Global Shared Mobility Market Size was valued nearly USD 107.93 billion by 2017 and is estimated to reach up to USD XX.XX billion by 2025. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 27% during the forecast period, i.e. 2017-2025. Owing to increasing penetration of shared vehicles and smartphones is major key trends escalating market growth during forecast period as well traffic, fuel costs, parking spaces specially in emerging countries overall the world are projected to further stimulate the growth of the shared mobility market over the forecast timespan.

Global Shared Mobility Market Growth Opportunities (Revenue, Growth) By 2017-2025

Shared Mobility is a type of vehicle which give service to a customer by serving a vehicle is on shared basis on the time and distance it is used in return of money. A vehicle owner provides the vehicle on a rental basis to customers and other companies. Consumers who do not own a vehicle prefer a shared vehicle, increase in number of vehicle owners has led to increased traffic congestion and rise in global emission levels. Shared mobility services offer options to cancel or modify bookings instantly. Moreover, they are less expensive as compared to other transportation modes and eliminate issues of limited parking space. Various governments worldwide are introducing initiatives to encourage the growth of such solutions in an attempt to reduce traffic congestion on roads.

Market Dynamics:

The global shared mobility market size was valued at USD 104.95 billion in 2017. As per the research the global shared mobility market size will increase in forecasting period, because growing use of smartphone and connected vehicles, along with an elevated problem of traffic in cities, is anticipated to grow the market. Increasing Fuel cost is also one of the reason to attract the customer which will boost the further escalating growth of the market during the forecast period. shared mobility services is less expensive as compared to other transportation modes. Shared mobility services also offer various options to the customer to cancel or modify bookings instantly. Lack of awareness regarding shared mobility services and benefits of such service which hamper the growth of the market over the forecast period.

Market Segmentation:  

As per the research, the major share of the passenger car grabbed the market accounts formajor of the share market, in terms of revenue, passenger car is most probably preferred for ride sharing, sourcing, and rental services, Because the rising demand of increasing populationin the big cities. In North America and Latin America light commercial vehicles are mostly preferred for Car pool and ride sharing services are prominently provided by vehicle owners; therefore the P2P segment accounts for a Market share in terms of revenue. Demand for sharing service and micro-mobility such as scooters, bikes, and other small vehicles is rising, these are popular in crowded places as well as in tourists places. 

Regional Analysis:  

Asia Pacific region such as China and India is observed the fastest growth in shared mobility market, pacific the highest demand for shared mobility market in India and China is DIDI Chuxing, Ola, Uber, These are the ride sharing companies which grab the highest market in Asia Pacific Rapid rising in urban population, increase in working class, surge of the fuel prices rising the demand for shared mobility services across Asia. The Chinese buyers are becoming sophisticated as they are ready to upgrade new technologies  such as ambient lighting and adaptive lighting are gaining space in market to develop the newer and better models, Hence these factors contribute high growth rate in the Asia Pacific.

As per the market research the shared mobility market can be segmented into Europe, Asia pacific, and North America. Due to huge growth in automotive sector in Asia pacific is expected to dominate the global market.

Key Player:

Key players operating in the global shared mobility market include Uber Technologies Inc., ANI Technologies Pvt. Ltd. (OLA), Lyft, Inc., Grab, Careem, Taxify OÜ, Gett, Beijing Xiaoju Technology Co, Ltd. (Didi Chuxing), BlaBlaCar, Wingz, Inc, Curb Mobility, Cabify, Europcar, The Hertz Corporation, Avis Budget Group, Inc., and Enterprise Holdings, Inc. The global shared mobility market is witnessing an increase in merger and acquisition as well as integration activities. Several auto manufacturers have entered in the shared mobility market. The global shared mobility market is considered as a niche market, despite the high level of competition.

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