The MaaS market is expected to post a CAGR of over 35% between 2019-2023, according to the latest market research report by Technavio.
According to the report, government support towards promoting the use of public transport systems to mitigate the growing concerns of pollution and congestion in cities is expected to boost the MaaS market growth during the forecast period.
The report also states that MaaS partnerships with transportation companies will have a positive impact on the market and contribute to its growth significantly over the forecast period.
This will reportedly be achieved as a result of MaaS providers focusing on providing seamless integration between public and private transportation services through mobile ticketing and fare validation solutions.
“The introduction of various measures to restrict the registration of new private vehicles due to the increase in pollution and traffic congestion will drive mobility-as-a-service market growth in APAC,” said a senior analyst at Technavio.
“Additionally, the rise in domestic tourism and growing popularity and awareness about ride-hailing services as a cheaper commute option will also drive the growth of the market in the APAC region.”
The market research report segments the MaaS market by service (e-hailing, car sharing, and others) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively.
Technavio says the growth of the MaaS market share in APAC can be attributed to factors such as the rising urbanisation, growing disposable income in countries such as China, Japan, India, and Australia, and the increasing population in the age group of 15-64 years in the region.
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