Shared Mobility Market Size Worth $731.5 billion by 2030: Grand View Research, Inc.

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09 May, 2022, 11:30 GMT

SAN FRANCISCO, May 9, 2022 /PRNewswire/ -- The global shared mobility market size is expected to reach USD 731.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 16.9% from 2022 to 2030. Rising Internet penetration and increased investment in shared mobility applications are the major factors driving the market.

Key Insights & Findings from the report:

The market is being driven by shared mobility convenience. Growing usage of shared mobility in the peer-to-peer car sharing segment will propel the overall market during the forecast period.
The bike sharing segment is expected to witness the highest CAGR of 20.3% during the forecast period. This is attributed to an increase in the number of bike sharing schemes, particularly in developed countries around the world.
In Asia Pacific, the market accounted for the largest revenue share of 24.7% in 2021.
In Middle East and Africa, the market is expected to witness a significant CAGR of 18.4% during the forecast period, owing to the advancements in technology.

Read 125-page market research report, "Shared Mobility Market Size, Share & Trends Analysis Report By Service Model (Ride Hailing, Bike Sharing, Ride Sharing), By Vehicle Type (Cars, Two-wheelers), By Region (North America, Europe, APAC, Latin America), And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Shared Mobility Market Growth & Trends

With a rise in smart mobility, which is a revolutionary way of figuring out ways to commute in safe, clean, and efficient mode, basically find out a way of Zero-emission, Zero ownership, and Zero accidents. Furthermore, due to the continued development in the use of AI, the market has risen significantly over the last two decades and will continue to grow in the coming years.

Additionally, in terms of commuting time, contactless payment, and overall efficiency, the public transportation system has improved significantly over the last few decades. Many recent developments in technology start-ups have occurred as a result of an increase in market prospects. Market players are increasingly coming up with new motorbike or cab sharing strategies. The public sector is getting even smarter by focusing on routes of public buses and being concerned about timings, as shown by the tracking monitor of different public vehicles at a bus stop. Investors now have started investing in abundance in such a concept seeing the potential market's future. In recent years, shared mobility has taken a keen interest in becoming smarter, as Electric vehicles (EVs) have begun to enter the market, offering it more cost-effective, environmentally friendly, and comfortable.

Moreover, several companies have started making mobile apps to support working toward non-ownership rides. In such a module, the rider can book their ride as per their requirement, route, time, and type of vehicle without owning rather than renting the vehicle for that particular time frame. Ridesharing is growing at the highest rate during the forecast period, and this can be due to customers' wide adoption of the cost-effective and elegant mode of transport rides. In addition, clients who had previously rented a driver to drive their vehicle owing to its cost-effectiveness have now started to shift to shared transportation. Key factors driving the growth of the market globally include increased consumer awareness about shared mobility applications and systems, and higher reliance on mobile applications to make daily processes easier.

Shared Mobility Market Segmentation

Grand View Research has segmented the global shared mobility market based on service model, vehicle, and region:

Shared Mobility Market - Service Model Outlook (Revenue, USD Billion, 2018 - 2030)

Ride Hailing
Bike Sharing
Ride Sharing
Car Sharing
Others

Shared Mobility Market - Vehicles Outlook (Revenue, USD Billion, 2018 - 2030)

Cars
Two-Wheelers
Others

Shared Mobility Market - Regional Outlook (Revenue, USD Billion, 2018 - 2030)

North America

U.S.
Canada

Europe

Germany
U.K.
Spain
France
Italy

Asia Pacific

China
India
Japan
Singapore

Latin America

Brazil
Mexico

Middle East & Africa (MEA)

South Africa
U.A.E.
Saudi Arabia

List of Key Players in Shared Mobility Market

Car2Go
Deutsche Bahn Connect GmbH
DiDi Chuxing
Drive Now (BMW)
EVCARD
Flinkster
Grab
GreenGo
Lyft
Uber
Zipcar

Check out more related studies published by Grand View Research:

Micro-mobility Market - The global micro-mobility market size is expected to reach USD 69.32 billion by 2028, registering a CAGR of 13.7%, from 2021 to 2028, according to a study conducted by Grand View Research, Inc. The growing carbon emission by traditional fuel-based vehicles has been a key concern for government authorities. The sustainability move toward smart cities is one of the key factors responsible for the adoption of eco-friendly and cost-effective transportation.
Micro-mobility Charging Infrastructure Market - The global micro-mobility charging infrastructure market size is expected to reach USD 27.70 billion by 2030, growing at a CAGR of 25.2% from 2022 to 2030, according to a new report by Grand View Research, Inc. Increasing awareness about green transportation modes is expected to drive the adoption of micro-mobility vehicles across the globe. An increasing number of people are preferring e-scooters for traveling over shorter distances as these vehicles take less parking space and can recharge within a shorter time.
Electric Mobility Market - The global electric mobility market size is expected to reach USD 489,315.6 million by 2025 and register CAGR of 21.6% from 2019 to 2025, according to a study conducted by Grand View Research, Inc. Electric mobility, or E-Mobility or Electro Mobility is increasingly accounting for a significant share of the global automotive industry and is changing the way mobility as a concept is conceived by the end-user.

Browse through Grand View Research's Automotive & Transportation Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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Grand View Research, Inc.
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Email: sales@grandviewresearch.com
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