GLOBAL SHARED MOBILITY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The shared mobility market is estimated to be valued at US$ 318.32 billion in 2024 and is expected to reach US$ 732.20 billion by 2031, growing at a compound annual growth rate (CAGR) of 12.6% from 2024 to 2031. The increasing preference for carpooling and ride-sharing services over private vehicle ownership, especially among the millennial population is driving the growth of this market.
Report Description:
Shared mobility is the shared use of a vehicle, bicycle, or other transportation modes. It includes carsharing, ride-sharing, bike sharing, scooter sharing, and other modes of transportation that are shared among users, either concurrently or one after another. Shared mobility helps reduce transportation costs, congestion, and emissions. It offers an alternative to personal car ownership and gives people access to transportation without having to bear the expenses of asset ownership. For people who cannot drive or do not own a vehicle, shared mobility helps meet mobility needs more conveniently than other options.
Market Dynamics:
The shared mobility market is driven by factors such as increasing costs of vehicle ownership, rising gasoline prices, environmental concerns over vehicle emissions, and traffic congestion. Stringent emission norms for vehicles and growing awareness about sustainability are pushing people away from personal vehicle ownership towards shared mobility options. The rising demand for flexible mobility on-demand without commitment to own an asset long-term is boosting the market opportunity for shared mobility services. However, lack of seamless integration between various public and private transportation modes poses a challenge for the wider adoption of shared mobility. Also, unclear regulations and policies regarding new mobility business models restrain the market growth. Advancements in connectivity and automation as well as the growing adoption of Mobility as a Service (MaaS) are expected to present significant opportunities for players in the shared mobility market.
Key Features of the Study:
- This report provides an in-depth analysis of the global shared mobility market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global shared mobility market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Uber Technologies Inc., Lyft Inc., Didi Chuxing Technology Co., Grab Holdings Limited, Ola , BlaBlaCar, Lime, Bird Rides, Inc., TIER Mobility, Mobike , Spin , JUMP Bikes , Yulu, Zipcar , Citymapper, Blu-Smart Mobility Pvt. Ltd., Bolt Technology, Autocrypt Co., Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global shared mobility market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Market Segmentation
Market Segmentation
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