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A10179 | Pages: 315 | Charts: 67 | Tables: 193 |
Shared mobility refers to the shared use of a vehicle, motorcycle, scooter, or other mode of transportation for accessing transportation service on an as-needed basis. The fundamental idea of shared mobility market is the use of same vehicle by several occupants. It includes public transit; micromobility (bike sharing, scooter sharing); automobile-based modes (car sharing, rides on demand, and microtransit) and commute-based modes or ridesharing (carpooling and vanpooling). Moreover, it has several benefits such as efficient travel, reduction in transportation costs, reduced fuel consumption, improves traffic conditions, and reduced emissions of greenhouse gases.
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The growth of the global shared mobility market is propelling, due to rise in venture capital and strategic investments, government initiatives for smart cities, and increase in inclusion of e-bikes in the sharing fleet. However, low rate of internet penetration in developing regions is the factor hampering the growth of the market. Furthermore, increase in government initiatives for the development of bike sharing infrastructure is the factor expected to offer growth opportunities during the forecast period.
The shared mobility market is segmented on the basis of service model, vehicle type, vehicle propulsion, sales channel, and region. By service model, it is segmented into bike sharing, car sharing, public transit, and microtransit. By vehicle type, it is classified into two-wheelers, passenger cars, buses & rails, and others. By vehicle propulsion, it is fragmented into IC engine, electric & hybrid vehicles, and others. By sales channel, it is categorized into offline and online. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some leading companies profiled in the shared mobility market report comprises ANI Technologies Pvt. Ltd., Autocrypt Co., Ltd., BlaBlaCar, Blu-Smart Mobility Pvt. Ltd., Bolt Technology OU, Cabify Espana S.L.U., DiDi Global Inc., EasyMile, Free2move, Getaround, Inc., Lyft, Inc., Meru Mobility Tech Pvt. Ltd, Uber Technologies, Inc., Yandex N.V., and Zoomcar India Pvt. Ltd.
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Rise in venture capital and strategic investments
The significant rise in the preference of car pool and bike pool services among regular office commuters is the primary factor contributing toward the growth of the ride hailing and ride sharing services. In addition, increase in services offered by the leading shared mobility market industry players, including Uber and Ola, and the option to choose convenient pick-up and drop locations are encouraging consumers to opt for ride hailing and ride sharing services. Moreover, significant rise in the number of multiple ride-hailing and ride-sharing services such as bike sharing and auto sharing service, even for short distance travel fuels the growth of the shared mobility market. Furthermore, ride sharing service providers are offering advantages such as affordable doorstep pick-up and drop, co-passenger information, and higher convenience as compared to the traditional transport service providers. This is expected to propel the demand for ride share services. In addition, several service providers offer various facilities, offers and discounts such as monthly pass on shared ride, to reduce the expenses of daily commuters.
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Government initiatives for smart cities
Several government initiatives have been made for implementing the concept of shared mobility across the globe. This has led to the growth of the global shared mobility market. For instance, in 2019, in Japan, the Ministry of Economy, Trade, and Industry (MEIT) and the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) jointly created the smart mobility challenge subsidy program, thereby generating revenue of $27.6 million for the smart mobility challenge subsidy program. Similar investments and subsidy programs have been implemented by different governments across the globe, which also led to the growth of the global shared mobility market.
[REGIONGRAPH]
The shared mobility market is segmented into Service Model, Vehicle Type, Vehicle Propulsion and Sales Channel.
Key Market Segments
Key Market Players