The global B2C mobility sharing market size is expected to reach USD 282.82 billion by 2030 according to a new study by Polaris Market Research. The report “B2C Mobility Sharing Market Share, Size, Trends, Industry Analysis Report, By Service Model (Car Sharing, Bike Sharing, Scooter Sharing, Ride-Hailing, Others); By Vehicle; By Level of Automation; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The factors such as the penetration of technology and the risen people living in urban areas are propelling the B2C shared mobility market growth during the forecast period. Cities in Europe, North America, and Latin America host more than 70% of the world's population. The societal costs of urbanization have escalated, including environmental deterioration, traffic congestion, and accidents, which are urgent issues.
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Technology is crucial for maintaining supply chain resilience and enabling safe and sustainable transportation for millions of people sharing limited space. As cities have gotten more densely inhabited, residents' transportation has increased. The high expense of living in cities and the requirement for quick, adaptable, and cost-effective mobility have created an urgent demand. Furthermore, MaaS is a developing idea that defines how consumers and organizations are transitioning away from car ownership and service-based transportation.
In this perspective, MaaS encompasses both multi-modal transport modes aggregation and on-demand mobility. This corporate innovation has boosted convenience to customers and changed their preferences, as an increasing number of consumers prefer not to own vehicles. This trend has also prompted global finance to engage in the B2C shared mobility market opportunity, leading to the establishment of a slew of industry players catering to consumer needs.
Based on the service model, the ride-hailing segment accounted for the leading share in 2021. Ride-hailing services are gaining popularity among consumers worldwide, owing to their convenience, low cost, and lack of the need to drive, as well as the ease with which the service-providing app can be used. Ride sourcing services are conducted via a smartphone; thus, an increase in smartphone usage is predicted to promote the global spread of ride-sourcing services. For instance, according to Pew Research Center, the great majority of Americans — 97% – now own some cellphone. The percentage of Americans who have a smartphone has increased to 85%.
Market players such as Hertz, Lyft Inc., Avis Budget Group Inc., Beijing Xiaoju Technology Co Ltd., Uber Technologies Inc., Cabify, Careem, Enterprise Holdings, ANI Technologies Pvt. Ltd., Europcar, Grab, and Bolt are some key players operating in the global market.
Polaris Market Research has segmented the B2C mobility sharing market report based on the service model, vehicle, level of automation, and region:
B2C Mobility Sharing, Service Model Outlook (Revenue - USD Billion, 2018 - 2030)
B2C Mobility Sharing, Vehicle Outlook (Revenue - USD Billion, 2018 - 2030)
B2C Mobility Sharing, Level of Automation Outlook (Revenue - USD Billion, 2018 - 2030)
B2C Mobility Sharing, Regional Outlook (Revenue - USD Billion, 2018 - 2030)