Mobility on Demand Market Industry Share, Growth, Analysis, Statistics, Trends, Forecast Report, 2024

<strong>Mobility</strong> on Demand Market Analysis Report, Share, Growth,
Trend, and Forecast, 2024: Global Market Insights Inc.
<strong>Mobility</strong> on Demand Market size is anticipated to grow extensively during the forecast
period. <strong>Mobility</strong> on demand is an innovative and user-focused approach instrumental
in leveraging emerging mobility services.
The integration of transit networks & operations, real-time data, and cooperative
Intelligent Transportation Systems (ITS) allow for a more traveler-centric,
transportation structure, providing improved mobility options to all users in an efficient
and safe manner. Travel and mobility demands have evolved from private automobile
ownership to more flexible, public, and private options, which incorporate shared-use
and multimodal integration. MOD market also provides a safer option to commute as
collision avoidance is enforced by monitoring the vehicle speed and route.
Growing working population in urban locations has increased the need for time reliable
solutions owing to the enhanced personal mobility and economic gains including
reduced costs. In the present-day scenario, there is a growing necessity of energyefficient
and green eco-friendly technologies to improve environmental conditions,
creating demand for mobility on demand market. Usage of fuel-efficient vehicles,
getting the appropriate-sized automobiles to suit customers’ requirements, and
increased vehicle occupancy through ride sharing reduce greenhouse gas emissions,
thereby positively impacting the environment. Shared vehicles in place of driving a
personal vehicle could also contribute to lower congestion that proves to be a positive
key indicator for the overall MOD market growth.
Technological advancements and a fast-emerging trend of Internet of Things (IoT) in
recent years have enabled customers to interact with other platforms to hire or share
their mode of transportations. Along with the traditional transportation options, these
new trends provide opportunities to create an integrated system of mobility options in
the MOD market. They are centered on meeting the needs of a varied cross-section
of users while enhancing the customer safety. <strong>Mobility</strong> on demand provides time and
cost-efficiency, comfort, and offer platforms that are efficiently conserving energy.
A rise in the number of connected vehicles and stringent regulations monitoring CO2
emissions across the globe are favoring the market development. The reduction in
vehicle ownership among millennials and a growing need for personal mobility due to
rapid urbanization are primary factors driving the MOD market. The geriatric
population has been on a rise due to advancements in the healthcare and there is a
growing need for the availability of suitable transportation facilities to enable mobility
among them. Additionally, ground-breaking developments of autonomous and semi-
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autonomous vehicles are expected to change the mobility on demand market
landscape as the need for drivers would have vanished. Fully automated vehicles have
shown promise to revolutionize such transportation systems. The growth in the userbase
for ride-sharing and public-private partnerships provide abundant opportunities
facilitating the growth of the MOD market.
However, MOD market need further development alongside existing services in an
integrated fashion to foster a smooth and connected transport system. The presentday
transport system needs to be flexible and efficient.
The high cost of infrastructure development, is a key factor restraining the growth of
the MOD market. There is a restraint due to low internet penetration in developing
regions. Although the government-provided incentives are in favor of the industry,
regulatory policies continue to remain stringent and abstruse, further hindering the
industry growth. Resistance from traditional taxi services and continued consumer
usage of local transportation services due to lack of trust in the mobility on demand
market and its services may prove to be a challenge. Reliance on cloud computing
also places the risk of privacy and data security as information about users and drivers
are readily available on the app.
Based on the type, MOD market includes E-hailing, car sharing, car rental, and stationbased
services. The e-hailing service segment is anticipated to display the maximum
growth as it offers first and last mile connectivity to passengers. It makes use of GPS
to reduce the taxi waiting time and are predominant in urban parts. Consumers have
shown an inclination towards app-based e-hailing services owing to its focus on better
customer service, innovative pricing system, and user-friendliness. The integration of
traditional car rental model with car-sharing technology will open up new business
opportunities for smaller car rental operators MOD market without the need of having
to start a separate car-sharing company.
With respect to segmentation based on the vehicle type in the MOD market, electric
vehicles are rapidly gaining popularity and are soon expected to compete with IC
engine vehicles, which are currently dominating the mobility on demand market. Based
on data services, it includes navigation, information, and payment. The navigation
service segment has the most significant demand. Payment service market is
predicted to grow significantly in the MOD market over the forecast period. Service
providers in this industry make use of payment gateways for online payment
processing. Payments in foreign currency and international expansion by MOD service
providers will increase the growth of the payment services. Navigation service is
predicted to be a major shareholder in the industry demand over the future as both
drivers and passengers use it. MOD segmentation by Internet and vehicle connectivity
comprise 3G, 4G, Wi-Fi, and V2V, V2P, V2I, and V2N.
Asia Pacific region, which contains numerous emerging economies with massive
population bases; for instance, China and India are the most lucrative areas in the
MOD market. Various app-based car sharing and taxi services have proliferated the
region. Station-based mobility, government incentives, and an increase in supporting
infrastructure will also aid the growth in the Asia Pacific market. Factors, such as rising
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traffic congestion and increasing urbanization, will drive the industry demand. Some
of the companies operating in the mobility on demand market are RideScout, Uber,
Delphi Automotive, Denso Corporation, TomTom NV, and Intel Corporation."
The <strong>Mobility</strong> on Demand market Report Consists of,
1. Methodology and Scope
2. Executive Summary
3 <strong>Mobility</strong> on Demand Industry Insights
3.1 Industry segmentation
3.2. Industry size, forecast and growth expectations, 2012 - 2023
3.3. Industry ecosystem analysis 3.4. Raw material insights
3.5. Technology insights
3.6. Regulatory framework
3.7. Industry dynamics
3.8. Key growth opportunities
3.9. Porter's analysis
3.10. Company market share, 2015
3.11. PESTEL analysis
3.14. Regional price trends
4. <strong>Mobility</strong> on Demand Product Insights
5. <strong>Mobility</strong> on Demand Application Insights
6. <strong>Mobility</strong> on Demand Regional Insights
7. Competitor Profiles
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