Asia-Pacific Shared Mobility (Shared, Rental) Markets, 2023-2030: Increasing Traffic Congestion and Pollution to Support Market Growth

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Aug 01, 2023, 12:15 ET

DUBLIN, Aug. 1, 2023 /PRNewswire/ -- The "Asia-Pacific Shared Mobility Market By Service Type (Shared, Rental), By Vehicle Type (Two-Wheeler, Passenger Car, Commercial Vehicles), By Booking Type (Online, Offline), By Commute Type (Inter-City, Intra-City) By Country, Competition, Forecast & Opportunities, 2018- 2030F" report has been added to ResearchAndMarkets.com's offering.

Asia-Pacific Shared Mobility Market is anticipated to grow with a rapid CAGR to 2030

The two main market-driving variables are rising Internet usage and rising investment in applications for shared mobility, with the rise of smart mobility, which is a game-changing method of discovering new ways to commute in a safe, efficient, and environmentally friendly manner. Shared mobility reduces emissions, ownership, and accidents.

The public transportation system has also advanced greatly over the past few decades in terms of travel time, contactless payment, and general effectiveness. Growing market prospects have led to numerous recent advancements in technological start-ups. Market participants are also rapidly devising innovative motorcycle or cab-sharing strategies.

In recent years, shared mobility has developed a particular interest in becoming smarter, as the vehicle is newly introduced with Internet of Things (IoT) Technology. Furthermore, numerous companies have begun to develop smartphone apps to aid in the transition to non-ownership rides. In such a module, the rider can book their journey according to their needs, route, time, and vehicle type without owning or renting the car for that time duration.

The COVID-19 pandemic's lockdown and economic crisis have had a significant influence on many mobility service providers. With the spread of the pandemic, governments around the world introduced social distancing, contact tracing, self-quarantining, testing, and other rules to prevent further spread.

This resulted in a substantial decrease in rides for firms like Uber and Lyft. In May 2020, Uber announced the layoff of 600 employees in India as part of a cost-cutting drive in response to the coronavirus outbreak. Additionally, Lyft announced in April 2020 that it would lay off 982 employees, accounting for 17% of its workforce, due to the Covid-19 Pandemic.

Increasing Traffic Congestion and Pollution to Support the Asia Pacific Market

The increased use of ride-sharing services can be attributed to overcrowding in Asia Pacific public transportation infrastructure. Population growth in nations such as China and India has resulted in overcrowding of transit facilities and an increase in pollution levels.

This has pushed people to use carpooling for their everyday journeys. Furthermore, factors such as lower travel costs and less congestion are increasing the regional market demand.

Increasing Electric mobility

Governments all over the world are enforcing strict emission norms to reduce the rising pollution since conventional automobiles produce significant amounts of carbon emissions.

Therefore, several top mobilities as a service companies are converting their fleet to electric to provide sustainable future mobility solutions for the urban population in order to cut carbon emissions and grow their business in economies with strict emission regulations. Uber Technologies Inc. stated in September 2020 that all its rides in the United States will be in electric vehicles by the year 2040. Blu Smart Mobility's all-electric cab ride-sharing service stands out.

With Blusmart mobility, you can travel faster and more efficiently, As The company has effectively reduced 3350 tonnes of CO2 emissions, conducted 1410,000 electric rides, and traveled 51 million kilometers on sustainable energy. Many BluSmart cab riders have stated that the environmentally responsible nature of the ride enhances their overall experience.

Growing Demand for Shared Mobility

Micromobility is predicted to represent the future of shared transportation, particularly in underdeveloped countries. Micro-mobility refers to the use of light vehicles, such as bicycles and scooters, for short distances. Consumers' increased interest in micro-mobility has spawned vital manufacturers in micro-mobility transportation, such as Daimler and MW.

Taxis, passenger vehicles, and charter cars are examples of on-demand services that provide end users with flexibility and features such as real-time feedback, vehicle monitoring, and rating. A plethora of mobile applications make it easy to locate available passenger vehicles and compare fares with neighbors.

Alto, a newly founded startup, began offering ride-sharing services comparable to Uber and Lyft in March 2022. Customers can use their particular smartphone application to call.

Competitive Landscape

Key players are developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the regions to increase their customer outreach.

Company Profiles: Detailed analysis of the major companies

Uber Technologies Inc.
Ola Cabs (ANI Technologies Pvt. Ltd.)
Superhighway Labs Pvt. Ltd
Lyft,Inc
Europcar Mobility group
Grab Holdings Inc
Bolt Technology OU
Easy Mile SAS
Didi Chuxing Technology Co., Ltd
Drivemate Pte Ltd

Report Scope:

Asia-Pacific Shared Mobility Market, By Service Type:

Shared
Rental

Asia-Pacific Shared Mobility Market, By Vehicle Type:

Two-Wheeler
Passenger Car
Commercial Vehicle

Asia-Pacific Shared Mobility Market, By Booking Type:

Online
Offline

Asia-Pacific Shared Mobility Market, By Commute Type:

Inter-City
Intra-City

Asia-Pacific Shared Mobility Market, By Country:

China
Japan
India
Singapore
Thailand
Indonesia
South Korea
Malaysia

For more information about this report visit https://www.researchandmarkets.com/r/q66lnr

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