Shared Mobility Market Size, Share, Trends, Growth, and Industry Analysis, By Type (Ride Sourcing, Private, Ride-sharing, Vehicle Rental/Leasing), By Vehicle Type (Busses & Coaches, Micro Mobility, Passenger Cars, LCVs), By Business Model (Business-To-Business (B2B), Peer-To-Peer (P2P), Business-To-Consumer (B2C)) Regional Analysis and Forecast 2032.
Global Shared Mobility market is predicted to reach approximately USD 790.10 billion by 2032, at a CAGR of 14.20% from 2024 to 2032.
Shared mobility is when transportation services are shared among users with the help of technology platforms. This includes ridesharing, bike-sharing, scooter-sharing, and car-sharing. The Global Shared Mobility Market has seen a big increase in the past few years because of more people living in cities, worries about the environment, and the desire for cheaper transportation choices. The market is growing because of things like more people having smartphones and internet access, which makes it easy to book and pay for shared rides, as well as the convenience and flexibility that shared mobility options provide.
One of the main factors driving the Global Shared Mobility Market is the change in how people choose to get around, moving towards more environmentally friendly and effective forms of transportation. As people become more aware of environmental concerns, they are turning to shared mobility services instead of owning their own cars.
Shared mobility helps decrease traffic jams and carbon emissions, while also saving money for individuals. Additionally, when shared mobility services are connected with public transportation, it gives commuters more convenient and dependable ways to travel. Despite facing regulatory hurdles, concerns about data privacy and security, and competition from traditional transportation providers, the market for shared mobility is set to grow due to companies innovating and collaborating to meet the changing demands of urban mobility.
Global Shared Mobility report scope and segmentation.
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Report Attribute |
Details |
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Estimated Market Value (2023) |
USD 239.16 Billion |
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Projected Market Value (2032) |
USD 790.10 Billion |
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Base Year |
2023 |
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Forecast Years |
2024 – 2032 |
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Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Based on By Type, By Vehicle Type, By Business Model, & Region. |
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Segments Covered |
By Type, By Vehicle Type, By Business Model, & By Region. |
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Forecast Units |
Value (USD Million or Billion), and Volume (Units) |
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Quantitative Units |
Revenue in USD million/billion and CAGR from 2024 to 2032. |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
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Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others. |
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Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis. |
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Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
Global Shared Mobility dynamics
The Global Shared Mobility Market is constantly changing due to technological advancements, evolving consumer preferences, and regulatory frameworks. Innovations like mobile apps and GPS tracking have transformed how shared mobility services are used, making them more convenient and accessible. The rise of electric and autonomous vehicles is set to revolutionize the market, providing eco-friendly and efficient transportation options that help combat air pollution and traffic congestion.
Consumer preferences are pivotal in shaping the market dynamics of shared mobility. The increase in urbanization, along with the higher costs of owning a car and a heightened environmental awareness, has boosted the call for shared transportation choices. Millennials and younger individuals, specifically, are welcoming the sharing economy and placing a higher emphasis on experiences rather than ownership.
This trend is propelling the acceptance of ridesharing, bike-sharing, and other shared mobility services. Additionally, certain trends within the market have been sped up by the COVID-19 pandemic, like the need for contactless payment methods and the inclusion of hygiene and safety protocols. Regulations and policies play a significant role in shaping market dynamics, as governments take steps to encourage shared mobility while addressing issues such as safety, liability, and fair competition.
Global Shared Mobility drivers
As more people move to cities around the world, they are encountering problems like traffic jams, pollution, and poor transportation. Shared transportation services are stepping in to help with customizable, affordable, and eco-friendly travel choices. The growth of cities is leading to an increased need for shared transportation, especially in busy areas were getting around efficiently is important. Moreover, the clustering of businesses, schools, and entertainment in city centres is creating a perfect setting for shared transportation services to flourish, meeting the varied transportation needs of locals and tourists alike.
The shared mobility market is experiencing significant innovation due to rapid advancements in technology, including mobile connectivity, data analytics, and vehicle automation. Mobile applications make it simple for users to access and book shared transportation services, while GPS and real-time tracking systems streamline routing and enhance service efficiency.
The rise of electric and autonomous vehicles is transforming the shared mobility industry by providing sustainable and cost-effective alternatives to conventional transportation methods. These technological improvements improve the user experience, lower operational costs, and set the stage for the future development and expansion of shared mobility services.
Restraints:
The shared mobility market is dealing with regulatory issues regarding licensing, insurance, liability, and safety standards. Regulations differ from region to region and can struggle to keep up with the fast changes in shared mobility services. This uncertainty in regulations can slow down market growth, make it harder for new players to enter the market, and raise costs for current providers. Additionally, regulatory frameworks may vary between urban and rural areas, making it more difficult for shared mobility solutions to grow and expand.
Shared mobility services depend greatly on the current transportation infrastructure, including roads, parking lots, and public transportation systems. Problems with infrastructure, like crowded roads or a lack of bike lanes, can make shared mobility services less efficient and accessible, causing disruptions and unhappy customers. Additionally, implementing electric and self-driving vehicles needs investments in charging stations, maintenance facilities, and communication networks. Infrastructure issues can hold back the growth and long-term success of shared mobility solutions, especially in areas with underdeveloped transportation systems.
Opportunities:
While shared mobility services have mainly concentrated on cities, there is an increasing chance to branch out into rural and suburban regions as well. Rural areas frequently encounter limited transportation choices, making shared mobility services a beneficial supplement to current transit options. Additionally, suburban regions with sparse population densities and scattered land use patterns can exploit adaptable and on-demand transportation solutions provided by shared mobility providers. Venturing into rural and suburban markets necessitates custom service offerings, strategic alliances with local stakeholders, and investments in infrastructure and promotional campaigns to cater to distinctive transportation requirements and preferences.
Segment Overview
This section classifies shared transportation services into different categories like ride-sourcing, private, ride-sharing, and vehicle rental/leasing. Ride-sourcing services like Uber and Lyft connect passengers with drivers using mobile apps to provide on-demand transportation. Private shared transportation services involve carpooling and vanpooling agreements between individuals or groups, encouraging cost-sharing and alleviating traffic congestion.
Ride-sharing platforms allow people to share rides with others headed in the same direction, increasing vehicle occupancy and lowering travel expenses. Vehicle rental/leasing services provide short-term access to vehicles, ranging from traditional car rentals to newer models like electric scooters and bicycles, catering to diverse transportation needs and preferences.
This section categorizes shared mobility vehicles into different types like buses and coaches, micro-mobility solutions, passenger cars, and light commercial vehicles (LCVs). Buses and coaches are often seen in urban and suburban areas as a way to provide transportation for large groups of people. Micro-mobility solutions, such as electric scooters, bikes, and mopeds, offer convenient and eco-friendly options for short trips in cities.
Passenger cars, including sedans and SUVs, are used in services like ride-hailing and car-sharing, which aim to provide comfort and convenience for passengers. Light commercial vehicles (LCVs) are used for shared transportation of goods and passengers, serving businesses, delivery services, and logistics companies.
The different types of shared mobility services are categorized based on their business models: business-to-business (B2B), peer-to-peer (P2P), and business-to-consumer (B2C). B2B services are designed for corporations and organizations, offering transportation solutions for employee commuting, corporate events, and business trips. P2P platforms allow individual users to directly share vehicles and rides without intermediaries.
B2C services focus on individual consumers, offering transportation options like ride-sharing, bike-sharing, and vehicle rental through digital platforms and mobile apps. Each business model offers distinct advantages and opportunities for shared mobility providers, depending on the target market and operational requirements.
Global Shared Mobility Overview by Region
The shared transportation market has different trends in various regions worldwide. In North America, well-known companies such as Uber and Lyft are the key players in the market. The region has a solid set of regulations and a high rate of smartphone usage, which has helped in the wide acceptance of shared transportation services. On the other hand, Europe has a mix of public transportation options and a rising interest in eco-friendly mobility choices. Ride-sharing and bike-sharing services are particularly popular in cities such as London, Paris, and Berlin, where the focus on urbanization and environmental issues has increased the demand for alternative transportation solutions.
In countries like China, India, and Japan, big cities are seeing a lot of money being put into shared transportation like electric cars and smart traffic systems. In Latin America and the Middle East & Africa, there is a lot of room for companies that offer shared transportation, with more people moving to cities and traffic getting worse. But there are obstacles like complex rules, not enough infrastructure, and differences in how much money people have. Overall, the shared transportation market is growing quickly and facing different challenges in different places, depending on things like how cities are growing, the rules around transportation, and what people want.
Global Shared Mobility market competitive landscape
The competitive landscape of the shared mobility market is characterized by intense rivalry among key players striving to capture market share and expand their service offerings. Established companies such as Uber, Lyft, and Didi Chuxing dominate the ride-sourcing segment globally, leveraging their extensive networks, brand recognition, and technological expertise to attract customers. Meanwhile, traditional car rental companies like Hertz and Enterprise have entered the market by integrating shared mobility services into their existing business models.
In the bike-sharing and scooter-sharing sectors, companies like Lime and Bird compete fiercely for market dominance, deploying innovative strategies to differentiate their offerings and gain a competitive edge. Additionally, automotive manufacturers such as BMW and Ford are investing in mobility-as-a-service (MaaS) platforms and launching their own shared mobility initiatives to diversify revenue streams and adapt to changing consumer preferences. As the shared mobility market continues to evolve, new entrants and start-ups are also emerging, disrupting traditional transportation models and contributing to the competitive intensity of the industry.
Key Players:
Global Shared Mobility Recent Developments
Scope of global Shared Mobility report
Global Shared Mobility report segmentation
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Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Research Methodology
Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region. The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.
Data Collection
Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.
Primary Research
After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market.
Secondary Research
A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.
Top-Down Approach & Bottom-Up Approach
In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.
In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.
This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.
Market Analysis & size Estimation
Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.
Quality Checking & Final Review
The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.
