Shared Mobility Market Size, Share, Growth Analysis, By Service model (Ride hailing, ride sharing), By Distribution channel (Online, Offline), By Vehicle, By Region - Industry Forecast 2024-2031

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.