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(Transportation-News.com, March 02, 2017 ) The report "Mobility on Demand Market by Service Type (e-Hailing, Car Sharing, Station-Based, Car Rental), Data Service (Navigation, Information, Payment), Connectivity (3G, 4G, 5G, Wi-Fi, and V2V, V2I, V2P, V2N), Vehicle Type, and Region - Global Forecast to 2025", The mobility on demand market is projected to grow at a CAGR of 19.81% from 2017, to reach a market size of USD 276.00 Billion by 2025. The market is primarily driven by rising urbanization and declining car ownership.
Browse 64 market data tables and 61 figures spread through 149 pages and in-depth TOC on “Mobility on Demand Market - Global Forecast to 2025"
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“E-hailing to be the largest segment of the mobility on demand market, by service type”
E-hailing is expected to dominate the mobility on demand market. It solves the problem of the first and last mile connectivity for passengers. E-hailing is predominant in urban areas because of a declining trend of car ownership and increasing consumer preference. E-hailing significantly reduces waiting time for taxis and provides precise time using GPS. Consumers are gravitating towards app-based e-hailing owing to its user friendliness, focus on better customer service, and innovative pricing system.
“Electric vehicles to be the fastest growing segment in the mobility on demand market, by vehicle type”
The electric vehicle segment is projected to grow at the highest CAGR during the forecast period. Electric vehicles will be used for mobility on demand replacing IC engine vehicles. The anticipated development of electric vehicles along with autonomous and self-driving cars is expected to revolutionize the mobility on demand landscape, as drivers will no longer be essential for mobility. Asia-Pacific is expected to have the fastest growing market for electric vehicles due to government incentives and increasing supporting infrastructure.
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“Asia-Pacific to have at the largest market size during the forecast period”
Asia-Pacific is estimated to dominate the mobility on demand market, and the market is projected to grow at a significant CAGR during the forecast period. The growth in Asia-Pacific is attributed to a wide customer base due to dense population and rising urbanization in emerging economies such as China and India. Factors such as increasing urbanization and rising traffic congestion will drive the demand for mobility on demand services. For countries like India and China, consumer preference is changing; with rising population, the need for mobility on demand is increasing in order to cater to the increase in the consumer base.
The mobility on demand market is dominated by a few global players, and comprises several regional players. Some of the key players operating in the mobility on demand market are Uber Technologies Inc. (U.S.), Delphi Automotive Plc (U.K.), Denso Corporation (Japan), Intel Corporation (U.S.), and TomTom NV (The Netherlands).
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