Global Shared Mobility Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2031

Shared Mobility Market Analysis

The shared mobility market has experienced significant growth, driven by advancements in technology and shifting consumer preferences towards sustainable transportation options. Key developments in this sector include the integration of electric vehicles (EVs) and autonomous driving technology, enhancing the appeal and efficiency of shared mobility solutions. Major players such as Uber and Lyft are expanding their service offerings to include bike and scooter sharing, while companies such as Zipcar and car2go are evolving their car-sharing models to cater to urban populations seeking flexibility and convenience. Furthermore, strategic partnerships, such as the collaboration between Lyft and Spin to incorporate scooters into their platform, are making it easier for users to access a variety of transportation options from a single app. Governments and municipalities are also increasingly supporting shared mobility initiatives through incentives and infrastructure development, aiming to reduce traffic congestion and carbon emissions. Overall, the shared mobility market is poised for continued expansion, driven by innovative solutions that address urban mobility challenges and promote a more sustainable future.

Shared Mobility Market Size

The global shared mobility market size was valued at USD 5.85 billion in 2023 and is projected to reach USD 51.30 billion by 2031, with a CAGR of 31.18% during the forecast period of 2024 to 2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Shared Mobility Market Trends

“Rise of Electric Vehicle (EV) Integration”

The shared mobility market has experienced significant growth propelled by advancements in technology. One prominent trend in the shared mobility market is the rise of electric vehicle (EV) integration within car-sharing and ride-hailing services. As consumers increasingly prioritize sustainability, companies are responding by incorporating EVs into their fleets. For instance, Uber has committed to transitioning its fleet to electric vehicles by 2030, partnering with manufacturers such as Tesla to facilitate this shift. This trend reduces carbon emissions and enhances the overall efficiency of shared mobility services. Furthermore, cities are incentivizing the use of EVs through dedicated charging infrastructure and subsidies, making it more appealing for both providers and users. This integration of EVs is revolutionizing the shared mobility landscape, offering eco-friendly alternatives while meeting the growing demand for flexible transportation solutions. As this trend continues to gain momentum, it is expected to reshape urban transportation dynamics and contribute to a greener future.

Report Scope and Shared Mobility Market Segmentation     

Shared Mobility Market Definition

Shared mobility refers to the transportation services that enable users to access vehicles or transportation options on a short-term basis, rather than owning them. This includes various models such as ride-hailing (e.g., Uber, Lyft), car-sharing (e.g., Zipcar, car2go), bike-sharing, and scooter-sharing services, which provide flexible and convenient alternatives to traditional car ownership. Shared mobility aims to improve urban transportation efficiency, reduce traffic congestion, lower carbon emissions, and enhance accessibility to mobility options, making it an essential component of modern sustainable transportation systems.

Shared Mobility Market Dynamics

Drivers

• Rapid Urbanization and Increasing Population

Urbanization serves as a crucial market driver for shared mobility, with the global urban population projected to reach approximately 5 billion by 2030, according to the United Nations. This rapid growth in urban areas intensifies the demand for efficient and accessible transportation solutions to accommodate the increasing number of residents. Shared mobility services, such as ride-hailing and car-sharing, provide a practical alternative for city dwellers who often encounter high costs associated with vehicle ownership, including maintenance, insurance, and parking fees. For instance, a study found that car-sharing services can reduce the number of vehicles on the road by as much as 10% in densely populated areas. This reduction alleviates traffic congestion and promotes sustainable urban living by minimizing carbon emissions. As cities continue to expand, shared mobility solutions will play a pivotal role in addressing the transportation needs of growing populations, solidifying their position as a key driver in the shared mobility market.

• Rising Environmental Concerns

Environmental concerns are a significant driver of the shared mobility market, as rising awareness of climate change and air pollution pushes both consumers and governments toward sustainable transportation alternatives. According to a report from the International Energy Agency (IEA), the transportation sector accounts for nearly 24% of global CO2 emissions, underscoring the urgent need for cleaner options. Shared mobility services, particularly those integrating electric vehicles (EVs), are pivotal in mitigating these emissions and meeting consumer demand for eco-friendly solutions. Furthermore, cities are actively implementing initiatives to promote EV usage within shared mobility fleets; for example, San Francisco's Clean Vehicle Program incentivizes ride-hailing companies to electrify their fleets, aiming for 100% of the city’s taxis and ride-hailing vehicles to be zero-emission by 2030. This trend contributes to cleaner air and reduced carbon footprints and aligns with global sustainability goals, reinforcing shared mobility's role as a vital market driver in the pursuit of more sustainable urban transportation solutions.

Opportunities

• Growing Technological Advancements

Technological advancements represent a crucial market opportunity for shared mobility services, particularly through the integration of artificial intelligence (AI), machine learning, and the Internet of Things (IoT). These innovations can significantly enhance operational efficiency and elevate the user experience. For instance, AI algorithms can analyze vast datasets to optimize route planning, leading to quicker and more cost-effective journeys while minimizing fuel consumption. In addition, IoT devices installed in vehicles provide real-time data on vehicle performance, enabling proactive maintenance and reducing downtime. This ensures vehicle reliability and enhances customer satisfaction. Moreover, shared mobility providers can develop personalized services based on user preferences, offering customized ride options or tailored promotions that resonate with individual users. By leveraging these technologies, companies can streamline operations and offer superior services, positioning themselves to capture a larger share of the market. As consumers increasingly seek convenient, efficient, and personalized transportation solutions, embracing these technological advancements will create numerous opportunities in the market.

• Increasing Government Support and Funding

Government support and funding create substantial opportunities for shared mobility companies to enhance their operations and broaden their service offerings. Many governments worldwide are actively promoting shared mobility initiatives through various programs that include financial incentives, grants, and favourable regulations designed to encourage the adoption of sustainable transportation solutions. For instance, the U.S. federal government has provided grants to cities through programs such as the Better Utilizing Investments to Leverage Development (BUILD) grant program, which supports innovative transportation projects, including shared mobility services. In addition, cities such as Los Angeles have implemented regulatory frameworks that facilitate ride-sharing and micro-mobility operations, allowing companies to operate more freely while ensuring compliance with safety and accessibility standards. By tapping into these government resources and support, shared mobility providers can mitigate operational costs and gain a competitive edge, expand their service areas, and accelerate the adoption of their solutions in urban environments, ultimately broadening opportunities within the market.

 Restraints/Challenges

• Safety and Security Concerns

Safety and security concerns significantly impact the shared mobility market, as issues such as accidents and criminal activity can deter potential users from utilizing these services. Ensuring the safety of both passengers and drivers is paramount, as any incidents can lead to negative perceptions and a subsequent decline in demand. For instance, in 2019, a highly publicized incident involving a ride-hailing driver in the U.S. who was implicated in a series of assaults sparked widespread fear and skepticism regarding the safety of ride-hailing services. Following this event, companies such as Uber and Lyft implemented enhanced safety measures, such as background checks, in-app emergency features, and driver training programs, to rebuild consumer trust. However, despite these efforts, safety concerns remain a barrier to entry for many potential users, particularly among demographics such as women and older adults, who may feel more vulnerable using shared mobility services. As a result, hampering overall market growth.

• Differing Laws and Regulations across Countries

Regulatory hurdles pose significant challenges for the shared mobility market, as differing laws and regulations across countries and regions can complicate compliance for service providers. Each jurisdiction often has its own set of rules governing aspects such as licensing, insurance, and operational standards, which can create a complex landscape for companies trying to scale their services. For instance, in London, the Transport for London (TfL) authority has implemented stringent regulations for ride-hailing services, requiring operators to obtain specific licenses, comply with safety regulations, and meet strict insurance requirements. Similarly, in cities such as New York, local regulations limit the number of ride-hailing licenses available, creating a bottleneck that restricts competition and innovation. These regulatory discrepancies increase operational costs and delay market entry and expansion for shared mobility providers, ultimately hindering the shared mobility market growth.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Shared Mobility Market Scope

The market is segmented on the basis of service model, vehicle type, business model, sector type, autonomy level, and power source. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Service Model

• Ride Hailing
• Bike Sharing
• Ride Sharing
• Car Sharing
• Others

Vehicle Type

• Cars
• Two-Wheelers
• Others

Business Model

• Peer-To-Peer (P2P)
• Business-To-Business (B2B)
• Business-To-Consumer (B2C)

Sector Type

• Unorganized
• Organized

Autonomy Level

• Manual
• Autonomous
• Semi-Autonomous

Power Source

• Fuel Powered
• Hybrid Electric Vehicle (HEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
• Battery Electric Vehicle (BEV)

Shared Mobility Market Regional Analysis

The market is analysed and market size insights and trends are provided by country, service model, vehicle type, business model, sector type, autonomy level, and power source as referenced above.

The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific leads the shared mobility market in revenue growth and market share due to the rising costs associated with vehicle ownership and the growing traffic congestion in countries such as India and China. High urbanization rates and the push for sustainable transportation solutions have further fueled the adoption of shared mobility services across the region. These factors, combined with increasing government initiatives supporting alternative mobility, are driving market expansion.

Europe is expected to be the fastest-growing region in the shared mobility market during the forecast period from 2024 to 2031, driven by the surging demand for shared transportation solutions. This growth is largely attributed to the rising number of corporate travellers, who are increasingly opting for convenient and cost-effective mobility options. In addition, the region's strong focus on reducing carbon emissions and promoting sustainable travel further supports the rapid development of shared transportation services.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Shared Mobility Market Share

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Shared Mobility Market Leaders Operating in the Market Are:

• Avis Budget Group (U.S.)
• Daimler Truck North America LLC (U.S.)
• DiDi Global Inc (China)
• Mobiag (Portugal)
• Movmi LLC (Canada)
• Uber Technologies Inc. (U.S.)
• Ola Electric Mobility Pvt Ltd (India)
• Lyft, Inc. (U.S.)
• Careem (U.A.E)
• Bolt Technology OÜ (Estonia)
• Gett (U.K.)
• The Hertz Corporation (U.S.)
• Aptiv (Ireland)
• Enterprise Holdings Inc. (U.S.)
• MOBIKO (Germany)
• Europcar (France)
• Curb Mobility, LLC (U.S.)
• BlaBlaCar (France)
• Wingz (U.S.)

Latest Developments in Shared Mobility Market

• In July 2023, Grab announced its acquisition of Singapore-based taxi operator Trans-cab. This deal includes Trans-cab’s maintenance workshop, fuel pump services, and car rental operations, along with the launch of the Grab Driver app, which will be integrated into mobile display units within Trans-cab taxis
• In March 2023, Zipcar, Inc. advanced its carshare program in New York City, introducing services in Kew Gardens Hills (Queens), West Village (Manhattan), and Bedford Park (Bronx), expanding its presence across key neighborhoods
• In March 2022, Lyft teamed up with Spin to integrate Spin scooters into the Lyft app across 60 U.S. markets. This collaboration aims to streamline access to multiple mobility options, including car-sharing, through a single platform. By adding Spin scooters, Lyft is expanding its range of transportation solutions, making it more convenient for users to choose from various options within the app
• In January 2022, The Toro Company, a leader in innovative outdoor solutions, acquired The Intimidator Group Inc., a U.S.-based manufacturer of side-by-side vehicles. This acquisition is part of Toro’s strategy to strengthen its presence in the zero-turn mower market and establish itself as a key player in the global market
• In July 2020, Polaris Inc. introduced RideReady, a groundbreaking on-demand digital service platform. This innovative RideReady strategy leverages digital tools to enhance customer engagement by providing seamless access to services. The platform connects shared mobility dealers and owners with Indian Motorcycle, allowing customers to conveniently schedule service appointments online

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