Tractica, a market intelligence firm that focuses on emerging technologies, sought to answer seven questions dealerships and other parts of the automotive industry might have as Mobility as a Service (MaaS) programs gain momentum.
A new report from Tractica released on Wednesday indicated that MaaS is providing greater accessibility at similar or lower cost to owning a vehicle, empowering people to give up or delay vehicle purchases and rely on shared vehicles for their commute and leisure travel needs.
The firm acknowledged the global population is moving into and near cities, with the majority of people now living in urban areas. This closer proximity between where people live, work and play is putting a strain on transportation infrastructure and transit systems, according to Tractica, which considered seven questions:
— How will MaaS programs compete with and complement each other to provide a full suite of mobility service options?
— What regional differences have created varying demand for MaaS around the world?
— How will market maturity affect demand for emerging electric two-wheel shared vehicles?
— How has the regulatory environment reacted to the mostly unfettered entrance of MaaS within the urban core?
— What decisions will MaaS operators have to make to reach profitability?
— How will the trends in personal vehicle ownership affect demand for MaaS?
— What are the limits to growth for each MaaS category?
“A metropolitan area with a coordinated set of transit options and MaaS has the potential to alleviate traffic congestion, reduce traffic accidents and fatalities, enhance accessibility, lower carbon emissions and provide an improved experience for pedestrians and cyclists,” Tractica senior analyst John Gartner said in a news release promoting the report.
Tractica went on to note that applications that can enable travelers to compare these services from their mobile phones, such as Trafi or UbiGo, will be of growing importance in enabling consumers to rely on MaaS. Tractica expects the global market for MaaS to grow at a compound annual growth rate (CAGR) of 24.0% to become a $563.3 billion market by 2025.
Tractica’s report, Mobility as a Service, highlights how MaaS programs such as carsharing and ride-hailing are reaching maturity in their breadth of offerings and business models while two-wheel vehicle sharing and vehicle subscription services are still in their infancy.
The report contrasts the competitive advantages and limitations of each MaaS category and highlights the major regional and global players.
Tractica said its report also provides global and regional 2019-2025 revenue forecasts for ride-hailing, carsharing, vehicle subscriptions and shared e-scooters and e-bikes.
The complete report can be purchased on this website.