Asia Pacific Shared Mobility Market to Grow Due to Increasing Internet Penetration and Cost-Effective Mode of Travel
High technological
penetration, cost effectiveness and increasing use of shared mobility for daily
commute, is increasing the demand of Asia Pacific Shared Mobility Market.
According to the TechSci Research
report, "Asia Pacific Shared Mobility Market-By Country, Competition Forecast
and Opportunities, 2018-2030F",
the market is anticipated to grow with the rapid CAGR in the upcoming years.
Shared mobility refers to the
shared use of a vehicle, motorcycle, scooter, or other mode of transportation
to access transportation services on an as-needed basis. The fundamental
concept of shared mobility is the use of the same vehicle by multiple
occupants. It includes public transportation, micro mobility, automobile-based
modes, and commute-based modes or ridesharing. Furthermore, it has several
advantages, including efficient travel, lower transportation costs, lower fuel
consumption, improved traffic conditions, and lower greenhouse gas emissions.
Shared mobility is a growing industry in which customers share transportation
resources and services at the same time or sequentially. Furthermore, shared
mobility is not only cost-effective and environmentally friendly, but also
convenient.
The rise of the shared mobility sector
creates new and profitable opportunities for a variety of industries, including
automakers, parts suppliers, and technology firms. The changing lifestyle,
traditional mobility needs, and customer expectations are shifting towards
service and away from ownership. The evolving automobile ecosystem is shifting
mobility delivery towards a more user-centered paradigm. Connectivity, electric
vehicles, and other technological improvements have all contributed to rising
mobility trends such as ride sharing or hailing. People are increasingly using
alternative transportation services due to the ease and high cost associated
with them.
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Increased internet penetration and
increased investment in shared mobility enterprises have spurred market
expansion. Furthermore, increased road traffic congestion, lack of parking
spaces, high fuel prices, and the expensive cost of personal vehicle ownership
are important factors driving the rise of the shared mobility sector. The rapid
growth of the vehicle industry, development of an integrated ecosystem within
the transportation industry and government measures encouraging shared mobility
solutions to minimise traffic congestion on highways, are expected to fuel the
growth of the Asia Pacific shared mobility market.
Carzonrent, an automobile rental firm
located in India, has created Plug Mobility, an electric Mobility-as-a-Service
(MaaS) platform that provides sustainable mobility solutions for business
travel, fleet employee transfers, airport taxi, crew transfer, government, and
PSU official travel. This platform is dedicated to accelerating the transition
to electric vehicles while lowering emissions.
Asia Pacific
Shared Mobility market can be segmented based on service type, by vehicle type,
by booking type, by commute type and by region. The mobility as a service
market is divided into two segments based on service type: sharing and rental.
Because of the rising options for booking and comfort, the sharing segment held
a higher share of the mobility as a service market. The mobility as a service
market is divided into three segments based on vehicle type: two wheelers,
passenger cars, and commercial vehicles. The passenger car sector had the
biggest market share, owing to growing investment in transportation
infrastructure, which has fuelled demand for mobility services. By booking type
the market is segmented into two categories: online and offline booking. Among
them, online is having the biggest share due to the presence of mobile apps for
booking. By commute type, the market is divided into inter-city and intra-city.
In this segment, the market is dominated by intra-city because people’s
preference of using shared mobility for daily commute to their office.
Some
of the major players operating in the Saudi Arabia Shared Mobility Market
include:
- Uber Technologies Inc.
- ANI Technologies Pvt. Ltd. (Ola Cabs)
- Superhighway Labs Pvt. Ltd
(Shuttl)
- Lyft, Inc
- Europcar Mobility group
- Grab Holdings Inc
- Bolt Technology OU
- Easy Mile SAS
- Didi Chuxing Technology Co.,
Ltd.
- Zoomcar India Private limited
- Drivemate Pte Ltd.
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“Many companies are investing in the shared
mobility market companies such as Grab, Ola, and DiDi as these
companies offer viable alternatives to driving, in APAC. Asian firms are
flourishing, and multinational corporations are increasingly realizing the
value of extending their Asia Pacific operations. Moreover, the penetration of
internet, easy hassle-free booking of the vehicle and growing electric vehicle and
infrastructure connectivity are propelling the growth of Asia Pacific shared
mobility market" said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Asia Pacific Shared Mobility Market, By Battery Type (Lead- Acid,
Lithium-Ion), By Application (Construction, Warehouse, Retail & Wholesale
Store, Manufacturing), By region, Competition Forecast & Opportunities, 2018-
2030F, has evaluated the future growth potential of Asia Pacific
Shared Mobility Market 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 the Asia Pacific
Shared Mobility Market.
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