The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, June 21, 2023 /PRNewswire/ — As per The Business Research Company’s Shared Mobility Global Market Report 2023, the global shared mobility market size will grow from $271.9 billion in 2022 to $309.2 billion in 2023 at a compound annual growth rate (CAGR) of more than 13%. The shared mobility market size is then expected to grow to $495.7 billion in 2027 at a CAGR of more than 12%.
The rise in demand for ride hailing and ride sharing services will fuel the growth of the shared mobility market in the forecast period. Increasing urban population growth and increased traffic congestion are driving the demand for both ride-hailing services ride sharing services. For example, according to McKinsey, a US-based management consulting firm, by 2030, total revenues from hailed mobility could increase to between $450 billion and $860 billion, accounting for 80% to 90% of consumer spending in shared mobility. Therefore, an increase in demand for ride hailing and ride sharing services will drive the demand for shared mobility market growth in the forecast period.
Learn More On The Shared Mobility Market Report – https://www.thebusinessresearchcompany.com/report/shared-mobility-global-market-report
Shared mobility providers are focusing on innovative vehicle fleet-sharing platforms to strengthen and enhance their service offerings. A vehicle fleet-sharing platform makes it possible for companies that offer shared mobility services, such as ridesharing, and vehicle sharing, to keep an eye on the availability, security, mechanical condition, and whereabouts of their vehicles. For instance, in June 2020, Wunder Mobility, a Germany-based software and hardware provider for vehicle sharing, launched the Wunder Vehicles fleet-sharing platform. Wunder Mobility’s official entry into the vehicle industry and transformation from a pure software firm to a mobility company was marked with the debut of Wunder Vehicles. The Wunder Vehicles offering is intended to offer the resources needed to create a turnkey fleet-sharing business without requiring users to interact with numerous businesses and organizations to do the same.
In addition, strategic partnerships and collaborations are gaining attraction in the shared mobility market. Companies in the shared mobility market are focusing on partnerships and collaborations to expand their service offerings and geographic presence. For example, in July 2022, Moove, a Nigeria-based company that provides revenue-based vehicle financing and financial services, partnered with Uber, a US-based company that provides mobility as a service for ride-hailing, food delivery, or for package delivery or couriers. With this partnership, both companies launched a mega fleet for ride-hailing in India. With the launch, Moove will have the ideal opportunity to help thousands of drivers increase their productivity and expand business opportunities by giving them easy access to funding.
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The global shared mobility market is segmented –
1) By Service: Ride Hailing, Bike Sharing, Ride Sharing, Car Sharing, Other Services
2) By Mobility Vehicle: Cars, Two-wheelers, Others Mobility Vehicles
3) By Business Model: P2P, B2B, B2C
As per shared mobility market analysis, the top growth potential in the shared mobility market by service will arise in the ride hailing market, which will gain $102.5 billion of global annual sales by 2027.
The Business Research Company recommends companies in the shared mobility market to focus on market-trend-based strategies such as adoption of autonomous vehicle technology, technology advancements, upgrading of mobility sharing apps, and strategic partnerships and collaborations.
View More Similar Market Reports:
Ride Hailing Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/ride-hailing-global-market-report
Ride Sharing Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/ride-sharing-global-market-report
Shared Vehicles Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/shared-vehicles-global-market-report
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