The global Mobility As A Service Market size is projected to reach USD 70.6 billion by 2030, from an estimated USD 10.4 billion in 2020, at a CAGR of 31.3%.
Companies such as Uber and Lyft have seen massive ride drops due to the COVID-19 crisis. People are avoiding these services due to the rising concerns regarding the spread of the virus. Additionally, with a majority of the population working from home, the use of public transport has reduced by around 70-80% worldwide.
- In May 2020, Uber announced a lay-off of its 600 employees in India in a bid to cut costs amid the ongoing coronavirus (COVID-19) pandemic
- In May 2020, Ola announced a layoff of its 1,400 staff as its revenue fell by 95% because of the nation-wide lockdown
- In April 2020, Lyft announced it would be reducing employee count by 17%, working out to 982 employees, and furloughing an additional 288, due to the effects of the COVID-19 pandemic and its impact on Lyft’s business.
Major players in the Mobility as a service market consist of Addison Lee, BlaBla Car, Gocatch, Didi, Yandex Taxi, Uber, Lecab, Easy Taxi, Gett, Careem, Meru, 99Taxis, Grab Taxi, Kako Taxi, Lyft, Ola Cabs, Mytaxi(Hailo), Flywheel, Ingogo and Via.
Big players in the automotive and technology industries are involved in exploring the new market, either via investments (e.g. Denso, Veho, Toyota and Karsan have invested in Finnish company MaaS Global who is providing an app called Whim) and/or doing development of their own (e.g. Tesla's autonomous mobility service).The new area is growing rapidly and the market is getting bigger and bigger, especially in Europe, which has been the early pioneer of MaaS. There have been several forecasts and studies regarding the increase of the Mobility as a Service market in the future, varying from USD 106.8 billion to an over USD 1 trillion global market by 2030.
Uber and Addison Lee have offered free and discounted travel to NHS staff. But without the implementation of strict safety standards, both drivers and frontline NHS staff are being placed at unnecessary risk. This is a consideration that seems to have escaped the health secretary Matt Hancock before he rushed to publicly thank Uber for its efforts on Twitter.
Sept 2020-Uber expressed interest in a potential acquisition of Free Now after the venture’s efforts to attract additional investors struggled to gain traction amid the coronavirus pandemic, according to the people, who asked not to be identified because the information is private. Any deal could be complicated by the challenging market ride-hailing companies’ face, which could make it more difficult.
Segmentation of Mobility Of Service Market has splits into by Application Type it has been Personalized Application Services, Journey Management and Journey Planning. Based on the type, mobility as a service market has been segmented into public and private. Geographically, the Global Mobility as a Service Market has been segmented into North America, Europe, Asia-Pacific, and the rest of the World. Asia Pacific is projected to be the largest market by 2030. A high population growth rate in the region, as well as the increasing urbanization, has intensified the need for efficient transportation. Developing countries in Asia Oceania are expected to experience significant growth in urban transportation with many countries in the region shifting their focus toward smart personal mobility to reduce travel time and congestion.