The global shared mobility market size is projected to reach USD 619.51 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 25.1% during the forecast period. Growing use of smartphones and connected vehicles, along with an elevated problem of traffic congestion in prominent cities worldwide, is anticipated to drive the market. Increasing fuel costs are impelling individuals to shift towards alternative transportation solutions, further escalating the growth of the market during the forecast period.
Reluctance
towards sharing personal vehicle with strangers in ride sharing is
one of the major factors challenging market growth. Furthermore, high costs of
developing internet infrastructure in some low-income countries and substandard
connectivity are inhibiting the upward rise of the market.
Proliferation
of internet-based technologies, mass marketing of connected vehicles, and
burgeoning popularity of intelligent transportation systems (ITS) are prominent
technological breakthroughs that are estimated to positively influence the growth
of the market. Web-integrated services offer advanced features, such as V2V,
V2X, and V2I communication, for vehicles. Moreover, availability of real-time
information pertaining to parking and congestion is expected to further augment
the shared mobility market over the coming years.
Full Research Report On Shared Mobility Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/shared-mobility-market
Further key
findings from the report suggest:
- Introduction
of shared mobility services availed through electric vehicles is one of
the key growth opportunities for industry players. Electric car sharing is
a popular trend in developed countries of Europe and is likely to shape
the future of the regional market over the coming years
- The
ride-hailing segment is poised to account for the highest revenue share of
more than 52.0% by 2025. Growing penetration of internet across the globe
and introduction of new services by ride hailing companies are projected
to supplement the growth of the segment
- Bike sharing
is anticipated to be the most promising service model segment, registering
a CAGR of over 29.0% from 2018 to 2025, owing to increasing number of
bike-sharing programs, especially in matured economies worldwide
- Asia Pacific
is estimated to dominate the market throughout the forecast horizon owing
to high adoption rate of ride-hailing and car-sharing services in densely
populated countries such as China.
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https://www.grandviewresearch.com/industry-analysis/shared-mobility-market/request/rs1
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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