Global Mobility as a Service Market Outlook, 2029

The Global Mobility as a Service (MaaS) market has rapidly evolved, propelled by advancements in technology and shifting consumer preferences towards integrated transportation solutions. Emerging in the early 2010s, MaaS represents a paradigm shift in urban mobility, offering users seamless access to various transport modes through a single digital platform. This concept aims to optimize transportation efficiency, reduce congestion, and promote sustainable travel practices by integrating public transit, ride-sharing, bike-sharing, and even micromobility options like electric scooters and bicycles. As the MaaS market matures, regulatory challenges persist, particularly concerning data governance, liability issues in multimodal journeys, and ensuring accessibility for vulnerable populations. Regulatory bodies continue to refine policies to strike a balance between fostering innovation and protecting public interests. Looking ahead, the MaaS market is poised for substantial growth, driven by ongoing urbanization trends, environmental concerns, and the imperative for efficient transportation solutions in congested urban areas. The collaboration between governments, private sector stakeholders, and technological innovators will be pivotal in shaping the future landscape of mobility services, ensuring sustainable, inclusive, and accessible transportation options for global populations. Governments worldwide have recognized the potential of MaaS to address urban mobility challenges and have started implementing regulatory frameworks to support its growth. These regulations typically focus on ensuring interoperability among different transportation providers, data protection standards, and fair competition within the market. For instance, in the European Union, the General Data Protection Regulation (GDPR) mandates stringent guidelines on data handling and privacy, affecting how MaaS platforms collect, store, and utilize user information. According to the research report "Global Mobility as a Service (MaaS) Market Outlook, 2029," published by Bonafide Research, the Global Mobility as a Service (MaaS) market was valued at more than USD 4 Billion in 2023. The key factor that drives the growth of the global vehicle tracking systems market includes integration of real-time monitoring and fuel management in vehicles and safety & security concern within transportation services. Moreover, increase in fleet operations especially in emerging markets is expected to boost the revenue growth of the market during the forecast period. However, price concerns of fleet owners, data privacy infringement along with the cyber security threats and atmospheric inference concern is expected to hinder the market growth. Conversely, rise in adoption of intelligent transport systems, emergence of 5G into vehicle connectivity and growing adoption of mobility-as-a-service (MaaS) are anticipated to provide lucrative growth opportunities for the growth of the market. As conventional vehicles cause a high amount of carbon emission, governments worldwide are imposing stringent emission norms to curb rising pollution. Therefore, to reduce carbon emissions and expand business in economies with stringent emission norms, various leading mobility-as-a-service providers are transforming their fleets to electric to offer clean future mobility solutions for the urban populace. Uber Technologies Inc. announced that by 2040, 100% of its rides in the U.S. will take place in electric vehicles. The increasing acceptance and adoption of digital payment methods, such as mobile wallets, contactless payments, and digital banking, facilitate hassle-free transactions for transportation services. This simplifies the payment process for users and enables MaaS providers to offer innovative pricing models, loyalty programs, and incentives to attract and retain customers. As such, MaaS providers are leveraging digital payment solutions to streamline payment processes, enhance security, and improve the overall user experience, driving the growth of the global MaaS market.

Market Drivers Urbanization and Congestion: As urban populations grow; cities face increasing traffic congestion and pollution. MaaS offers integrated transportation solutions that can reduce the number of private vehicles on the road, easing congestion and improving air quality. Technological Advancements: Advancements in mobile technology, GPS, and data analytics have enabled the seamless integration of various transportation services into a single platform. This allows users to plan, book, and pay for multimodal journeys through a single app. Market Challenges Regulatory Hurdles: Different regions and countries have varying regulations and policies governing transportation services. MaaS providers must navigate these complex regulatory environments to operate legally and efficiently. Integration of Services: Integrating diverse transportation modes (such as buses, trains, ride-sharing, bikes, scooters) into a unified platform presents technical and operational challenges. Ensuring interoperability and smooth transitions between modes requires robust technology and collaboration among stakeholders. Market Trends Integration of Mobility Modes: MaaS platforms are evolving to offer multi-modal options, allowing users to plan, book, and pay for journeys across different modes of transport through a single app. Integrated MaaS solutions provide convenience to users, reduce travel times, and promote the use of sustainable transport options. Partnerships and Collaborations: Increasing partnerships between MaaS providers, transport operators, technology firms, and city authorities to develop scalable and sustainable mobility solutions. Collaborations enable access to diverse transportation options, improve service reliability, and address regulatory challenges through collective advocacy and policy influence.

Make this report your own

Have queries/questions regarding a report?

Take advantage of intelligence tailored to your business objective

Ask an Expert

Manmayi Raval

Research Consultant

based on the report the service type is segmented into ride hailing, car sharing, taxi services, others. Ride hailing services involve platforms that connect passengers with drivers using private vehicles via mobile applications. These services offer convenience and flexibility, allowing users to request rides on-demand, typically with transparent pricing and varied vehicle options. Ride hailing has significantly disrupted traditional taxi services by providing quicker response times and often lower costs, leveraging technology to optimize driver availability and route efficiency. Car sharing programs enable individuals to access vehicles on a short-term basis, typically by the hour or day, through a membership-based system. Users can locate and unlock vehicles via smartphone apps or membership cards, making car sharing a flexible alternative to car ownership for sporadic transportation needs. This sub-segment promotes sustainable urban living by reducing the overall number of private vehicles on the road, thereby easing traffic congestion and lowering emissions. Traditional taxi services remain a significant component of the MaaS market, offering point-to-point transportation with licensed drivers and regulated fares. Unlike ride hailing, taxi services operate with a fleet of dedicated vehicles available for immediate hire from designated stands or through dispatch services. Although facing competition from ride hailing platforms, taxis often cater to specific customer preferences such as regulated fares, fixed pickup locations, and accessibility requirements. Other category encompasses a diverse range of mobility solutions within the MaaS framework, including micro-mobility options like bike and scooter sharing, on-demand shuttle services, and integrated multi-modal platforms. These offerings aim to provide seamless connections between different modes of transportation, promoting convenience and sustainability in urban environments. Innovations in this space continue to expand, driven by advancements in technology and evolving consumer preferences towards more efficient and eco-friendly travel options. based on the report the transportation is segmented into Private and Public. Private transportation in the MaaS context typically refers to individual modes of travel that are not publicly operated or managed. This includes personal vehicles, ride hailing services, and car sharing programs. While not traditionally considered part of MaaS, the integration of personal vehicles into MaaS platforms is increasingly being explored. This can involve services that help optimize usage, such as carpooling or sharing vehicles during periods of non-use. Ride Hailing and Car Sharing services provide on-demand access to private transportation options. Ride hailing connects users with professional drivers using their own vehicles, while car sharing allows individuals to rent vehicles for short periods, typically by the hour or day. Private transportation options in MaaS cater to users seeking flexibility, convenience, and personalized travel experiences. They often leverage technology to enhance accessibility, optimize routes, and provide real-time service updates, thereby improving user satisfaction and operational efficiency. Public transportation within MaaS encompasses services that are publicly operated and accessible to all individuals within a defined service area. This includes buses, trains, subways, trams, and other forms of mass transit. Public transportation systems are essential components of urban mobility, offering fixed-route services on a scheduled basis. These systems play a critical role in reducing traffic congestion, promoting sustainability, and providing equitable access to transportation for all segments of the population. Advances in MaaS often involve integrating public transit options into comprehensive platforms that enable seamless ticketing, scheduling, and real-time updates. This integration enhances user convenience and encourages greater adoption of public transportation by simplifying the travel experience. based on the report the application type is segmented into iOS, android, others. iOS refers to the operating system developed by Apple, primarily used on iPhones and iPads. MaaS applications available on iOS are designed specifically for Apple devices and are distributed through the Apple App Store. These applications leverage Apple's ecosystem and user interface guidelines to provide a seamless and intuitive user experience tailored to iOS devices. Integration with iOS features such as Apple Pay for transactions and Siri for voice commands can enhance the functionality of MaaS applications on these devices. Android is the open-source operating system developed by Google, widely used on a variety of smartphones and tablets from different manufacturers. MaaS applications on Android are available through the Google Play Store and are designed to work across a diverse range of devices with varying screen sizes, hardware capabilities, and user preferences. Android's flexibility allows for extensive customization and integration with features such as Google Maps for navigation and Google Pay for transactions, offering a robust platform for delivering MaaS solutions to a broad user base. The "others" category typically includes less common or emerging mobile operating systems that have smaller market shares compared to iOS and Android. Examples may include Windows Phone or specialized operating systems used in niche markets or specific devices. MaaS applications developed for these platforms may face challenges related to market reach and compatibility but can cater to specific user demographics or industries where these platforms are prevalent.

Don’t pay for what you don’t need. Save 30%

Customise your report by selecting specific countries or regions

Specify Scope Now

North America's leadership in the Vehicle Tracking System (VTS) industry is primarily due to its advanced technological infrastructure, extensive market demand, and robust integration of data analytics and connectivity solutions. North America has emerged as a leader in the Vehicle Tracking System (VTS) industry, driven by its advanced technological infrastructure, significant market demand, and the seamless integration of data analytics and connectivity solutions. These factors collectively create an environment conducive to the development and widespread adoption of sophisticated VTS technologies. A key driver of North America's dominance in the VTS industry is its highly advanced technological infrastructure. The region is home to a wealth of technological innovation hubs, such as Silicon Valley and tech centers in cities like Toronto and Vancouver, where cutting-edge research and development in areas like GPS technology, real-time data analytics, and Internet of Things (IoT) connectivity are prevalent. This technological ecosystem supports the creation of advanced vehicle tracking systems that leverage high-precision GPS, cellular networks, and cloud-based platforms to provide accurate and real-time vehicle tracking information. North American companies are at the forefront of integrating these technologies to offer comprehensive VTS solutions that enhance vehicle management, improve logistics, and ensure safety. North America's regulatory environment supports the growth of the VTS industry by establishing clear guidelines and standards for data security, vehicle safety, and privacy. Regulations such as the General Data Protection Regulation (GDPR) in Canada and various state-level initiatives in the U.S. ensure that VTS providers adhere to high standards of data protection and security. This regulatory framework not only fosters consumer trust but also encourages innovation by providing a structured environment for developing and deploying VTS technologies. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Vehicle Tracking System (VTS) Market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By types: • Active • Passive By components: • Hardware • Software By Vehicle type: • Passenger cars • Commercial vehicles By Technology: • GPS/Satellite • GPRS/Cellular networks • Dual mode The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Vehicle Tracking System (VTS) industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.