According to a new market research report published by sheer analytics and insights, “Europe Mobility as a Service (MAAS) Market was $14.3 Bn in 2020, and it is expected to reach $413.2 Bn by 2031”. It is expected to grow at commendable compound annual growth rate (CAGR) of 35.7% between 2021-2031.
Europe is one of the most visited regions for tourism purposes. In the past few years, ‘Mobility as a Service’ helped many tourists get an idea of the travelling expenses and lodging budgets. It is estimated that more than 30 companies are operating in this space, and the market is dominated mainly by local players in each country. End user vehicle providers to customers is mainly covered in this report.
COVID had negatively impacted the market in 2020 due to travel restrictions and international footfall in Europe during the pandemic. France, Italy, and U.K. were majorly get impacted in 2020. But the countries are expected to recover by the end of 2022, and the market is expected to grow at a commendable growth rate from mid of 2021.
After implementing GDPR rules in the European Union on 25 May 2018, data handling about the traveler’s identity has boosted. In this space, companies, whether local or international, integrate many security-based technologies for making the data secure for Europeans and visitors coming to Europe either for study, job, or to explore. Blockchain is one of the emerging technologies which service providers towards data security improvement are implementing.
As per the experts, people prefer to have their vehicle in the past but increased fueled prices and the expectation of fuel shortage in Europe by 2035 increased the demand of ‘Mobility as a Services’ in the past few years and have long term impact positively.
Some of the other key factors supporting the growth of mobility as a service in Europe are:
In term of services type, Ride-hailing is of the most popular services trending in Europe. Through this, one can customize their requirements and order the vehicle they need for their usage with the driver. This type of booking is applicable for the customers who want to ride in a group or couple and save money due to discounts given by providers. According to our primary correspondents, travelers in Europe get discounts in the range of 10 to 20% through this service compared with a single person booking.
According to our study, key players in the Europe Mobility as a Service (MAAS) Market include Moovel, Immense, Lilium, Faxi, Cargonexx, Cocolis, MaaS Global, Truck, UBER, Free Now, GETT, Cabify, G7, Omio, FlixBus among others.
The Europe Mobility as a Service (MAAS) Market Has Been Segmented into:
Europe Mobility as a Service (MAAS): By Service Type
Europe Mobility as a Service (MAAS): Application Platform Traction
Europe Mobility as a Service (MAAS): Business Model
Europe Mobility as a Service (MAAS): Vehicle Type
Europe Mobility as a Service (MAAS): By Payment Services
Europe Mobility as a Service (MAAS): By Country
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