Shared Mobility Market Growth, Size, Opportunities, Trends, Regional Overview, And Key Country Forecast to 2031
The Shared Mobility Market Size was valued at USD 255.96 billion in 2023 and is predicted to reach USD 810 billion by 2031, growing at a CAGR of 17.3% from 2024 to 2031.
Shared mobility is the shared use of a vehicle, motorcycle, scooter, or other method of transportation to access transportation services as needed. The essential concept of shared mobility is the use of the same vehicle by multiple people. It comprises public transportation; micromobility (bike and scooter sharing); automobile-based modes (car sharing, rides on demand, and microtransit); and commute-based modes or ridesharing (carpooling and vanpooling). Furthermore, it provides various benefits, including efficient travel, lower transportation expenses, lower fuel consumption, improved traffic situations, and lower greenhouse gas emissions.
The global shared mobility market is expanding due to increased venture funding and strategic investments, government initiatives for smart cities, and the inclusion of e-bikes in the sharing fleet. However, the market’s growth is hampered by poor internet penetration in developing nations. Furthermore, an increase in government initiatives to construct bike sharing infrastructure is likely to provide growth prospects over the forecast period.
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The shared mobility market is divided into segments based on service model, vehicle type, propulsion, sales channel, and region. There are four types of service models: bike sharing, automobile sharing, public transportation, and microtransit. Vehicle types include two-wheelers, passenger vehicles, buses and trains, and others. Vehicle propulsion is divided into three categories: internal combustion engines, electric and hybrid cars, and others. There are two types of sales channels: offline and online. The paper examines regions such as North America, Europe, Asia-Pacific, and LAMEA.
The huge increase in the choice for carpool and bike pool services among regular office commuters is the key factor driving the expansion of ride hailing and ride sharing services. Furthermore, the increasing number of services given by the top shared mobility industry companies, such as Uber and Ola, as well as the ability to select convenient pick-up and drop-off locations, are pushing customers to use ride hailing and ride-sharing services. Furthermore, the huge increase in the number of multiple ride-hailing and ride-sharing services, such as bike sharing and auto sharing, even for short-distance travel, is driving the expansion of the shared mobility market.
Key Companies of Shared Mobility Market
-BlaBlaCar
-Yandex LLC
-Uber Technologies Inc.
-Lyft Inc.
-Meru Mobility Tech Pvt. Ltd.
-Bolt Technology OÜ
-ANI Technologies Private Limited (Ola)
-Didi Chuxing Technology Co.
-EasyMile SAS
-Zoomcar India Private Limited
-Getaround Inc.
-Free2move
-Autocrypt Co.Ltd.
-Cabify Espaa S.L.U.
-Blu-Smart Mobility Pvt. Ltd.
Market Segmentation
On The Basis of Service Model
-Ride-Hailing
-Bike Sharing
-Ride Sharing
-Car Sharing
-Others
On The Basis of Vehicles
-Cars
-Two-Wheelers
-Others
On The Basis of Business Model
-P2P
-B2B
-B2C
On The Basis of Power Source
-Fuel Powered
-Hybrid Electric Vehicle (HEV)
-Plug-in Hybrid Electric Vehicle (PHEV)
-Battery Electric Vehicle (BEV)
Key benefits of the report:
- This study presents analytical depiction of the global Shared Mobility market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Shared Mobility market share.
- The current market is quantitatively analyzed to highlight the global Shared Mobility market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Shared Mobility market analysis based on the present and future competitive intensity of the market.
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