About Individual Mobility Services
Individual mobility functions as a bridge between public and private transportation. The growing technological advancements and digitalization has open new era in the mobility service as it enables people to book or hire car, bikes, and auto for door to door transportation through the mobile applications. In today’s time, many people are using car or bike hailing and sharing services for day to say transportations and to travel out of stations.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new mobility solutions, which is likely to encourage the growth of the global market throughout the forecast period. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Individual Mobility Services market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Uber Technologies, Inc. (United States), Ola Cabs (India), Lyft, Inc. (United States), Hyundai Motor Group (South Korea), Bla Bla Car (France), Meru Cabs (India), Didi Chuxing (United States), Grab Holdings Inc. (Singapore), Cabify (Spain), Careem (United Arab Emirates) and General Motors (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Individual Mobility Services market by and Region.
On the basis of geography, the market of Individual Mobility Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Services, the sub-segment i.e. Car Sharing will boost the Individual Mobility Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle Type, the sub-segment i.e. Cars will boost the Individual Mobility Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Evolution of Autonomous Vehicles and Integration of AI & Deep Learning Technologies in Transportation
Market Growth Drivers:
Increasing Demand Mobility Services in Urban Areas and Metropolitan Areas for Quick and Comfortable Transportation and Increasing Disposable Income Led to Adopt Car sharing and Hailing Services
Challenges:
High Rate of Transportation Compared to Public Transportation
Restraints:
Government Regulations to Reduce Pollution and Initiative to Promote Public Transportation Service
Opportunities:
Increased Migration Rate of People from Rural Areas to Urban Area and Increasing Adoption of Individual Mobility Service Due to Covid-19 Pandemic to Avoid Public Transportation
Market Leaders and their expansionary development strategies
In April 2021, Toyota bought Lyft’s self-driving technology unit to boost its self-driving plans in the US. Lyft is the largest public self-driving commercial platform in the US. This will give Toyota a direct presence in Silicon Valley and London and expand smart-city project "Woven City" at the base of Japan's Mt. Fuji.
In February 2020, Mobility company redBus launched its car and bike pooling service in Delhi to provide better transportation options to professional and daily office goers. It enables people to avail and offer rides in their personal cars and bikes while commuting to and from the office. However, in order to compete with Ola and Uber, the company has fixed the prices at a maximum of Rs 5 per km for carpooling and Rs 4 per km for bike pooling, and female ride givers will only get female ride takers.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Individual Mobility Services Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.