According to the research report titled ‘Global Mobility as a Service Market Size study, by Service Type (E-Hailing, Bike Sharing, Car Sharing, Pop-Up Busses and Self-Driving Cars), by Vehicle Type (Buses, Car and Air-Flights), by Organization Size (Large Enterprises and Small and Medium-Sized Enterprises), by Business Model (Business-To-Business, Business-To-Consumer and Peer-To-Peer), by Application (Personalized Application Services, Dynamic Journey Management, Flexible Payments, Transactions, Journey Planning and Other) and Regional Forecasts 2020-2027‘, available with Market Study Report, global mobility as a service market is anticipated to register considerable growth during 2020-2027.
 

Rapid urbanization, initiatives for smart city projects, enhancements in 4G/5G infrastructure, increasing smartphone penetration, and focus on reducing CO2 emissions are the major factors driving the global mobility as a service market.
 

For the unfamiliar, mobility as a service (MaaS) combines different transportation services under one platform, available to consumers in the form of mobile application. MaaS provides real-time information regarding weather and traffic, as well as enable operators to work with automobile manufacturers, local fleet operators, and governmental bodies for smooth functioning.
 

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Adoption of several strategies such as launch of new products and services, by major companies also contribute to the market growth. Citing an instance, BMW Group and Daimler AG invested over USD 1.19 billion in February 2019, for expansion of their mobility service
 

However, high initial cost and limitations on technical knowledge are likely to restrain the growth of global mobility as a service market during the forecast period.
 

Based on application scope, global mobility as a service market is segmented into journey planning, personalized application services, transactions, dynamic journey management, flexible payments, and other. With regards to business model, the industry is bifurcated into peer-to-peer, business-to-business, and business-to-consumer.
 

With respect to organization size, global mobility as a service industry is bifurcated into large enterprises, and small & medium-sized enterprises. Considering the vehicle type, the industry is segmented into air-flights, buses, and cars. Speaking of service type, the industry is bifurcated into self-driving cars, e-hailing, car sharing, pop-up busses, and bike sharing.
 

From a regional frame of reference, global mobility as a service market is segmented into Europe, Asia Pacific, North America, Latin America, and rest of the world. Asia Pacific market is expected to witness significant gains in coming years mainly due to ready adoption of advanced technologies and increasing focus on development of smart cities and 5G infrastructure in the region.
 

Major players influencing the global mobility as a service market trends include Xerox Holdings Corporation, Moovel Group GmBH, OLA (ANI Technologies Pvt. Ltd.), Uber Technologies Inc., Splyt Technologies Ltd., Alliance Corporation, SkedGo Pty Ltd., Transit Systems Pty. Ltd., Lyft Inc., and Beeline.