Mobility on Demand Market Poised to Hit USD 1,694.7 Billion by 2031, Driven by Rising Urbanization and Tech Advancements

Proactive government initiatives for smart cities, increase in venture capital and strategic investment, and adoption of e-bikes.

OREGON, DE, UNITED STATES, March 6, 2025 /EINPresswire.com/ -- As per the report published by Allied Market Research, the global mobility on demand market size generated $552.9 billion in 2021, and is expected to reach $1,694.7 billion by 2031, growing at a CAGR of 11.8% from 2022 to 2031.

🔰 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/3123

The report provides an in-depth analysis of top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.

The concept of mobility on demand is typically attributed to the transportation options that are accessed conveniently, on-demand, or in real time, at an individual's leisure when they request it. Mobility on Demand is achieved through a combination of private and public transportation assets and technologies, working together to allow commuters a customized way to travel with the aid of new software solutions. The technology can decongest urban transit systems while creating opportunities in rural areas where traditional mobility services are inadequate. Currently, various mobility on demand market players operating in the business are collaborating with automobile manufacturers to expand their taxi fleet of electric cars for mobility sharing or renting purposes.

For instance, in February 2022, The Hertz Corporation partnered with UFODRIVE, a self-service electric vehicle rental company and eMobility service provider in Europe. This partnership allowed Hertz to grow its fleet of electric vehicles and offer the best rental and recharging experience for leisure and business customers worldwide.

🔰 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/3123

𝐓𝐡𝐞 𝐥𝐞𝐚𝐝𝐢𝐧𝐠 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐦𝐨𝐛𝐢𝐥𝐢𝐭𝐲 𝐨𝐧 𝐝𝐞𝐦𝐚𝐧𝐝 𝐦𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞

Aptiv, BMW AG, Cabify España S.L.U., Car2go NA, LLC, Cityscoot, Europcar Mobility Group, Ford Motor Company, General Motors, Gett, The Hertz Corporation, Intel Corporation, IBM, Lyft, Inc., Robert Bosch GmbH, Toyota Motor Corporation, Uber Technologies Inc., and Yulu Bikes Pvt Ltd.

𝐓𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐦𝐨𝐛𝐢𝐥𝐢𝐭𝐲 𝐨𝐧 𝐝𝐞𝐦𝐚𝐧𝐝 𝐦𝐚𝐫𝐤𝐞𝐭 𝐨𝐧 𝐭𝐡𝐞 𝐛𝐚𝐬𝐢𝐬 𝐨𝐟 𝐭𝐲𝐩𝐞, 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐭𝐲𝐩𝐞, 𝐩𝐫𝐨𝐩𝐮𝐥𝐬𝐢𝐨𝐧 𝐭𝐲𝐩𝐞, 𝐛𝐨𝐨𝐤𝐢𝐧𝐠 𝐭𝐲𝐩𝐞, 𝐜𝐨𝐦𝐦𝐮𝐭𝐞 𝐭𝐲𝐩𝐞, 𝐚𝐧𝐝 𝐫𝐞𝐠𝐢𝐨𝐧.

Based on type, the sharing segment held the largest share in 2021, accounting for more than three-fourths of the market. However, the renting segment is estimated to register the highest CAGR of 13.4% during the forecast period.

On the basis of vehicle type, the buses and rails segment dominated the market in terms of revenue in 2021, contributing to nearly half of the market. However, the two-wheelers segment is projected to portray the highest CAGR of 16.1% from 2022 to 2031.

Based on propulsion type, the ICE segment held the largest share in 2021, accounting for nearly four-fifths of the market, and is expected to continue its dominance during the forecast period. However, the electric and others segment is expected to register the highest CAGR of 14.7% during the forecast period.

The factors such as proactive government initiatives for smart cities, rise in venture capital and strategic investments, and adoption of e-bikes in the sharing fleet supplement the growth of the mobility on demand market. However, low rate of internet penetration in developing regions and resistance from local transport services, coupled with varying government regulations in different countries are the factors expected to hamper the growth of the market. In addition, emergence of eco-friendly electric cab services and adoption of car rental management software creates market opportunities for the key players operating in the mobility on demand market.

On the basis of booking type, the online segment held the largest share in 2021, contributing to nearly two-thirds of the market. In addition, the segment is projected to register the highest CAGR of 12.6% during the forecast period.

Based on commute type, the intercity segment dominated the market in 2021, accounting for more than three-fifths of the market. Moreover, the segment is expected to showcase the highest CAGR of 12.6% from 2022 to 2031.

🔰 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/mobility-on-demand-market/purchase-options

The global mobility on demand market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2021, accounting for nearly two-fifths of the market. However, the market across LAMEA is expected to register the highest CAGR of 15.1% from 2022 to 2031.

In addition, the mobility on demand market has witnessed significant growth in recent years, owing to the emergence of technologies such as Mobility-as-a-Service (MaaS), electric vehicles, and autonomous cars. Also, shifting consumer preferences from car ownership to flexible & affordable transportation solutions is propelling the adoption of car-sharing services in the market. Furthermore, the companies operating in the market have adopted partnerships, acquisitions, and product launches to increase their market share and expand their geographical presence. For instance, in March 2021, Europcar Mobility Group announced the launch of a new range of subscriptions for renting out vehicles for business companies. These subscription packages were named “Flex”, “Superflex” and “DuoFlex”. These packages allowed them to expand their vehicle rental services to businesses, thereby increasing their revenues.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 -

https://www.alliedmarketresearch.com/shared-mobility-market-A10179 - Shared Mobility Market Size, Share, Competitive Landscape and Trend Analysis Report, by Service Model, by Vehicle Type, by Vehicle Propulsion, by Sales Channel : Global Opportunity Analysis and Industry Forecast, 2021-2031

https://www.alliedmarketresearch.com/smart-mobility-market-A06658 - Smart Mobility Market Size, Share, Competitive Landscape and Trend Analysis Report, by Element, Solution and Technology : Global Opportunity Analysis and Industry Forecast, 2020-2027

𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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Allied Market Research
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