Mobility as a Service (MaaS) is the next step in the future of the transportation and commute model globally. The target of the MaaS is to digitalize the operations and bring both providers and users at one single platform. According to a market research report published by BIS Research titled, Mobility as a Service Market – Analysis and Forecast (2018 – 2028), the global mobility as a service market is projected to reach $1759.83 billion by 2028. Also, as per the trends it is suggested that MaaS market will be the leading value generator by the end of 2040. Factors driving the market are on-demand assured ride, integration of multi-modal transportation options, and wide range of options available with the end-user, which include types of commute, duration of service, choice of driver, real-time journey optimization and type of pricing among others. The aim of a MaaS platform is to integrate as many activities related to transportation as possible such as planning a journey, booking the ride, tracking the payment and taking feedback at the end of the service completion. MaaS also aims to integrate the domain of public transportation on its platform.
Presently, private vehicles and public transport has the maximum share in the automotive industry in terms of value and it is expected that MaaS is going to be the future of the modern transportation service. The platform of MaaS collects huge amount of data in form of planning requirement, mode of transportation, and service requirement. The collected data then enable the providers to offer customized services based on the interest of the consumers. In the MaaS market data is of utmost importance as it helps in driving customer centric solutions. Factors that can increase its penetration in the market are high level of efficiency, regulations, integration of multiple commute solutions at one single platform.
According to the report published by BIS Research, MaaS can have different end users such as business companies, end customers, industries and government. Further, the market can be segmented by the type of service including ride-sharing, ride-hailing, car-sharing, shuttle service, and others. Ride-sharing is the top most contributor in the service type segment. As per the 2017 data, the region of Americas holds the maximum market segment followed by APAC and EMEA region respectively. The focus of MaaS providers is more towards developing countries as due high demand for this service due to convenience, cost and accessibility of these services.