In recent years, substantial change has been observed in urban mobility. Mobility patterns are becoming increasingly complicated, and numerous locations have been connected in unpredictable ways.
Given these developments, policymakers and planners are investigating new configurations and modes of transportation. Smart mobility as a service is one such concept that has grown in popularity.
What is Mobility as a Service (MaaS)?
A MaaS platform includes services such as trip planning, tracking, reservations for cars and rides, processing payments, and service review. Service providers can easily implement multi-modal solutions like carpooling, bike sharing, taxi, or vehicle rental for a predetermined period.
The rise of smartphones has given rise to the MaaS paradigm, which is data-driven and user-centered. This service needs the following elements to function well:
• Broad smartphone with 3G, 4G, and 5G networks
• High levels of safe and dynamic connectivity among different sources of transportation systems such as vehicle providers, drivers, and customers
• Sufficient data on available travel alternatives, schedules, and updates
• Cashless payment methods
A wide range of market players has collaborated to make these conditions possible, including mobility management players, telecom leaders, payment processors, public and private transportation providers, and local authorities in charge of transportation and city planning.
The physical infrastructure that facilitates switching between modes of transportation, such as intersections between buses and subways or bike and carsharing areas at stations, should also be carefully integrated. Planners of transportation should consider how the various modalities interact.
The desire for on-demand mobility services, developing trend of smart mobility with enhanced in-vehicle amenities, rising parking issues, and emphasis on lowering CO2 emissions are all projected to contribute to the expansion of the MaaS market.
According to the BIS Research analysis, the global mobility as a service market was estimated to be at $39.23 billion in 2021, which is expected to grow with a CAGR of 25.7% and reach $379.66 billion by 2031.
Transformation of MaaS into Smart Mobility as a Service
Although the idea of mobility as a service has recently attracted a lot of attention, the idea of an intelligent information assistant integrating into travel services was raised in 1996. Over the years, this concept has ultimately developed into the highly advanced MaaS, which is set to transform the transportation system.
With the launch of MaaS platforms in the U.K., such as Mobilleo, cities are moving toward becoming smart cities. The possibility for MaaS to grow into a multi-billion-dollar sector is becoming a hot issue in business headlines, and research teams have started to project when cities will have fully incorporated smart mobility as a service into their infrastructure.
The idea of "smart mobility" is quickly gaining acceptance as a practical idea. Tasks around urban mobility now require qualified traffic planners due to trends in global urbanization, the increase in the number of people living in cities, and the effects of climate change and the environment.
A sustainable transportation system must be established in most cities across the world to preserve and enhance the urban environment. Traffic jams and delays, environmental effects (noise, pollution), and finally, the implementation of regressive investment policies in the transport infrastructure segment are all negative effects of cities' economic success and excessive use of private vehicles.
A smart city is an urban area that uses information and communication technology, business strategies, and solutions to boost productivity, inform the populace, and enhance the standard of services and welfare of its residents.
One of the key pillars of the idea of a smart city is smart transportation. The potential for integrating technology into the transportation industry is expanding thanks to the use of numerous technological solutions in every area of traffic science and transportation.
Role of Autonomous Vehicles in the Smart Mobility Solutions
Currently, companies are focusing on creating autonomous vehicles that integrate with MaaS platforms, and certain prototypes of these vehicles are currently undergoing testing.
Connected and autonomous vehicles are expected to bring about significant changes in value chains, profit pools, and required capabilities. These benefits include increased personal safety, mobility for non-drivers, time savings for drivers, decreased environmental harm, and lower transportation costs.
The majority of manufacturers are putting effort into the creation of linked and autonomous automobiles. Some of the top automakers striving for level 5 autonomy are Tesla, General Motors, Daimler AG, Ford Motor Company, Volkswagen Group, BMW AG, Renault-Nissan-Mitsubishi Alliance, and Toyota Motor Corporation.
Better In-Vehicle Technologies Enabling Smart Mobility Solutions
The mobility as a service market has been driven by a rising preference for private vehicles with better in-vehicle technologies. Traffic congestion is a result of urbanization followed by an increasing number of automobiles, which has garnered a solid opportunity for mobility service providers to meet the growing demand from the transportation industry.
Smart mobility solutions are made possible by connected technology and digital transformation, which combine real-time information and communications technologies and enable the Internet of Things (IoT) to automate tasks. To provide commuters with real-time information, cities may interact and communicate with them utilizing these technologies.
The automobile industry is a center for innovations like connected vehicles, autonomous vehicles, and electric vehicles, which have fuelled the industry's explosive expansion. These developments create mobility options that are practical, effective, and dependable.
Mobility has grown more practical and economical because of the expansion of the automotive sector. The automotive sector has, however, recently had to contend with several issues, including increased car traffic and vehicle emissions.
To address these issues, the idea of smart mobility as a service was developed. Modern technologies in the mobility industry are being utilized by MaaS' creative business strategy.