Mobility As A Service (MaaS) Market Size, Share, Growth Analysis, By Type(Ride-Hailing, Car Sharing, Taxi Services, Others), By Application(IOS, Android, Others), By Region - Industry Forecast 2024-2031

Mobility As A Service (MaaS) Market size was valued at USD 3.3 billion in 2019 and is poised to grow from USD 4.36 billion in 2023 to USD 53.81 billion by 2031, growing at a CAGR of 32.2% in the forecast period (2024-2031).

The transportation industry contributes significantly to global air pollution. Globally, rising air pollution caused by high automotive traffic is necessitating the use of an alternate mode of transportation. Over the projected period, the Mobility as a Service (MaaS) Market is likely to be driven by the increased popularity and adoption of shared mobility. Automobile sharing is seen as a cost-effective alternative to car ownership since it saves consumers' maintenance and fuel costs; it also contributes to lower levels of air pollution. Furthermore, rising consumer disposable income and increased investment in transportation infrastructure are supporting mobility as a service sector.

Various government initiatives in emerging nations to promote the use of mobility as a service are proving advantageous to the transportation industry. For example, the European Union Commission and government organizations such as CERRE offer incentives to car owners in order to stimulate the use of ride-hailing services. Another element propelling the industry is the increased usage of e-bike sharing by everyday office commuters, which saves time and helps to cut emissions created by taxis.

US Mobility As A Service Market is poised to grow at a sustainable CAGR for the next forecast year.