Integrated and connected user-centric ecosystem to increase growth opportunities for service providers, finds Frost & Sullivan
LONDON, May 27, 2019 /PRNewswire/ -- The recent rise of e-scooter start-ups, e-hailing participants launching an initial public offering (IPO) and mobility subscriptions, as well as the popularity of Mobility-as-a-Service (MaaS) are driving the market for shared mobility. Shared mobility business models that focus on integrated and digitally connected ecosystems that offer unified multi-modal mobility services and personalized user experiences will find high adoption all over the world. The ridesharing market in North America is expected to grow by 33% in 2019, while Europe will generate the highest market revenues of more than $4 million.
"Globally, companies are planning to commercialize autonomous shuttles between 2020 and 2022, backed by favorable government initiatives in North America, the UK, China, Japan, and Dubai," said Abhishek Iyer, Research Analyst, Mobility. "There will be an increase in the number of partnerships and rollouts of new technologies such as autonomous shuttles, blockchain, and Artificial Intelligence (AI), which will enhance user experience and operation."
Frost & Sullivan's recent analysis, Global Shared and Autonomous Mobility Industry Outlook, 2019, covers the participants, vehicles, and revenues for different shared mobility services. It analyzes the evolving business models in the shared mobility space, market consolidations and partnerships, and key market trends. It also examines global perspectives for carsharing, P2P carsharing, corporate carsharing, e-hailing, dynamic shuttle, bike sharing, and MaaS business models.
For further information on this analysis, please visit: http://frost.ly/3hk
"Governments across developed cities are building testing infrastructure and piloting autonomous shuttles to evaluate viability and user experience. Approximately 10 to 15 cities can be expected to conduct autonomous shuttle trials on public roads in 2019," noted Iyer. "Cross-industry collaborations for connected technologies, integrated payment capabilities, shared mobility insurance and financial services will also prove to be critical for future success."
For further growth opportunities, industry participants can:
- Partner with stakeholders from other industries such as banking and financial services (BFS) and insurance to lower costs and generate fresh revenue streams.
- Create effective roadmaps with government and public transit agencies.
- Adopt business models like vehicle subscription services, demand responsive transit (DRT), ride-hailing and carsharing to create opportunities for data monetization. This will also allow them to leverage their investments and partnerships to develop autonomous and emission-free vehicle technologies.
- Include new services such as financial lending, vehicle leasing, insurance, and wealth management.
Global Shared and Autonomous Mobility Industry Outlook, 2019 is part of Frost & Sullivan's global Automotive & Transportation Growth Partnership Service program.
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Global Shared and Autonomous Mobility Industry Outlook, 2019
SOURCE Frost & Sullivan