USD 180.85 billion
Shared Mobility Market Size, Share, Growth Analysis, By Service model(Ride hailing, ride sharing, bike sharing, car sharing), By Vehicle type (Passenger cars, light commercial vehicles, buses & coaches, micro mobility), By Business model(Passenger to Passenger (P2P), Business to Business (B2B), Business to Consumer (B2C)), By Vehicle propulsion(IC engine vehicles, electric vehicles), By Sales channel(Online, offline), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25C2022 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
145
|Figures:
78
Shared Mobility Market Insights
Shared Mobility Market size was valued at USD 180.85 billion in 2022 and is poised to grow from USD 209.42 billion in 2023 to USD 784.16 billion by 2031, growing at a CAGR of 15.8% in the forecast period (2024-2031).
Shared mobility is a transportation system in which travellers share a vehicle either concurrently as a group (like ride-sharing), or over time (like carsharing or bike sharing) as personal rental, and thus share the cost of the journey, resulting in a hybrid between private vehicle use and mass or public transportation. It is a transportation solution that allows users to use transportation services only when they are needed. It refers to a variety of transportation modes such as carsharing, bicycle-sharing systems, ridesharing companies, carpools, and micro transit. Some of the benefits include improved transportation accessibility, reduced driving, and lower personal vehicle ownership. Furthermore, these networks also have the possibility of expanding the reach of public transportation by filling existing gaps public transportation systems. In some cases, they can also provide users with economic benefits in the form of cost savings. The market is expected to be highly influenced by an increase in preference for shared mobility in terms of reducing vehicle ownership, as well as an increase in public transportation congestion.
US Shared Mobility Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Ride hailing
Fastest Growth
Ride hailing
Growth Rate
15.8% CAGR
Global Shared Mobility Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Shared Mobility Market Segmental Analysis
Shared Mobility Market is segmented based on the service model, vehicle type, business model, vehicle propulsion, sales channel, and region. Based on service model, the Shared Mobility Market is segmented into ride hailing, ride sharing, bike sharing, car sharing, and others. Based on vehicle type, the Shared Mobility Market is segmented into passenger cars, light commercial vehicles, buses & coaches, micro mobility. Based on business model, the Shared Mobility Market is segmented into Passenger to Passenger (P2P), Business to Business (B2B), Business to Consumer (B2C). On the basis of vehicle propulsion, the Shared Mobility Market is segmented into IC engine vehicles, electric vehicles. On the basis of sales channel, Shared Mobility Market is segmented into Online, offline. Based on region, Shared Mobility Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Shared Mobility Market Analysis by Service Model
Based on service model, the market is segmented into ride hailing, ride sharing, bike sharing, car sharing, and others. The ride hailing segment accounted for the largest shared mobility market share in 2021 and is expected to grow significantly during the forecast period due to rising number of internet users in developing countries globally. The emergence of new types of services aimed at ensuring complete customer satisfaction is also expected to function as a driving force for the segment growth.
During the forecast period, the bike sharing segment is expected to grow rapidly. Two-wheeler services are expected to grow in the coming years because they are considered the quickest and most efficient way to travel on busy city streets. Various government initiatives are also expected to boost the demand for two-wheeled transportation.
Shared Mobility Market Analysis by Vehicle Type
Based on vehicle type, the shared mobility market is segmented into passenger cars, light commercial vehicles, buses & coaches, micro mobility. Passenger cars segment is estimated to have the largest market share, and are also predicted to expand at a reasonable rate during the forecast period due to the attractive features and driving experience they provide. Additionally, the introduction of new services by ride-hailing companies is expected to accelerate market growth.
Global Shared Mobility Market By Service Model
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Shared Mobility Market Regional Insights
Asia Pacific dominated the shared mobility market share in 2021, accounting for the highest revenue share, and is expected to grow significantly over the forecast period due to widespread adoption of technology and the increasing penetration of smart homes in the region. Costs of traffic and car ownership continue to rise in countries such as China and India. These services have a high growth potential in developing countries such as India, where urban populations are growing and transportation infrastructure is being built. As a result, a regulatory environment favourable to their adoption has emerged.
MEA is expected to grow at the fastest rate during the forecast period. The increasing demand for shared transportation solutions in various countries such as the United Arab Emirates and South Africa is propelling the market growth. The government is developing alternative methods to reduce traffic congestion and greenhouse gas emissions (GHG), which is anticipated to expand the regional market over the forecast period.
Global Shared Mobility Market By Region
- Largest
- Fastest
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Shared Mobility Market Dynamics
Shared Mobility Market Driver
- The surge in growth of the automobile industry, as well as the development of an integrated ecosystem within the transportation industry and government strategies to promote shared mobility solutions for avoiding possible congestion on roads, are expected to support the growth of the market over the forecast timeline.
Shared Mobility Market Restraint
- The inaccessibility of transportation prevents people with various types of disabilities and health problems from using mobility services, lowering their quality of life. It restricts their travel, reduces leisure opportunities, and can reinforce poverty by limiting access to opportunities for education and employment, negatively affecting the market.
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Shared Mobility Market Competitive Landscape
Global shared mobility market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Shared Mobility Market Top Player's Company Profiles
- Uber Technologies Inc.
- Lyft Inc.
- Grab Holdings Inc.
- Didi Chuxing Technology Co. Ltd.
- BlaBlaCar
- Car2Go (Daimler AG)
- Gett Inc.
- Lime
- Zipcar Inc.
- Ola Cabs
- GoGet CarShare
- Easy Taxi
- Cabify
- Careem Inc.
- Bird Rides Inc.
- Cityscoot
- VOI Technology AB
- Jump Bikes
- Turo Inc.
- Wheels Labs Inc.
Shared Mobility Market Recent Developments
- In October 2022, Uber introduced electric cab services in Delhi-NCR. Furthermore, the Uber electric feature is accessible to riders via the reserve feature on the Uber mobile app.
- In June 2022, Uber Technologies Inc. has launched UberX Share, which provides shared rides in New York, San Francisco, Chicago, Los Angeles, Portland, Phoenix, Pittsburgh, San Diego, and Indianapolis in the United States. UberX Share, which allows riders to share a ride, save money, stay on schedule, and make a sustainable choice, will be expanded.
Shared Mobility Key Market Trends
- Increased adoption of shared electric mobility, which aids in the reduction of the cost of shared mobility vehicles such as ride-sourcing and ride-sharing because electric vehicles reduce fuel expenses and costs.
- Autonomous vehicles are becoming more popular as they eliminate the need for a driver and other vehicle expenses. Due to an increase in demand for autonomous shared vehicles such as shuttles and robo-taxis, many investors are also starting to focus on the e-hailing business.
Shared Mobility Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global shared mobility market analysis, customers’ increasing demand for economical and affluent modes of transportation in MEA region is expected to drive the growth of the global market throughout the forecast period. However, individuals are hesitant to share their vehicles with random people in the ride-sharing scenario, resulting in a decrease in the amount of vehicles participating in the segment, resulting in negatively affecting the growth of shared mobility market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 180.85 billion |
| Market size value in 2031 | USD 784.16 billion |
| Growth Rate | 15.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Shared Mobility Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Shared Mobility Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Shared Mobility Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Shared Mobility Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Shared Mobility Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Shared Mobility Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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