Mobility on Demand Market Worth $1,694.7 Billion: Growth Trends, Key Drivers, and Competitive Landscape (2031)

By vehicle type, the two-wheelers segment dominated the global mobility on demand market in terms of growth rate.

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, April 25, 2024 /EINPresswire.com/ -- The global 𝐌𝐨𝐛𝐢𝐥𝐢𝐭𝐲 𝐨𝐧 𝐃𝐞𝐦𝐚𝐧𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 generated $552.9 billion in 2021, and is expected to reach $1,694.7 billion by 2031, growing at a CAGR of 11.8% from 2022 to 2031. The report provides an in-depth analysis of top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/3123

The concept of mobility on demand is typically attributed to the transportation options that are accessed conveniently, on-demand, or in real time, at an individual's leisure when they request it. Mobility on Demand is achieved through a combination of private and public transportation assets and technologies, working together to allow commuters a customized way to travel with the aid of new software solutions. The technology can decongest urban transit systems while creating opportunities in rural areas where traditional mobility services are inadequate. Currently, various mobility on demand market players operating in the business are collaborating with automobile manufacturers to expand their taxi fleet of electric cars for mobility sharing or renting purposes

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

The leading players operating in the mobility on demand market are Aptiv, BMW AG, Cabify España S.L.U., Car2go NA, LLC, Cityscoot, Europcar Mobility Group, Ford Motor Company, General Motors, Gett, The Hertz Corporation, Intel Corporation, IBM, Lyft, Inc., Robert Bosch GmbH, Toyota Motor Corporation, Uber Technologies Inc., and Yulu Bikes Pvt Ltd.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/mobility-on-demand-market/purchase-options

Based on type, the sharing segment held the largest share in 2021, accounting for more than three-fourths of the market. However, the renting segment is estimated to register the highest CAGR of 13.4% during the forecast period.

On the basis of vehicle type, the buses and rails segment dominated the market in terms of revenue in 2021, contributing to nearly half of the market. However, the two-wheelers segment is projected to portray the highest CAGR of 16.1% from 2022 to 2031.

The factors such as proactive government initiatives for smart cities, rise in venture capital and strategic investments, and adoption of e-bikes in the sharing fleet supplement the growth of the mobility on demand market. However, low rate of internet penetration in developing regions and resistance from local transport services, coupled with varying government regulations in different countries are the factors expected to hamper the growth of the market. In addition, emergence of eco-friendly electric cab services and adoption of car rental management software creates market opportunities for the key players operating in the mobility on demand market.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The global mobility on demand market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2021, accounting for nearly two-fifths of the market. However, the market across LAMEA is expected to register the highest CAGR of 15.1% from 2022 to 2031.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/3123

In addition, the mobility on demand market has witnessed significant growth in recent years, owing to the emergence of technologies such as Mobility-as-a-Service (MaaS), electric vehicles, and autonomous cars. Also, shifting consumer preferences from car ownership to flexible & affordable transportation solutions is propelling the adoption of car-sharing services in the market. Furthermore, the companies operating in the market have adopted partnerships, acquisitions, and product launches to increase their market share and expand their geographical presence.

Based on propulsion type, the ICE segment held the largest share in 2021, accounting for nearly four-fifths of the market, and is expected to continue its dominance during the forecast period. However, the electric and others segment is expected to register the highest CAGR of 14.7% during the forecast period.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By type, the renting segment dominated the global mobility on demand market in terms of growth rate.

By vehicle type, the two-wheelers segment dominated the global mobility on demand market in terms of growth rate.

By propulsion type, the electric and others segment dominated the global mobility on demand market in terms of growth rate.

By booking type, the online segment dominated the global mobility on demand market in terms of growth rate.

By commute type, the intracity segment dominated the global mobility on demand market in terms of growth rate.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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David Correa
Allied Market Research
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