What is Individual Mobility Services Market?
Individual mobility functions as a bridge between public and private transportation. The growing technological advancements and digitalization has open new era in the mobility service as it enables people to book or hire car, bikes, and auto for door to door transportation through the mobile applications. In today’s time, many people are using car or bike hailing and sharing services for day to say transportations and to travel out of stations.
The market study is being classified and major geographies with country level break-up.
Uber Technologies, Inc. (United States), Ola Cabs (India), Lyft, Inc. (United States), Hyundai Motor Group (South Korea), Bla Bla Car (France), Meru Cabs (India), Didi Chuxing (United States), Grab Holdings Inc. (Singapore), Cabify (Spain), Careem (United Arab Emirates) and General Motors (United States) are some of the key players profiled in the study.
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new mobility solutions, which is likely to encourage the growth of the global market throughout the forecast period. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Individual Mobility Services market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Individual Mobility Services market by Type, Application and Region.
On the basis of geography, the market of Individual Mobility Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Demand Mobility Services in Urban Areas and Metropolitan Areas for Quick and Comfortable Transportation
- Increasing Disposable Income Led to Adopt Car sharing and Hailing Services
- Evolution of Autonomous Vehicles and Integration of AI & Deep Learning Technologies in Transportation
- Government Regulations to Reduce Pollution and Initiative to Promote Public Transportation Service
- Increased Migration Rate of People from Rural Areas to Urban Area
- Increasing Adoption of Individual Mobility Service Due to Covid-19 Pandemic to Avoid Public Transportation
- High Rate of Transportation Compared to Public Transportation
Market Leaders and some development strategies
In April 2021, Toyota bought Lyft’s self-driving technology unit to boost its self-driving plans in the US. Lyft is the largest public self-driving commercial platform in the US. This will give Toyota a direct presence in Silicon Valley and London and expand smart-city project "Woven City" at the base of Japan's Mt. Fuji.
In February 2020, Mobility company redBus launched its car and bike pooling service in Delhi to provide better transportation options to professional and daily office goers. It enables people to avail and offer rides in their personal cars and bikes while commuting to and from the office. However, in order to compete with Ola and Uber, the company has fixed the prices at a maximum of Rs 5 per km for carpooling and Rs 4 per km for bike pooling, and female ride givers will only get female ride takers.
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Individual Mobility Services Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and Others
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Individual Mobility Services Market?
"Increasing Demand Mobility Services in Urban Areas and Metropolitan Areas for Quick and Comfortable Transportation
" is seen as one of major growth factors of Individual Mobility Services Market in years to come.
2. Can we have customized study for Individual Mobility Services Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Individual Mobility Services Market?
will lead the Individual Mobility Services Market.