Shared Mobility Telematics Market To Be Dominated By Passenger Car Demand
Increasing demand for cab
sharing services support Global Shared Mobility Telematics Market growth in the
upcoming five years.
According to TechSci Research
report, “Shared Mobility
Telematics Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2017-2027” Global shared mobility
telematics market is anticipated to hold an impressive CAGR for the future
growth during the forecast years, on the account of growing demand for the car-pool
and car sharing services. Factors like rapid urbanization, expanding automotive
industry, growing vehicle fleets, and various environmental issues drive the
growth of the global shared mobility telematics market in the upcoming five
years. Rising concerns for the depleting environmental conditions have led the
consumers to opt for car sharing and car pooling services. Due to the harmful
effects of the toxic exhaust out of the cars that have increased in the recent
years, and increasing vehicle fleet, growing demands for the personal vehicles,
rising population add to the increasing environmental degradation, thereby alerting
the authorities. Government have made stringent regulations toward consumption
of fuel and exhaustive gases emitting from the automobiles. These factors are
further aiding to the growth of the global shared mobility telematics market in
the future five years.
Due to the COVID-19 pandemic,
the shared mobility industry suffered drastically. Although various other
industries were affected, automotive industry suffered the restrictions and
regulations against COVID. Threat of the viral spread put lives at halt and
with the complete lockdown, the cab sharing, car-pooling, ride to hire were all
stopped abruptly. As much as the market players were affected, financial crisis
was faced by the common vehicle drivers who had consistent income through these
services. With the relaxation in the rules and regulations, the industry is
soon anticipated to regain its composure. With the effective precautionary
steps, the shared
mobility
services are back on road and the consumers have resumed the usage, thus
substantiating the growth of the global shared mobility telematics market in
the forecast years through 2027.
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The global shared mobility
telematics market segmentation is based on service type, vehicle type,
offering, technology, regional distribution, and competitive landscape. Based
on service type, the market is further segmented into ride hailing, car/two-wheeler
sharing, rental, and ride sharing. Ride hailing segment may hold the largest
revenue shares of the market and dominate the market segment in the upcoming
five years on the grounds of rising demand from the younger population using it
for regular commutes for work as well as pleasure. Ride sharing may also gain
significant growth in the revenue shares as government’s attempt to control the
environmental depletion crisis. Rising emphasis on ride sharing methods to
decrease the number of on road cars and decrease the pollution further supports
the segmental growth thereby aiding the growth of the global shared mobility
telematics market in the next five years.
By vehicle type, the market
is differentiated between passenger car and two-wheeler. Passenger cars are
anticipated to hold the largest revenue shares of the market and dominate the
market segment in the upcoming five years on the grounds of high passenger cars
sales in the recent years. Overcoming the recent restrictions on distribution
channels and higher demands for the premium passenger cars also drive the
growth of the market. Moreover, demands for the executive as well as premium
cab hailing services further substantiate the growth of the global shared
mobility telematics market in the next five years.
Based on offering, the market
is fragmented into global positioning system (GPS), fleet optimization, vehicle
tracking, and others. By technology, the market is bifurcated into embedded,
tethered, and integrated. The market analysis also studies the regional
segmentation, divided among Asia-Pacific region, North American region,
European & CIS region, South American region, and Middle East & African
region.
Some of the market players,
dominating the global shared mobility telematics market are
·
SharingOS
Holdings Limited
·
e-motionlabs
NV
·
Fleetster
·
Avis
Budget Group (FastFleet and Local Motion)
·
INVERS
GmbH
·
PBSC
Urban Solutions Inc.
·
Geotab
Inc.
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“North America is anticipated
to hold the largest market for the shared mobility telematics in the future
years owing to the increasing advancement in the technology and growing car
sharing service demands. The economies like the United States and Canada with
higher instances of n road traffic are expected to support the regional growth
in the future five years. Asia Pacific region may also hold significant growth
due to rising population in the countries like India, China, etc. Rising
disposable income among the population and their tendencies to avail the cab
renting services also facilitates the market growth in the upcoming five years,”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Shared Mobility
Telematics Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2017-2027 Segmented By Service Type (Ride Hailing, Car/Two-Wheeler
Sharing, Rental, Ride Sharing), By Vehicle Type (Passenger Car, Two-Wheeler),
By Offering (Global Positioning System (GPS), Fleet Optimization, Vehicle
Tracking, Others), By Technology (Embedded, Tethered, Integrated), By Region”, has evaluated the future
growth potential of global shared mobility telematics and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global shared mobility telematics market.
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