shown reluctance to embrace MaaS applications due to the usage of numerous ticketing and payment channels and the absence of an account-based system. A critical quantity of operators must be persuaded to join a single MaaS platform, which calls for efficient partner settlements and financial administration. The application's user attractiveness increases as the number of transit providers increases.

Market Segmentations

The Global Mobility as a Service (MaaS) Market is segmented based on Service, Business Model, Solution Type, Transportation Type, Application, Vehicle Type, Propulsion Type, Operating System, Mode, Payment & Transportation, Commute Type, and Geography.

By Service Type Analysis

By service type, the market is segmented into ride-hailing, car-sharing, taxi services, and others. The ride-hailing segment is anticipated to dominate the market during the mobility as a service market forecast period. Various options for booking and comfort offered by ride-hailing services are one of the major reasons fueling the demand for the ride-hailing segment. The ease of pick-and-drop facility offered by ride-hailing services compared to conventional taxis is also one of the reasons driving the market.

By Application Type Analysis

Low Price of Android OS Compared to Others to Boost the Segment Growth. By application type, the MaaS market is segmented into iOS, Android, and others. The Android segment is expected to dominate the MaaS market during the forecast period. The low price of Android OS compared to iOS is one of the major reasons for this segment's growth. The iOS segment is expected to witness a significant growth rate in the market during the forecast period. Even though its pricing is much higher than the Android operating system, many consumers are inclined toward iOS owing to its high security and data protection privacy.

Recent Developments

• Uber announced the expansion of its offering to include a B2B service called “Uber Bus for Business” as a global first from Egypt. The service offers companies a tailored transport program for an everyday commute of their staff. The service also addresses Cairo’s congestion challenge by reducing traffic on the street - February 2022
• Uber announced a strategic partnership with Arrival, the global technology company creating electric vehicles. Uber entered into the partnership to develop and deploy an electric fleet on its ride-hailing platform. This will also support Uber’s plan to become a fully emission-free platform by 2040 - May 2021
• Uber announced the sale of Apparate USA LLC. (ATG Business), a subsidiary focused on developing and commercializing autonomous vehicle technologies to Aurora Innovation, Inc. The company’s ATG Business was included in Uber’s ATG & other technology platform segments - December 2020

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Citymapper, MaaS Global, Skedgo (Australia), FOD Mobility UK Ltd., Moovit, etc.

Countries Studied

• Americas (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes the publisher's proprietary tool used to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the Global Mobility as a Service (MaaS) Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The report analyses the Global Mobility as a Service (MaaS) Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.

Why buy this report?

The report offers a comprehensive evaluation of the Global Mobility as a Service (MaaS) Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.

The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.

The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.

The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.

The report also contains the competitive analysis using the analyst's proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market

This product will be delivered within 2 business days.