What is the global market size of the Shared Mobility Market?

Global Shared Mobility Market size was valued at USD 180.85 billion in 2021 and is poised to grow from USD 209.42 billion in 2022 to USD 784.16 billion by 2030, growing at a CAGR of 15.8% in the forecast period (2023-2030).

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 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.

Shared Mobility Market Report Snapshots

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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).

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. '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.'

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.

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.

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.

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Shared Mobility Market Dynamics

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