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WASHINGTON, March 17, 2023 (GLOBE NEWSWIRE) — Global Shared Mobility Market will be valued at USD 169.5 Billion in 2022. It is projected to reach a value of USD 493.6 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 16.5% over the forecast period 2022-2028.
Market Overview
Peer-to-peer automobile sharing, shared electric scooters, and other new modes and services have all arisen. Their potential for integration, automated operations, customized travel on demand, and eco-friendliness have all been cited as reasons for their development. One of the main factors influencing the Shared Mobility market is the increased adoption of linked vehicles and smartphones. It is anticipated that in the upcoming years, the cost of fuel and road vehicles will rise while parking will decrease, particularly in industrialized nations worldwide.
We forecast that sales of the car category in the Shared Mobility market will account for more than 83.7% of total sales by 2030. It is due to the enjoyable driving experience and lucrative amenities included in the passenger cars. Additionally, introducing new services by ride-hailing companies is anticipated to spur market expansion. For instance, Rapido, India’s largest bike taxi platform, announced the addition of Bengaluru to its auto service, bringing the number of Indian cities served by the service to 26. These services are intended to offer people access to more economical and safe means of commuting and additional ways for auto drivers to make money.
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Market Dynamics
Increase in demand for carpooling and e-hailing services to boost the market
With smartphone applications, carpooling and e-hailing services offer a platform to reserve a transportation service, such as automobiles, motorcycles, scooters, or buses. Private vehicles reserved through these platforms provide…
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