Shared Mobility Market Size & Share, By Service Model (Ride Hailing, Bike Sharing, Ride Sharing, Car Sharing), Channel, Vehicle (Cars, Two-wheelers), Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

Shared Mobility Market was over USD 262.92 Billion in 2023 and is set to surpass USD 742.9 Billion by end of the year 2032, witnessing more than 15.1% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 262.92 Billion
• CAGR (2024-2032): 15.1%
• Forecast Year Value (2032): USD 742.9 Billion
• Historical Data Period: 2019-2023
• Largest Region: Asia Pacific
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

The increasing focus on reducing traffic congestion and carbon emissions is driving the growth of the shared mobility market. Governments around the world are implementing policies to promote shared mobility as a sustainable transportation option.

The growing urban population and increasing smartphone penetration are also contributing to the growth of the shared mobility market. Consumers are looking for convenient and cost-effective transportation solutions, and shared mobility services offer a convenient alternative to owning a car.

The rise of on-demand transportation services and advancements in technology, such as ride-hailing apps and electric vehicles, are further driving the growth of the shared mobility market. These innovations are making shared mobility more accessible and appealing to a wider range of consumers.

Report Scope

Report Coverage	Details
Segments Covered	Service Model, Channel, Vehicle
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Car2Go, Deutsche Bahn Connect, DiDi Chuxing, DriveNow, EvCard, Flinkster, Grab Holdings Limited, GreenGro, Lyft, Toyota Motor, Docomo Bike Share, Meitetsu Kyosho Co.., Nissan Rental Solution Co.., Earthcar Co.., Times Mobility Co.., Orix, Tembici, BlaBlaCar, Uber Technologies, Picap, Cabify Espana S.L.U., 99Taxi, Zipcar

Industry Restraints:

Despite the growth opportunities, regulatory hurdles and challenges related to infrastructure and profitability are major restraints for the shared mobility market. Uncertain regulatory environments and stringent regulations can hinder the growth of shared mobility services in certain regions.

The lack of last-mile connectivity and limited infrastructure for shared mobility services are also significant restraints for the market. Inadequate charging stations for electric vehicles, lack of designated pick-up and drop-off points, and poor road conditions can impact the user experience and limit the adoption of shared mobility services.

Regional Forecast:

North America:

The shared mobility market in North America, particularly in the United States and Canada, has experienced significant growth in recent years. The rise of ride-sharing services like Uber and Lyft has transformed the transportation industry, offering consumers a convenient and cost-effective alternative to traditional car ownership. In addition, the increased focus on sustainability and environmental consciousness has spurred the adoption of shared modes of transportation. The regulatory environment in North America has been relatively favorable towards shared mobility services, further contributing to the market growth.

Asia Pacific:

In Asia Pacific, countries like China, Japan, and South Korea have seen a rapid expansion of shared mobility services. In China, for example, ride-sharing companies like Didi Chuxing have gained significant market share, providing millions of users with a convenient and affordable transportation option. Japan has also seen a rise in shared mobility services, with companies like Grab and Gojek becoming increasingly popular among commuters. South Korea, on the other hand, has a strong presence of car-sharing services like SoCar and Green Car, catering to the growing demand for flexible transportation solutions in urban areas.

Europe:

In Europe, countries like the United Kingdom, Germany, and France have embraced shared mobility services as a means to combat congestion and air pollution in major cities. London, for instance, has seen a proliferation of bike-sharing schemes and electric scooter rentals, offering residents and tourists a convenient way to get around the city. Germany has also seen a surge in car-sharing services like Car2Go and DriveNow, providing users with a sustainable alternative to traditional car ownership. Similarly, France has witnessed the success of bike-sharing programs like Velib, which have become an integral part of the urban transportation system in cities like Paris.

Segmentation Analysis:

In terms of segmentation, the global shared mobility market is analyzed on the basis of Service Model, Channel, Vehicle

Shared Mobility Market

The shared mobility market is experiencing significant growth worldwide, driven by various service models such as ride hailing, bike sharing, ride sharing, and car sharing. These service models offer convenient and cost-effective transportation options for consumers, leading to increased adoption and utilization.

Ride Hailing

Ride hailing services have become increasingly popular, especially in urban areas where consumers seek on-demand transport options. Companies like Uber and Lyft have dominated the ride hailing segment, offering users the ability to book a ride through mobile apps and pay electronically. This service model is ideal for short-distance trips and is favored for its convenience and accessibility.

Bike Sharing

Bike sharing programs have gained traction in recent years, providing users with an alternative and eco-friendly mode of transportation. These services allow users to rent bicycles for short periods, typically for short-distance commutes or leisure rides. Bike sharing programs are particularly popular in cities with bike-friendly infrastructure and are favored for their sustainability benefits.

Ride Sharing

Ride sharing services enable users to share rides with others heading in the same direction, allowing for cost-sharing and reduced environmental impact. Platforms like BlaBlaCar and Carpooling.com have revolutionized the ride sharing segment, offering users a way to save money on transportation costs while promoting social interactions and community building.

Car Sharing

Car sharing services provide users with access to vehicles on a short-term basis, typically for a few hours or days. Companies like Zipcar and Turo have disrupted the traditional car rental industry, offering users flexibility and convenience without the burden of ownership. Car sharing services are favored for their affordability and convenience, particularly in urban areas where car ownership is prohibitively expensive.

Competitive Landscape:

Top Market Players:

1. Uber

2. Lyft

3. DiDi Chuxing

4. Grab

5. Lime

6. Ola

7. Bird

8. Zipcar

9. Gett

10. Mobike

The competitive landscape in the Shared Mobility Market is heavily populated with major players offering various transportation services such as ride-hailing, bike-sharing, carpooling, and scooter-sharing. These companies are constantly innovating and expanding their services to gain a larger market share and stay ahead of the competition.