Shared Mobility Market

Global Shared Mobility Market

As stated in our extensive report; the Global Shared Mobility Market accounted for {{Revenue_2021}} in the year 2022.

A burgeoning industry called Shared Mobility allows users to share transportation resources and services simultaneously or sequentially. Shared Mobility is not only affordable and ecologically friendly, but it is also practical. As a result, vehicle ownership will only be partially replaced by Shared Mobility. In areas with lower population densities, there has been an increase in customer desire for self-driving taxis and shuttles. In addition, peer-to-peer car sharing shared electric scooters, and other new modes and services have appeared. Their potential for integration, automated operations, personalized travel on demand, and eco-friendliness have all been cited as reasons for this development. One of the main elements influencing the market for Shared Mobility is the increased penetration of connected vehicles and smartphones. In the upcoming years, market development is anticipated to be aided by rising fuel and vehicle prices and a decline in parking, particularly in developed nations worldwide. In addition, compared to other forms of transportation, Shared Mobility options are less costly and solve some parking issues. Many governments around the globe are starting programs to encourage the expansion of these congestion-reduction strategies. This significantly affects commuters’ lifestyles and the market as a whole, leading to better accessibility, less driving, and fewer people owning their cars.

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Factors Influencing Global Shared Mobility Market Growth

The growth of the global Shared Mobility market can be attributable to the following:

1. The convenience of Shared Mobility is driving the industry. During the forecast period, increasing the use of Shared Mobility in the peer-to-peer vehicle-sharing segment will drive the overall market.
2. The development of the Shared Mobility market has been sparked by rising internet penetration and rising investment in Shared Mobility companies.
3. Increasing road traffic congestion, a lack of parking spaces, high fuel prices, and the high cost of owning a personal vehicle are the reasons anticipated to support market expansion.
4. Government efforts to encourage commuters to use Shared Mobility services are the most significant growth driver for the Shared Mobility market.
5. The segment is anticipated to have tremendous growth possibilities as technologically sophisticated autonomous ride-sharing becomes more widely available.

On the other hand, it is anticipated that the need for knowledge about Shared Mobility services and the poor internet connectivity in some underdeveloped areas will impede market expansion.

Asia Pacific Region to Take Over the Market

Regarding market share for Shared Mobility globally in 2021, Asia Pacific is expected to hold the most significant proportion geographically. This enormous industry share can be ascribed to the rising demand for Shared Mobility services due to the increased road traffic and the high ownership costs in emerging nations like China and India, among others. Additionally, the market is growing due to the populace in emerging countries’ rising living standards and rapid urbanization.

Conclusion

Rising car ownership costs and expanding internet use positively affect the Shared Mobility market.

The well-known players of the Global Shared Mobility Market include Car2Go (U.S.), Deutsche Bahn Connect GmbH (Germany), DiDi Chuxing (China), Drive Now (BMW) (Germany), EVCARD (China), Flinkster (Germany), Grab (Singapore), GreenGo (Italy), Lyft (U.S.) and others.