Mobility on Demand Market overview

Mobility on Demand (MOD) refers to a transportation concept that provides individuals with access to a variety of transportation modes and services 1, such as public transit, ride-hailing services, bike-sharing systems, and car-sharing services through a single platform or service. The purpose of MOD is to provide travelers with safe, efficient, and affordable transportation options that can be tailored to their specific needs and preferences. The U.S. Department of Transportation (DOT) has a MOD program to promote research and development in this field. Many cities have also implemented their own MOD services, such as Pinellas Suncoast Transit Authority's Mobility on Demand in Pinellas County , Florida, which provides on-demand transportation services for people with disabilities.

By the end of 2030, Mobility on Demand Market on demand is predicted to expand to USD 230 billion. The increase must occur at a projected CAGR of 11%.

Mobile on-demand is an innovative approach and a user-focused system that controls the increasing mobility services of automobiles. These are placed on vehicles to provide network and operation to the vehicles. It offers connected travelers real-time data and a cooperative intelligent transportation system. The increased elderly person population and growing urbanization in several regions are making people shift to travelers with current trends stressing the need for alternative transportation forms, increasing the demand for personal choice in mobility. The developing requirement for individual mobility due to the rising urbanization and reduction in auto control is expected to boost the growth of this technology, which will directly drive the mobility-on-demand market globally. The main reasons that lift the market growth of worldwide mobile on-demand are the development healthcare sector due to the increasing geriatric population.

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The growing knee problems among people is propelling the market growth. Mobility on demand is also called services in automobiles; it helps consumers access services, goods, and mobility on time. It provides consumers with stacks and racks of light electric vehicles in closed places. The Mobility on Demand Market is expected to register USD 186 billion by 2023 and a CAGR rate of 18%. The increasing need for speed data connectivity and advancement in mobiles is the key reason for the market growth. Due to COVID, 19 industries faced a lot, and the market even faced more problems due to lockdown. The outbreak also impacted the market, but with the improvement in time, the demand for the industry will rise with time. The car booking services and government incentives are boosting the market's market growth. The absence of core business models in tier II cities will hamper the market in the future. The unavailability of the robust technical and transportation infrastructure also restrains the Mobility on Demand Market.

Key Players:

The leading players that are profiled by MRFR in the report on the global mobility demand market are Uber Technologies Inc. (U.S.), Delphi Automotive Plc (U.K.), Denso Corporation (Japan), Intel Corporation (U.S.), Tomtom NV (Netherlands), Robert Bosch Gmbh (Germany), International Business Machines Corp. (U.S.), Didi Chuxing (China), Gett, Inc. (U.S.), Lyft (U.S.), and others.

Market segmentation

The Mobility on Demand Market is segmented into service, vehicle type, and vehicle connectivity. Based on the Service, the market is categorized into E-hailing, car rental, car sharing and station-based mobility. The market By Vehicle Type is fragmented into Micro Mobility Vehicles and four-wheelers. By Data Service, the market is bifurcated into Information, Payment and Others.

Regional analysis

The Mobility on Demand Market is studied in North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Among all the regions, North America is expected to dominate the market and hold the largest market share in the forecast period. The factors due to which the market is registering growth are the increasing adoption of e-hailing services and also the BYOD in the region. The Asia Pacific also holds a large market growth due to the growing demand for advanced IT infrastructure and the increasing population in urban areas. The market will have substantial growth in the future.

Industry news

Essex County Council is launching a digital demand responsive transport service to allow users to plan shared transport journeys with real-time arrival information, which can be booked via the TravelEssex app.

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