Global Shared Mobility Market by Service Type (Ride Hailing, Bike Sharing, Ride Sharing, Car Sharing, and Others), By Vehicles Type (Cars, Two-Wheelers, and Others), By Business Model (P2P, B2B, and B2C), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032.

Report Overview

The Global Shared Mobility Market size is expected to be worth around USD 817.4 Billion by 2032, From USD 266.1 Billion by 2023, growing at a CAGR of 12.20% during the forecast period from 2023 to 2032.

Sharing transportation services with other people is shared mobility. Commercial vehicle owners share their vehicles with a particular organization, and these vehicles offer riding services. Shared mobility includes scooters, cars, taxis, bike sharing, and other sharing vehicles.

Shared mobility is most convincing because of the ride’s environmentally friendly and cost-effective services. Shared mobility is only partially able to replace personal vehicle ownership.

Most customer demand for self-driving taxis is compared to the short-distance locations. Advanced services and modes are introduced, such as P2P service, electric scooters, and increasing ride-sharing. It is expected to develop the potential integration and personalized travel options on the customer’s demand.

Due to parking problems and the increased cost of road vehicles, there is an increase in the rate of fuel in developing regions around the world. Such factors help to boost the growth of the shared mobility market.

Driving Factors

Increasing Popularity of Ride-sharing Among the Consumer

New modes and services have been introduced, such as ride-sharing, Peer-to-Peer car sharing, and shared electric scooters. Such factors have been recognized for their potential integration, personalized travel on demand, automated processes, and environment-friendly nature. The expansion and growth of smartphones and cars are the key factors driving market growth.

Several industries started the production of mobile apps and help for non-ownership rides. The rider can easily reserve their ride using this online app according to their necessities route and vehicle time for the particular period.

Due to the increasing adoption of cost-effective transport and well-designed modes of transport rides to their customer, the growing popularity of ride-sharing among customers helps to boost the market growth.

Restraining Factors

Several Problems Associated with the Shared Mobility Services Market

The major factors anticipated to hamper market growth are the lack of preference while traveling with strange people while sharing transportation and rising concern about private information.

However, taking the longer route while sharing transportation is the market’s major challenge during the forecast period. Many countries lack organization for the vehicles that fall under the micro-mobility services concepts and hence lack the arraigning infrastructure to charge these vehicles.

Growth Opportunities

Increasing investments and Healthcare Facilities

The growing geriatric population, high patient volumes, and spiking awareness among individuals are driving the need to improve shared mobility services worldwide. The increase in demand for the ride-hailing service model is rising due to increasing internet penetration and bike-sharing rates in developing regions worldwide.

The rising demand for ride-hailing services is expected to increase passenger comfort, traffic congestion, easier booking, and public awareness to motivate people to ride. Hence, it creates lucrative opportunities for the growth of the shared mobility market.

The governments in these economies are increasing their investments to improve services for sharing mobility infrastructure and facilities.  Due to the increasing number of self-driving applications in mobility sharing, it is expected to offer growth opportunities in the shared mobility market.

Trending Factors

Increasing Government initiatives for Investments and Support

The government is concerned about population growth in every region, which negatively impacts the environment. The Governments motivate the people to reduce the use of automobiles as much as possible. Sharing rides with family and friends is the main concept of the government choosing shared rides over personal vehicles.

With the significant increase in population due to the use of automobiles and increasing awareness about reducing air pollution, government agencies motivate people to use ride-sharing mobility services.

Also, ride-sharing is economically compared to personal vehicles, which are less expensive than personal vehicles, accelerating market growth. For example, DB Region AG and ZF Friedrichshafen AG announced that they are partnering to bring autonomous bus shuttles onto the roads of Germany more quickly.

Service Type Analysis

Ride Hailing Segment Is the Most Dominating Segment in the Shared Mobility Market

Based on the service type, the shared mobility market is segmented into ride-hailing, bike-sharing, ride-sharing, car-sharing, and other types. The ride-hailing segment is the most dominant in the shared mobility market during the forecast period. Due to the increase in demand for internet service in developing countries worldwide.

The increase in new types of services to ensure customer satisfaction is expected to the growth of these segments in the world. For example, shared mobility providers are Uber introduced UberSUV, Uber Black, UberLux, and Uber Tax, which include Uber drivers and vehicles in the leasing services.

The increasing demand for ride-hailing services could be recognized by increased traffic, easier booking, mobility of people, and increased government activities to raise public awareness about air pollution and motivate to participate in riding, especially in ride-hailing. The scooter-sharing segment is also expected to grow during the forecast period. The Two-wheeler services are anticipated to expand in the coming years.

Vehicle Type Analysis

The Cars Segment Held the Highest Shares in the Shared Mobility Market

Based on vehicle type, the market is segmented into Cars, Two-wheelers, and others. The car vehicle segment is the most dominating segment in the shared mobility market during the projection period. The two-wheeler segment is also expected to rise in the coming years because the bike is the most demanding and faster mode of transport, even in traffic on city roads.

For example, most people demand the adoption of electric vehicles. The two-wheelers are anticipated to witness the segment’s growth in the future. In recent years, shared transportation has significantly increased with severe factors such as increased natural resources, economic concerns, and limited energy resources estimated to boost the shared mobility market.

Several companies invest a lot of money to expand their vehicle rental services, while care sharing is expected to significantly improve demand during the forecast period.

Business Model Analysis

Peer-to-Peer Segment Is the Most Dominating Segment in the Market

Based on the business model, the market is segmented into three types B2B, P2P, and B2C. Peer-to-peer (P2P) is the most dominating segment and is anticipated to hold the highest shares in the mobility-shared market. The P2P segment is used for transportation by sharing a vehicle with one or more people traveling in the same direction.

Increasing the use of automobiles for rental services and increasing the fuel cost also helped the growth of this segment during the forecast period. The B2B Business-to-Business also shows the fastest growth of this segment in the coming future. B2B sharing allows businesses to share their mobility services with other businesses to reduce Car Parking space and pollution.

In this segment, mobility sharing allows companies to share their vehicles with their employees and helps reduce traffic problems. Also, B2C companies are anticipated to grow during the forecast period. Business sharing allows customers to use commercial vehicles to travel as per their continence.

This B2C segment is significantly increasing due to increasing demand for self-driving services, which will help boost the shared Mobility market growth.

Key Market Segments

Based on the Service Type

• Ride Hailing
• Bike Sharing
• Ride Sharing
• Car Sharing
• Other Service Types

Vehicles Type

• Cars
• Two-Wheelers
• Other Vehicle Types

Business Model

• P2P
• B2B
• B2C

COVID-19 Impact Analysis

COVID-19 is Negatively Impact on the Shared Mobility Market

The COVID-19 Pandemic negatively impacted the shared mobility market growth. Due to changes in the mobility patterns of customers all around the world. The decrease in mobility of people during COVID-19. Customers chose the sanitized and safe modes of transportation.

People mostly avoided shared mobility services. Ride-hailing has also decreased due to the implementation of social distancing and the fear of crowding. The micro-mobility vehicles such as e-bikes, scooters, assisted bicycles, and other daily travel are expected to increase the shared mobility market growth during the forecast period.

Regional Analysis

Asia Pacific dominates the Largest Shares in the Shared Mobility Market

The Asia Pacific is the most dominating region holding the highest revenue shares in the shared mobility market during the projection period due to the adoption of extensive technology and the speedy expansion of smartphones and tablets in this region. Cars and traffic rates are consistently increasing in regions such as India and China.

The developing regions, such as India, where increasing urbanization and transportation facilities and infrastructure are developing with increased mobility solutions. The increasing demand for shared transportation with rising corporate travelers in several regions, such as South Africa and the U.A.E., helps grow the shared mobility market. The government produces several ways to reduce emissions of Greenhouse Gases, which helps boost the market growth during the forecast period.

Several market players consistently focus on developing advanced features for shared mobility. Also, the latest start-up companies are starting and testing advanced mobility applications, which helps boost the global shared mobility market.

Key Regions and Countries

• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Share and Key Players Analysis

Emerging key players are focused on various strategic policies to develop their respective businesses in foreign markets. Several shared mobility market companies are concentrating on expanding their existing operations and R&D facilities. Furthermore, businesses in the shared mobility market are developing new products and portfolio expansion strategies through investments, mergers, and acquisitions.

In addition, several key players are now focusing on different marketing strategies, such as spreading awareness about natural ingredients, which is boosting the target products’ growth.

Market Key Players

The shared mobility market is highly fragmented, with many local and regional players. Market players are subject to intense competition from top players, particularly those with strong brand recognition and high distribution networks. Companies have gained various expansion strategies, such as partnerships and product launches, to stay on top of the market.

Listed are the Key Market Players

• Grab Holdings Inc.
• Uber Technologies Inc.
• Beijing Xiaoju Technology Co, Ltd.
• Lyft Inc.
• Zipcar Inc.
• Bolt Technology OÜ
• Enterprise Holdings Inc.
• HERTZ SYSTEM, INC.
• Deutsche Bahn Connect GmbH
• ANI Technologies Private Limited
• Polaris Inc.
• Careem Inc.
• Blu-Smart Mobility Pvt. Ltd.
• Meru Mobility Tech Pvt. Ltd.
• Other Key Players

Recent Developments

• In April 2021: The ride-hailing start-up partnered with Curb Mobility to incorporate yellow taxis into its app. Now the app will be available in approximately 65 cities across the United States.
• In April 2021: Altimeter Growth Corp. and Grab Holdings Inc., Southeast Asia’s leading super app, announced their partnership, which would be going public in the United States. It will help to boost Grab’s Strong business momentum.

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