Mobility-as-a-Service is emerging as a complex network of urban mobility system that is based on the data collected from cities. The rapid expansion of this sector has led to an exponential increase in the overall revenue - from approximately $61 million in 2018 to an estimated $36 billion in 2030. More than 20 cities around the world have adopted this service.
By 2030, China is supposed to show the largest growth rate with a CAGR of 109 %, while North America is estimated to have a revenue inflow of about $9 billion.
Mobility’s Swetha Surender is of the opinion that technological innovations will introduce lots of great mobility solutions. Systems like cryptocurrency and smart contracts can open up new sources of revenue for operators. MaaS will attract more investments with its multiple use cases, including first and last-mile connectivity issues and fusing the public transit and payment systems into one application.
In this regard, Frost And Sullivan has conducted a recent study titled Global Mobility as a service market- Forecast by 2030, which examines and analyses all the recent trends in the market of mobility as a service. A comparative study of all the different service providers and observes their solutions. The sections covered in the analysis include B2C, business to government and B2B in areas across North America, the Asia Pacific, Latin America and Africa.
The e-hail and demand response transit (DRT) sections are predicted to account for a significant share of the revenue that to be collected. Solutions like biometric technology and so on- that transgress the boundaries of passenger service to create customised experiences for consumers, along with automated or semi-automated features that the driver can operate according to their will also bring major benefits to the MaaS providers.
As the revenue faces potential growth, there are ways in which zones like North America and the EU can increase their already growing revenue rate. Below stated are some of the solutions that they can implement:
By including elements like delivery services and environmental activities, the revenue income can be expanded into various other areas.
By increasing the inclusion of independent vehicles into a co-operative collection of other vehicles. Companies with access to Artificial intelligence should also tap into the growing advancements that are taking place in these areas to improve their revenue.
By joining forces with both public and private transport providers to keep the option of a public transit ticket with the option of payment.
By investing in a feature known as the Blockchain connectivity to ensure that the distribution of MaaS continues uninterrupted.
Currently, the revenue from operators is supposed to see the largest growth from providers in Latin America, at 132%. This will be closely followed by the Asia Pacific at 111.3%. Other behemoths such as North America is estimated to grow at 64%, and the EU at 54%. Africa too is demonstrating a potentially steady growth at 70%, especially in the CAGR sector.
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