Summary
- Mobility in 2024 is achieved in a variety of ways, including Mobility as a Service (MaaS) via ridesharing, ride-hailing, and rent-per-use options
- The market value of MaaS is not to be underestimated as it was $678.1 billion in 2023, and is expected to breach $1 trillion in 2027
- This has had a direct effect on automakers, as many family cars and smaller SUVs have had their rear leg room and comfort increased specifically as a response to ride-hailing, and small cars are now being designed with ridesharing partially in mind
- Because more people are sharing rides and even not owning their own vehicles, it has had a positive effect on easing congestion as well as reducing the environmental impact of mass traffic
- The biggest leap in the future will be autonomously driven vehicles, but we think for now that MaaS as it stands is excellent for heavily urbanized areas and makes sense, especially for those that live in dense cities like New York City and don’t need/want to own their own vehicle
The landscape of global transportation is undergoing a marked shift in how consumers interact with it. It started with public transportation improvements in cities that could support the need for it such as New York City in the USA and London in the UK, but in the late 2010s and early 2020s, the new shift is towards Mobility as a Service (MaaS). This model, underpinned by digital platforms and apps, is redefining traditional vehicle ownership and usage patterns.
By offering an veritable smorgasbord of transportation services, including car-sharing, ride-hailing, rent-per-use, and more, MaaS presents a unified, efficient, and eco-friendly alternative to traditional vehicle ownership.
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