According to Erie News Now, the U.S. market size for mobility as a service was $38.76 billion in 2017 growing at a CAGR of 36% to 51.8%, with expected growth potential of up to $358.35 billion in 2025.
The most recent figure regarding the U.S. population using the service is 52.5 million to 129 million individuals; however, 105 million is provided as the more accurate figure. These figures are calculated based on the percentages of individuals who have used the service measured against the entire population.
MARKET SIZE – MOBILITY AS A SERVICE IN THE UNITED STATES
According to a report published by Wired, 24.%$ and 43% of the U.S. population has used mobility-as-a-service app to summon a ride. The younger population are leading in the usage of MaaS. Given the percentages, we can determine the total number of individuals in the U.S. population using MaaS. We examined different reports to aggregate the CAGRs provided to estimate the future market size of for mobility-as-a-service. Using the percentages provided and taking the U.S. population as 300 million, we determined the total number of individuals in the U.S. using MaaS as:
Therefore, according to Statista, 17.5% of the U.S. population has used MaaS. So from 17.5% to 43% of the U.S. population has used MaaS with 35% being the more prevalent estimate. To determine the total number of citizens using the service we take the percentages and multiply with the U.S. population to establish the ranges.
- (17.5/100) × 300 = 52.5 million people
- ((43/100 × 300 = 129 million
- (35/100 × 300 = 105,000 million
On the other hand, regarding the market size, the CAGR ranges from 36% to 51.8%. Therefore, it is estimated that the market size for MaaS will grow from $253.16 in 2017 to $358.35 billion in 2025 and $429.3 billion by 2028.
Market Size – Mobility as a Service: Global
In 2018, the global Mobility-as-a-Service (MaaS) market revenue size was $31.96 billion, from $24.1 billion in 2017. The MaaS global market is expected to grow by 32.6% yearly until 2025. About 28.59 million vehicles have used or utilized MaaS globally in 2018 and this number is expected to grow at an average of 14% annually. By 2030, about 130 million vehicles are users of MaaS. Below, we presented our findings and methodology.
METHODOLOGY
To determine the revenue size of the global Mobility-as-a-Service (MaaS) market and its total users or the number of units using this service, we searched through various market research reports such as Research And Markets (published by AP News), Orbis Research (published by Reuters), Market Research Future, BIS Research (published by PR Newswire), Deloitte report, BofA Merrill Lynch Global Research, and including statistics from Statista.
MOBILITY-AS-A-SERVICE (MAAS) GLOBAL MARKET SIZE
According to Orbis Research, MaaS market was valued at $24.1 billion in 2017 and is expected to grow year-over-year by 32.6%. By 2025, the market is expected to reach $230.40 billion. We’ve calculated its yearly revenue size by using the given CAGR as shown below.
- 2017: $24.1 billion
- 2018: $24.1 billion * 1.326 = $31.96 billion
- 2019: $31.96 billion * 1.326 = $42.37 billion
- 2020: $42.37 billion * 1.326 = $56.19 billion
- 2021: $56.19 billion * 1.326 = $74.51 billion
- 2022: $74.51 billion * 1.326 = $98.79 billion
- 2023: $98.79 billion * 1.326 = $131.00 billion
- 2024: $131.00 billion * 1.326 = $173.71 billion
- 2025: $230.40 billion
From another study by ReasearchAndMarkets and BIS Research, MaaS market was expected to clock in $1.75 to $1.76 trillion global revenue by 2028. The global key players in this segment include BMW Group, Alliance Corporation, Apple, Xerox Corporation, Lyft, Uber Technologies, MaaS Global, Deutsche Bahn, Daimler, and Communauto. While the global key vendors involved in mobility as a service market include Car2go, Hailo, Bridj, Ola, Ridepal, and Make My Trip.
NUMBER OF CAR UNITS USING MAAS AND ITS MARKET PENETRATION
While we were unable to locate direct statistics for individual number of MaaS users, research released by BofA Merrill Lynch in 2017 revealed that the estimated number of vehicles using MaaS as of 2016 was at 22 million and this number is expected to reach 130 million by 2030 at an average growth rate of 14% annually. By 2030, BofA estimated that 8% of total vehicles on the road globally, mostly cities, will be using MaaS. On the other hand, ResearchAndMarkets predicted that MaaS will penetrate 40% urban mobility by 2028.
Using the provided yearly growth rate of 14%, we’ve calculated the estimated number of vehicles that are using MaaS from 2016 to 2018 and including 2019 to 2025.
- 2016: 22 million vehicles
- 2017: 22 million * 1.14 = 25.08 million
- 2018: 25.08 million * 1.14 = 28.59 million
- 2019: 28.59 million * 1.14 = 32.59 million
- 2020: 32.59 million * 1.14 = 37.16 million
- 2021: 37.16 million * 1.14 = 42.36 million
- 2022: 42.36 million * 1.14 = 48.29 million
- 2023: 48.29 million * 1.14 = 55.05 million
- 2024: 55.05 million * 1.14 = 62.76 million
- 2025: 62.76 million * 1.14 = 71.54 million
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Sources and references:
Quotes
“Younger people are significantly more likely to use mobility as a service”
“That comports, mostly, with other surveys conducted in the past year about Uber and Lyft ridership, which have found that between 24.4 and 43 percent of the US population has used apps to summon rides.”
Quotes
“Mobility as a service market is expected to grow to US$ 358.35 billion by 2025 from US$ 38.76 billion in 2017”
Global Mobility as a Service Market to Reach $1.75 Trillion by 2028, Reports BIS Research
Quotes
“The CAGR of the mobility as a service 51.8% “
“According to the author, Mohammad Faisal Ahmad, “The increasing penetration of ride-sharing and smartphones in a consumer’s lifestyle is expected to drive the global MaaS market. Also, the ride-sharing segment within the MaaS market is projected to witness an impressive CAGR of 51.8% for the period 2018-2028 and reach $429.3 billion by 2028.””
Quotes
“Mobility as a service market is expected to grow to US$ 358.35 billion by 2025 from US$ 38.76 billion in 2017”
Quotes
“The global mobility as a service market is expecting an excellent 36% CAGR during the forecast period (2017-2023) and reach a valuation of USD 253.16 billion in that time.”
Infographic: Shared Mobility Has Yet to Reach Mainstream Adoption
Quotes
“Just 17.5 percent of the respondents claim to have used a short-distance ride-sharing service (e.g. Uber) in the past 12 months, with long-distance ride-sharing, bike- and car-sharing seeing even lower adoption rates.”
New Mobility Survey Finds Over ⅓ of Americans are Combining Public Transit with Ridesharing
Quotes
“More than one third of our respondents (35%) are now combining ridesharing with public transit to reach a destination on at least an occasional basis, while 7% are combining ridesharing with public transit on at least a weekly basis.”
Quotes
“The global Mobility as a Service (MaaS) market is valued at 24100 million US$ in 2017 and will reach 230400 million US$ by the end of 2025, growing at a CAGR of 32.6% during 2018-2025.”
MaaS & TaaS: On Demand Mobility & Transportation as a Service
Quotes
“We estimate mobility services will grow by an average of 14% per year from 22 million vehicles in 2016 to 130 million by 2030 to represent 8% of total vehicles on the road globally, predominantly in cities.”
Quotes
“The global mobility as a service market is expected to reach $1.76 trillion, estimated to be one-fourth of the total transportation industry by 2028. MaaS market is expected to penetrate over 40% in the urban mobility requirement by 2028.”
Mobility as a Service Market – Global Forecast 2023 | MRFR
Quotes
“The global Mobility as a Service market is expected to reach approximately USD 253.16 billion by 2023 growing with a 36% CAGR over the forecast period 2017-2023.”
Global Mobility as a Service Market to Reach $1.75 Trillion by 2028, Reports BIS Research
Quotes
“According to the author, Mohammad Faisal Ahmad, “The increasing penetration of ride-sharing and smartphones in a consumer’s lifestyle is expected to drive the global MaaS market. Also, the ride-sharing segment within the MaaS market is projected to witness an impressive CAGR of 51.8% for the period 2018-2028 and reach $429.3 billion by 2028.””
Worldwide – mobility services fleet by type 2025 | Statisti
The rise of mobility as a service
Survey: Consumers Would Pay More And Switch Transportation Mode To Get Smart Digital Services
Tags: growth and projected value, MaaS, market penetration, market size, mobility as a service, market size and growth, market research, mobility-as-a-service, MaaS,
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