Global B2C Mobility Sharing Market Projected to Surpass USD 99 Billion by 2026

30-Apr-2021 | Facts and Factors

According to a recent study published by Facts and Factors, the global B2C Mobility Sharing market was valued at USD 35 billion in 2020 and is expected to hit USD 99 billion by 2026, with a CAGR of about 30% between 2021 and 2026.

Vehicle sharing, ride-hailing, and ride-sourcing are examples of B2C mobility sharing services that are provided directly to consumers by the service provider. The service providers own the vehicles used in this service. The amount of time or distance traveled determines the services provided. Sharing mobility is a new transportation trend that has proven to be effective in increasing average vehicle occupancy and reducing the number of vehicles needed to transport multiple passengers. The shared mobility market has a huge potential to grow over the forecast period of 2021 to 2026, owing to rapidly increasing automotive sales. Furthermore, rising connected vehicle and smartphone penetration, as well as rising on-road vehicle traffic and fuel costs, are all having an impact on the growth of the shared mobility market. Another factor driving the growth of the shared mobility market is the high per capita income as well as the rising cost of vehicle ownership, which is driving people to seek alternative transportation solutions. In Business-to-Consumer (B2C) service models, providers typically own/lease and maintain several vehicles, and users pay membership and/or usage fees to access these vehicles.

Request Sample Request Customization Buy Now

Top Market Players

Major players in the market are are Uber Technologies Inc., ANI Technologies Pvt. Ltd. (OLA), Lyft, Inc., Grab, Careem, Taxify OÜ, Beijing Xiaoju Technology Co, Ltd. (Didi Chuxing), Cabify, Europcar, The Hertz Corporation, Avis Budget Group, Inc., and Enterprise Holdings, Inc

Increasing Urbanization and Penetration of Technology is Driving the Growth of B2C Mobility Sharing Market

Cities in Europe, North and Latin America house more than 70% of the population. The social costs of urbanization have risen, including environmental degradation, traffic congestion, and accidents, all of which are immediate and pressing issues. Technology is critical for both providing safe and sustainable transportation for millions of people sharing limited space and ensuring supply chain resilience. Residents' mobility has increased as cities have grown more densely populated. The high cost of living in cities, combined with the need for quick, flexible, and cost-effective mobility, has created an urgent need. As a result, B2C mobility sharing players meet this requirement. Traditional mobility was dominated by personal vehicles and public transportation, with only a small portion of the market available for sharing. However, with the increased use of smartphones and the emergence of platform-based businesses, the market for mobility services has changed, ushering in a new concept of Mobility as a Service (MaaS). Mobility-as-a-Service (MaaS) is an evolving concept that describes how consumers and businesses are shifting away from vehicle ownership and toward service-based transportation. In this sense, MaaS includes multi-modal transportation mode aggregation as well as on-demand mobility. This business innovation has increased the convenience of consumers and altered their choices, as an increasing number of consumers prefer not to own vehicles. This trend has also compelled global finance to invest in the market opportunity of B2C shared mobility business, resulting in the emergence of numerous market players catering to consumer needs. Governments all over the world are pledging to support the sharing infrastructure. Helsinki, Finland, is an example of a city that is at the vanguard of the transition to shared mobility. By 2025, Helsinki has set an ambitious goal of replacing private vehicles with shared mobility, integrating all shared and public transportation into a single linked network with easy payment via digital platforms. Many cities around the world lack adequate public transportation infrastructure and services, which limits their use. In addition, cities lack non-motorized transportation infrastructure, which may limit the adoption of bike/cycle sharing schemes.

APAC is projected To Dominate the Global B2C Mobility Sharing Market

APAC is also experiencing tremendous growth potential for shared mobility as a result of the region's high economic growth, rising population standards of living, and increasing urbanization. India's demand for mobility is growing in response to rising GDP, rapid urbanization, and urban sprawl. Between now and 2030, India's passenger kilometer traveled (PKT) is expected to nearly 14 times increase, rising from 1400 billion passenger kilometers (BPKM) to 18,750 BPKM. While India is expected to be a global leader in shared mobility, several obstacles must be overcome before solutions and services can be promoted. Infrastructure and services, policy and regulatory, behavioral, and data are the four major barriers to increasing shared mobility in India. There are five regions in the global B2C mobility sharing market. Ride-hailing services are becoming increasingly popular around the world, owing to their effectiveness in reducing the number of vehicles on the road, resulting in less pollution and traffic congestion. Several countries in North America and Europe are experiencing significant traffic congestion, which results in significant greenhouse gas emissions, leading to an increase in global temperature. As a result, governing bodies are emphasizing shared mobility services, particularly ride-sharing services, which have been shown to reduce pollution.

Browse the full “B2C Mobility Sharing Market, By Service Model (Car Sharing, Bike Sharing, Scooter Sharing, Ride-Hailing, And Others) By Vehicle Type (Cars, Two Wheelers, And Others), By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” report at https://www.fnfresearch.com/b2c-mobility-sharing-market.

Report Scope

Report Attribute

Details

Market Size in 2020

USD 35 Billion

Projected Market Size in 2026

USD 99 Billion

CAGR Growth Rate

30% CAGR

Base Year

2020

Forecast Years

2021-2026

Key Market Players

Uber Technologies Inc., ANI Technologies Pvt. Ltd. (OLA), Lyft, Inc., Grab, Careem, Taxify OÜ, Beijing Xiaoju Technology Co, Ltd. (Didi Chuxing), Cabify, Europcar, The Hertz Corporation, Avis Budget Group, Inc., and Enterprise Holdings, Inc

Key Segment

By Service Model, By Vehicle Model, By Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

Request customized purchase options to meet your research needs. Explore purchase options

The Global B2C Mobility Sharing market is segmented as follows:

By Service Model:

  • Car Sharing
  • Bike Sharing
  • Scooter Sharing
  • Ride-Hailing
  • Others

By Vehicle Model:

  • Cars,
  • Two Wheelers
  • Others

By Region:

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:
Facts & Factors

A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1 (347) 690-0211
Email: [email protected]
Web: https://www.fnfresearch.com


Latest Market Research Reports

report img

Call Center AI Market Report 2024 – 2032

[213+ Pages Report] According to Facts Factors, the global call center AI market size was valued at USD 1.70 billion in 2023 and is predicted to surpass USD 11.19 billion by the end of 2032. The call center AI industry is expected to grow by a CAGR of 23.28% between 2024 and 2032. Call Center AI Ma

Published Date : 13-Nov-2024 | | Category : Technology & Media | Pages : 213 | Format : Read more

Inquiry for Buying Request Sample
report img

Personalized Nutrition Market Report 2024 – 2032

[221+ Pages Report] According to Facts Factors,the global personalized nutrition market size was valued at USD 13.35 billion in 2023 and is predicted to surpass USD 46.31 billion by the end of 2032. The personalized nutrition industry is expected to grow by a CAGR of 14.82% between 2024 and 2032. P

Published Date : 11-Nov-2024 | | Category : Healthcare | Pages : 221 | Format : Read more

Inquiry for Buying Request Sample
report img

Sleep Tech Devices Market Report 2024 – 2032

[218+ Pages Report] According to Facts Factors, the global sleep tech devices market size was valued at USD 20.68 billion in 2023 and is predicted to surpass USD 83.79 billion by the end of 2032. The sleep tech devices industry is expected to grow by a CAGR of 16.82% between 2024 and 2032. Sleep Te

Published Date : 08-Nov-2024 | | Category : Technology & Media | Pages : 218 | Format : Read more

Inquiry for Buying Request Sample
report img

Vertical Farming Market Report 2024 – 2032

[221+ Pages Report] According to Facts Factors, the global vertical farming market size was valued at USD 8.82 billion in 2023 and is predicted to surpass USD 26.85 billion by the end of 2032. The vertical farming industry is expected to grow by a CAGR of 15.20% between 2024 and 2032. Vertical Farm

Published Date : 21-Oct-2024 | | Category : Heavy Industry | Pages : 221 | Format : Read more

Inquiry for Buying Request Sample
report img

Supply Chain Management Market Report 2024 – 2032

[218+ Pages Report] According to Facts Factors, the global supply chain management market size was valued at USD 20.41 billion in 2023 and is predicted to surpass USD 42.21 billion by the end of 2032. The supply chain management industry is expected to grow by a CAGR of 19.00% between 2024 and 2032

Published Date : 18-Oct-2024 | | Category : Technology & Media | Pages : 218 | Format : Read more

Inquiry for Buying Request Sample

Why FnF Market Research?

1 Inflallible Methodology

to ensure high-level data integrity, accurate analysis, and impeccable forecasts

2 Analyst Support

for complete satisfaction

3 Customization

on-demand customization of scope of the report to exactly meet your needs

4 Targeted Market View

Targeted market view to provide pertinent information and save time of readers

5 Agile Approach

A faster and efficient way to cater to the needs with continuous iteration