Increasing Micro-mobility Adoption To Drive Global Shared & Autonomous Mobility Industry

Mobility Outlook Bureau
13 May 2021
01:02 PM
1 Min Read

Fueled by the eHailing segment, the global shared and autonomous mobility industry's global gross market value (GMV) is expected to reach $ 608.86 billion by the end of 2021 from $305.92 billion in 2020, states Frost & Sullivan's recent analysis.


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Fueled by the eHailing segment, the global shared and autonomous mobility industry's global gross market value (GMV) is expected to reach $ 608.86 billion by the end of 2021 from $305.92 billion in 2020, states Frost & Sullivan's recent analysis. 

The GVM includes ride-hailing, ridesharing, corporate, peer-to-peer (P2P) and traditional car-sharing, mobility-as-a-service (MaaS), and bike-sharing. It will be driven by consumers' increasing focus on safety and mobility companies' renewed strategies toward micro-mobility adoption and their continual emphasis on carbon neutrality.

According to Geraldine Priya, Team Leader, Mobility at Frost & Sullivan, 'Bike-sharing is emerging as a resilient transportation mode in cities and can better cater to sudden shifts in supply and demand. As a result, cities are actively promoting bike-sharing by offering funding and expanding the cycling infrastructure.' 

Last-mile delivery is emerging as a steady revenue stream for the shared mobility market. Industry players can further leverage this to shift to passenger and goods delivery. As the shift toward MaaS and expansion of mobility operators to offer multimodality are taking centre stage, technology companies are deepening roots in the automotive industry ecosystem as future mobility key enablers. Technology giants and volume original equipment manufacturers (OEMs) are showing renewed interest in the shared mobility market. Big Data and AI are projected to substantially enhance operational and cost efficiencies in shared mobility solutions deployment. Additionally, the OEM approach toward future mobility products and services will rely on the capability to offer fully connected, automated, and digital experiences over the next 5–8 years, Priya added.

Growth prospects

In order to resume shared mobility demand and addressing post-COVID-19 security measures, market participants should focus on improving health and safety features, especially in services across shared mobility business models, such as car-sharing, P2P car-sharing, and demand-responsive transit (DRT).

For business model diversification and geographic expansions underpinning medium-term growth of mobility models, the shared mobility operators, instead of focusing primarily on delivery, should look to diversify into other streams, like applying mobility business models to finance and payments.

Public-private partnerships between technology companies, OEMs, and public agencies are expected to create strategies for developing and deploying autonomous mobility services jointly, the report said.

NB: Photo is representational.

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