Shared Mobility Market by Type (Ride-sharing, Vehicle Rental/Leasing, Ride Sourcing, Private); by Vehicle Type (Passengers Cars, LCVs, Buses & Coaches, Micro Mobility); by Business Model (Peer to Peer (P2P), Business to Business (B2B), Business to Consumer (B2C)); and by Region (North America, Europe, Asia Pacific, Latin America, MEA) - Global Forecasts 2021 to 2027

Date : Sep 2021

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Report ID : 775

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Category : Automotives & Transportation

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Report Format:  PDF EXCEL PPT WORD

The Global Shared Mobility Market was valued at USD 410.5 Billion in 2020 and is expected to reach USD 681 Billion by 2027, with a growing CAGR of 7.5% during the forecast period.

Shared Mobility Market Overview:

Shared mobility is a commuting service used to share transportation offerings with different commuters. In shared mobility service, commercial automobile owner shares their automobile to a corporation which then offers those automobiles for ride-sharing, hiring & mobility services, and pricing is completely depending on ride distance & ride duration. This consists of public transit; micro-mobility (bike-sharing, scooter sharing); automobile-based modes (carsharing, rides on-demand, and micro transit); and commute-based modes or ridesharing (carpooling and vanpooling).

Shared Mobility Market

Shared Mobility Market Dynamics:

The rise in concerns related to the environment and cost-effective methods of transportation is one of the major factors that propel the growth of the shared mobility market during the forecast period. Customers are shifting to economical and luxurious measures of traveling over private driving preference. Moreover, consumers formerly renting a private driver for their automobile because of its cost-effectiveness have shifted maximum in their alternatives to travel via shared transportation. Therefore, these measures are anticipated to fuel the shared mobility market growth during the forecast period.

In addition, governments of each country are worried about the increase in population, which results in dangerous consequences on the environment. Governments inspire people to restrain themselves from the use of automobiles as much as they can. Furthermore, sharing rides amongst families and friends is one of the key thoughts from the government to inspire individuals to choose shared-ride rather than private ride, that is predicted to boost the growth of the global shared mobility market.

The Global Shared Mobility Market Segmentation:

By Type

  • Ride-sharing
  • Vehicle Rental/Leasing
  • Ride Sourcing
  • Private

By Vehicle Type

  • Passengers Cars
  • LCVs
  • Buses & Coaches
  • Micro Mobility

By Business Model

  • Peer-to-Peer (P2P)
  • Business to Business (B2B)
  • Business to Consumer (B2C)

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Shared Mobility Market Company Profiles and Competitive Intelligence:

  • Avis Budget Group
  • car2go NA, LLC
  • Mobiag
  • movmi
  • Grab
  • Uber Technologies Inc.
  • ANI Technologies Pvt. Ltd.
  • Lyft, Inc.
  • Careem
  • Bolt Technology OÜ
  • Gett
  • Hertz Systems
  • Aptiv
  • Enterprise Holdings Inc.
  • MOBIKO
  • Europcar
  • Curb Mobility
  • BlaBlaCar
  • Wingz

Based on the type, the vehicle rental/leasing segment in the shared mobility market accounted for the largest revenue share in 2020 and is expected to grow at a constant rate during the forecast period owing to the low payment cost of the vehicles

Based on the type, the shared mobility market has been segmented into ride-sharing, vehicle rental/leasing, ride sourcing, and private. The rental/leasing segment in the shared mobility market accounted for the largest revenue share and is expected to grow at a constant rate during the forecast period. The growth in the segment is attributed to the low payment cost of the vehicles as well as maintenance benefits to the consumer. However, the ridesharing segment in the shared mobility market is growing at the highest CAGR during the forecast period due to the cost-effective and elegant modes of transportation over personal driving preferences.

Based on vehicle type, the passenger cars in the shared mobility market are accounted to capture the largest market share in 2020 and is expected to grow at the fast-paced during the forecast period owing to the increasing penetration of the internet across the globe

Based on vehicle type, the global shared mobility market has been segmented into passenger cars, LCVs, Buses & Coaches, and micro mobility. The passenger cars segment in the shared mobility market accounted for the largest market share in 2020 and is expected to grow at the fast-paced during the forecast period. The growth in the segment is attributed to the increasing penetration of the internet across the globe and the launch of new services by ride-hailing providers.

Based on the business model, the Peer-to-Peer (P2P) in the shared mobility market is the leading segment and is expected to remain constant during the forecast period due to the increasing use of vehicles for rental and leasing services

Based on the business model, the shared mobility market is segmented into Peer-to-Peer (P2P), Business to Business (B2B), and Business to Consumer (B2C). The Peer-to-Peer in the shared mobility market is the leading segment and is expected to remain constant during the forecast period. The growth in the segment is attributed to the increasing use of automobiles for rental and leasing services.

Based on region, Asia Pacific is expected to dominate the shared mobility market during the forecast period owing to the increase in on-road traffic vehicles

Based on region, the global shared mobility market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific is expected to dominate the shared mobility market during the forecast period. The growth in the region is attributed to the increase in on-road vehicles as well as the rise in the cost of vehicle ownership especially in the countries like China, and India. For instance, according to secondary sources, in 2020, around 32 million passenger cars were sold within the Asia Pacific region, of which 20.18 million were sold in China alone. Moreover, the increasing population, rising urbanization, and shifting consumer preference to alternative solutions are significant factors for the growth of the shared mobility market in the region.

The report also provides an in-depth analysis of shared mobility market dynamics such as drivers, restraints, opportunities, and challenges:

Drivers

  • The increasing automotive sales
  • Increasing penetration of connected vehicles and smartphones
  • Rising on-road vehicle traffic
  • Rising fuel prices
  • The increasing cost of vehicle ownership

Restraints

  • The lack of preference in travelling with strange individuals while sharing transportation
  • Increasing concern related to the theft of private information

Opportunities

  • The growth in the number of passenger cars is a major trend that supports shared mobility services offered by buses and coaches

Challenges

  • Understanding insurance issues of regulation, availability, and affordability across a wide array of existing and emerging shared business and service models

COVID-19 Impact on the Shared Mobility Market Analysis:

The COVID-19 pandemic has impacted many lives as well as businesses, with almost every sector suffering due to the pandemic. The most immediate and visible impact of COVID-19 in the conventional automotive sector is the standstill of many OEMs production, which has affected the shared mobility market growth. Moreover, public-transit ridership has fallen to miles large volume throughout the globe, and the operators are stressed with uncertainty and the ability need to put into effect strict protocols. However, the governments have released initiatives to help mobility startups that had been hit hard through the crisis, however, low cash reserves and shortage of capital in the shared mobility market are predicted to affect the shared mobility market.

*Note: A detailed analysis specific to the shared mobility market will be provided in the report

The report also provides an in-depth analysis of key trends in the shared mobility market:

  • The shifted consumer preferences away from car ownership toward alternative forms of transportation
  • The government regulation will fuel Electric Vehicle (EV) innovation

The report also provides an in-depth analysis of recent news developments and investments:

  • In December 2019, Avis Budget Group, in partnership with Verizon and Edison Interactive, introduced the release of a brand new all-in-one virtual journey assistant completely available to Avis, Budget, and Payless Car Rental customers. Business and leisure travelers can now hire Samsung tablets powered through Verizon – the nation’s largest, most reliable 4G LTE network – to stay linked on the go.
  • In June 2021, Hyundai Motor Group and Grab Holdings Inc. (Grab) introduced an enhancement in their ongoing strategic partnership in mobility services. The subsequent phase of the partnership will attention to accelerating EV adoption in Southeast Asia. The Group, together with Hyundai Motor Company and Kia Corporation which can be the Group’s affiliates, and Grab is similarly aimed to expand new pilots and initiatives that decrease the obstacles of entry for Grab drivers and delivery companions to undertake EVs, including reducing the whole cost of ownership and lowering range anxiety.

The unique insights provided by this report also include the following:

  • In-depth Value Chain Analysis
  • Opportunity Mapping
  • Sector Snapshot
  • Key Players Positioning Matrix
  • Regulatory Scenario
  • Strategies Adopted-benchmarking Heat Map
  • Market Trends
  • Covid-19 Impact Analysis
  • Product Comparison
  • Pre & Post COVID-19 Impact on the Shared Mobility Market
  • Competitive Landscape

Frequently Asked Questions (FAQs)

What is the market size of the global shared mobility market size?

The global shared mobility market was valued at USD 410.5 Bn in 2020 and is anticipated to reach USD 681 Bn by 2027.

What is the estimated market growth rate of the shared mobility market share?

The shared mobility market is estimated to grow at a compound annual growth rate (CAGR) of 7.5% during the forecast period.

What is the share of Asia Pacific in the shared mobility market?

The Asia Pacific dominate the shared mobility market during the forecast period.

Who are the key players in the shared mobility market?

A few key players include, but are not limited to Avis Budget Group, car2go NA, LLC, Mobiag, movmi, Grab, Uber Technologies Inc., ANI Technologies Pvt. Ltd., Lyft, Inc., Careem, and Bolt Technology OÜ.

What are the restraints for the shared mobility market?

The increasing concerns related to the theft of private information is the major restraining factor that hampers the growth of the market.

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Table of Contents Shared Mobility Market:

Shared Mobility Market Introduction

  • Definition
  • Scope Of The Study
  • List Of Assumptions
  • Market Structure
  • Scope of the Study: Segmentation 
  • Timeframe, Currency and Limitations

Shared Mobility Market Research Methodology

  • 3P Research Approach
  • Market Sizing Approach
  • Data Sources
  • Primary Research Coverage

Shared Mobility Market Executive Summary

  • Market Summary
  • Market Snapshot
  • Regional Snapshot
  • Country Snapshot

Shared Mobility Market Premium Insights

  • Key Trend Analysis
  • New revenue Pockets
  • Pain Point Analysis
  • Company Market Share Analysis, by Region
  • Strategies Adopted-Benchmarking Heat Map
  • Regulatory Landscape
  • PESTEL Analysis
  • Regional Lifecycle
  • Competitive Benchmarking

Shared Mobility Market Overview & Competitive Landscape

  • Competitive Landscape
  • Investment Scenario by key Players
  • Key Player Overview
  • Product comparison
  • Player Wise Geographic Presence
  • Player Wise Target Customer Segment
  • Recent News
    • Product Launches & upgrades
    • R&D / Innovation
    • Merger & Acquisition
    • JV & Partnership
    • Recognition and others

Shared Mobility Market Segmentation (Market Size and Share Analysis)

  • Global Market Size & Historic Growth
  • Market Size by Type
    • Ride-sharing
    • Vehicle Rental/Leasing
    • Ride Sourcing
    • Private
  • Market Size by Vehicle Type
    • Passengers Cars
    • LCVs
    • Buses & Coaches
    • Micro Mobility
  • Market Size by Business Model
    • Peer to Peer (P2P)
    • Business to Business (B2B)
    • Business to Consumer (B2C)

Shared Mobility Market Dynamics

  • Market Drivers
  • Opportunities
  • Value Chain Analysis
  • Pricing Analysis

Shared Mobility Market COVID - 19 Opportunity Mapping

  • Key Drivers & Anticipated Revival Period
  • Key Trends Analysis
  • Impact on End user Industry
  • Opportunity Analysis

Shared Mobility Market Regional Analysis

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • APAC
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Mexico
    • Brazil
    • Argentina
    • Rest of LATAM
  • Middle East & Africa
    • GCC
    • Rest of MEA

Shared Mobility Market Company Profiles

  • Avis Budget Group
    • Company Fundamentals
    • Financial Analysis (Subject to Availability)
    • Product Portfolio
    • SWOT Analysis
  • car2go NA, LLC
  • Mobiag
  • movmi
  • Grab
  • Uber Technologies Inc.
  • ANI Technologies Pvt. Ltd.
  • Lyft, Inc.
  • Careem
  • Bolt Technology OÜ
  • Gett
  • Hertz Systems
  • Aptiv
  • Enterprise Holdings Inc.
  • MOBIKO
  • Europcar
  • Curb Mobility
  • BlaBlaCar
  • Wingz

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