The growing technological advancements in automotive sector has facilitated delivery of economic and high quality mobility services thus boosting the growth of mobility as a service (MaaS) market in Asia Pacific. The growing digitalization has transformed the lifestyle of humans and thus their needs and expectations. Smartphones and internet has penetrated remote corners of Asia empowering high number of people to utilize digital apps for availing mobility services. As per the statistics published in United Nations Educational, Scientific and Cultural Organization’s (UNESCO) report released in 2016, Asian countries such as China and India are among the highest internet users with 22% of global internet users in China alone. These figures have added up to the people having access to mobility services in Asia Pacific region. Along with this, technological developments in automotive sector such as Internet of Things (IoT), connected cars, electric vehicles and others have contributed towards fast pacing of MaaS market growth. IoT has enabled automotive players to deploy smart and connected capabilities to the car enabling accurate locating, tracking and trip planning in mobility services. The ofo bike sharing company of China partnered with Huawei and China Telecom in 2017 to deploy Narrowband-IoT (NB-IoT) and smart IoT based locks on their bikes. Another Chinese company Zhejiang Geely Holding Group has planned to launch their two IoT satellites in 2020 which will enable high precision positioning for vehicles assisting ride-hailing and ride-sharing management. Thus, the growing adoption of digitization and recent advances in automobile systems has propelled the growth of mobility as a service (MaaS) market in Asia Pacific region.
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Autonomous vehicles are transforming the mobility services by eliminating drivers, the most expensive part of a ride, which accounts for more than 75% of the total fare collected from a rider. All major ride sharing companies across the Asia Pacific region are heavily investing for adopting autonomous driving cars in their fleet. For instance, in August 2018 Toyota Motor Corporation announced an investment of US$ 500 million in Uber to accelerate their driverless ride-sharing project. Toyota and Uber have collaborated to built autonomous cars based on Sienna minivan model of Toyota and the same is planned to be deployed on the Uber’s ride sharing platform by 2021. The autonomous cars are poised to tackle the current COVID-19 situation by restricting the spread of coronavirus through elimination of human contact in the form of drivers. Thus, the technological benefits of autonomous vehicles to offer cheaper rides and provide contact less services is anticipated to drive the mobility as a service (MaaS) market in Asia Pacific region over forecast period.
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In terms of revenue, Asia Pacific mobility as a service (MaaS) market was valued at US$ 115,122.9 Mn in 2018 and is anticipated to grow at a CAGR of 8.5% over the forecast period and reach US$ 238,448.8 Mn by 2027. The study analyses the market in terms of revenue across all the major countries.
The detailed research study provides qualitative and quantitative analysis of mobility as a service (MaaS) market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across Asia Pacific including China, Japan, India, New Zealand, Australia, South Korea, Indonesia, Thailand, Malaysia, Singapore, Vietnam, Philippines and rest of Asia Pacific
Key Findings of the Report:
- The Asia Pacific mobility as a service (MaaS) market was valued at US$ 115,122.9 Mn in 2018 and is anticipated to grow at a CAGR of 8.5% over the forecast period owing to transforming mobility requirements.
- High number of motorbikes in the Asia Pacific and regional inclination of Asian people towards economic solutions is anticipated to drive the growth of bike sharing in Asia Pacific mobility as a service (MaaS) market over forecast years.
- China held the highest of Asia Pacific mobility as a service (MaaS) market in 2018 owing to government initiatives for tackling car ownership by urban population.
- Some of the players operating in the mobility as a service (MaaS) market are ANI Technologies Pvt. Ltd, Beijing Xiaoju Technology Co, Ltd., Citymapper, Grab Holdings Inc., Japan Taxi Co.,Ltd, MaaS Global Oy, MERU, Moovit Inc., oBike, PT Aplikasi Karya Anak Bangsa (brand Gojek) and Uber Technologies Inc. amongst others.
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Asia Pacific Mobility as a Service (MaaS) Market:
- By Type of Service
- Self-driving Car Service
- Car Sharing
- Bike Sharing
- By Application Platform
- By End User
- Private Firms
- Start ups
- By Countries
- New Zealand
- South Korea
- Rest of Asia Pacific
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