Shared Mobility Market to Surge at 41.57% CAGR, which is anticipated to reach USD 1314.4 billion by 2030

CRI Report has released a report titled “Shared Mobility Market–Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030” which is anticipated to reach USD 1341.4 billion by 2030. According to a study by CRI Report, the market is anticipated to portray a CAGR of 41.57% between 2020 and 2030. According to the report, effective cost and convenient mobility had enticed many entrepreneurial and user interests, which is remarkably propelling the growth of the Global market. Charges on fuel, parking, insurance, and other expenses are the key factors to boost the Shared Mobility Market growth. Increasing costs of vehicle ownership in emerging countries are projected to positively influence the market growth during the forecast period. Government initiatives and policies are eminent factors to dominate the Shared Mobility Market growth.

The market report on Shared Mobility Market includes in-depth insights as: 

• The estimated value of the market was USD 58.6 billion in the year 2020.
• Shared Mobility in Asia Pacific held the largest market share in the year 2020.
• Based on Service Type, Bike Sharing emerged as a key segment in the Shared Mobility market.
• Based on Vehicle Type, Cars emerged as a key segment in the Shared Mobility market.
• Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.

“Government initiatives regarding the concern for more usage of shared transports tend to drive the Shared Mobility Market rapidly, as well. The mounting population has led to a hazardous impact on the environment. This, as a result, compelled the government to encourage people to restrain themselves from using automotive and utilize more use carpools. Car sharing has positively raised the Shared Mobility Market. Cost-effectiveness is another factor to drive the Shared Mobility Market swiftly. Costumers rising utilization for such services has benefited the growth of the Global market”, said a lead analyst at CRI Report

Shared mobility is defined as the transportation services and resources that are shared among users. Shared mobility leads to better naval utilization of vehicles including cars, motorbikes, buses, scooters, etc. This service provides economic efficiency over car ownership and a short-term approach for any vehicle mode to the users. Shared mobility offers alternates to book, cancel or modify bookings. They are also less expensive as compared to other modes of transportation and termination issues regarding limited parking.

Shared Mobility Market is segmented by vehicle Type into cars, buses/ two-wheelers, and others. The car segment is accounted for the highest market share of the Shared Mobility Market. The cars are likely to dominate the market during the forecast period. According to a study by the Center of Automotive Research, over 60,000 vehicles used car-sharing wherein in America over 25,000 cars were used. Further, such participation is expanding these kinds of services in emerging economies, which is creating high development for the growth of the Global Shared Mobility Market. Further, the bike segment is projected to register the largest share during the forecast period, as well. Several bike-sharing is cost-effective and quick to use the resource if compared to other segments. This has positively impacted the Global market growth of Shared Mobility.

• Key Players in the Market

Some of the key players operating in the Shared Mobility Market are Bashar Technologies Pt. Ltd., Maxi Mobility, ANI Technologies Ltd., Yulu Bikes Ltd., Meru Mobility Tech Ltd. (Meru), Beijing Xiaojun Technology Co, Uber Technologies Inc., Zoom car India Ltd., Wicked Ride Adventure Services Ltd., MOBIKA, Camuto SA, Other Prominent Players.

Get Valuable Insights into Shared Mobility Market

In the new report, CRI Report thrives to present an unbiased analysis of the Shared Mobility Market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. Shared Mobility Market is segmented by Service Type into Ride Sharing, Car Rental, Bike Sharing, Car sharing, and Others. By Vehicle Type into Cars, Buses, Two-Wheelers, and Others. By Business Model (Business to Business(B2B), Business to Customer(B2C), Peer to Peer(P2P). Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.