Increasing demand for cab services and rapid surge in carpool and sharing car services
The “Shared Mobility Telematics Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Service Type, By Vehicle Type, By Offering, Fleet Optimization, Vehicle Tracking, Others), By Technology, By Region” report has been added to ResearchAndMarkets.com’s offering.
The global shared mobility telematics market is expected to grow at a significant rate during the forecast period, 2023-2027
The market growth can be attributed to the increasing demand for cab services and the rapid surge in carpool and sharing car services. Mobility sharing telematics is a technology that enables a hybrid mode of transportation to various destinations somewhere between private and public availability.
Besides, the rising demand for two-wheeler sharing travel to reduce commute time and save fuel consumption are contributing to the growth of the global shared mobility telematics market. Additionally, advancements in technology and growing penetration of mobile base mobility sharing applications and services are supporting the growth of the global shared mobility telematics market.
Almost all major and minor economies are flooded with automobiles on the road, and growing fleets of automobiles are leading to overcrowding and excessive traffic. The total number of passenger cars sold globally in 2021 was 55.3 million.
In the next five years, the global shared mobility telematics market is expected to grow due to increased demand for alternatives to driving your car. Moreover, an increase in the number of passenger cars, two-wheelers, and commercial vehicles is expected to drive the market growth.
More than a quarter of all Americans use ride-sharing services at least once a month. Increasing traffic complaints and excessive fuel consumption due to the high number of passenger cars on the road are driving the demand for two-wheeler sharing, which is aiding the growth of the global shared mobility telematics market in the next five years.
The global shared mobility telematics market is segmented based on service type, vehicle type, offering, technology, regional distribution, and competitive landscape.
Based on vehicle type, the market is divided into passenger car and two-wheeler. The passenger car segment is expected to hold the largest share in the global shared mobility telematics market, owing to the high passenger car sales and production. Additionally, rising demands for executive and premium cab-hailing services are projected to boost the market growth.
Objective of the Study:
- To analyze the historical growth in the market size of the global shared mobility telematics from 2017 to 2021.
- To estimate and forecast the market size of global shared mobility telematics market from 2023 to 2027 and growth rate until 2027.
- To classify and forecast the global shared mobility telematics market based on service type, vehicle type, offering, technology, region, and company.
- To identify the dominant region or segment in the global shared mobility telematics market.
- To identify drivers and challenges for the global shared mobility telematics market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global shared mobility telematics market.
- To identify and analyze the profiles of leading players operating in the global shared mobility telematics market.
- To identify key sustainable strategies adopted by market players in global shared mobility telematics market.
Company Profiles: Detailed analysis of the major companies present in global shared mobility telematics market.
- SharingOS Holdings Limited
- e-motionlabs NV
- Avis Budget Group (FastFleet and Local Motion)
- INVERS GmbH
- PBSC Urban Solutions Inc.
- Geotab Inc.
Years considered for this report:
- Historical Years: 2017-2020
- Base Year: 2021
- Estimated Year: 2022
- Forecast Period: 2023-2027
Shared Mobility Telematics Market, By Service Type:
- Ride Hailing
- Car/Two-Wheeler Sharing
- Ride Sharing
Shared Mobility Telematics Market, By Vehicle Type:
- Passenger Car
Shared Mobility Telematics Market, By Offering:
- Global Positioning System (GPS)
- Fleet Optimization
- Vehicle Tracking
Shared Mobility Telematics Market, By Technology:
Shared Mobility Telematics Market, By Region:
- North America
- United States
- South Korea
- Europe & CIS
- United Kingdom
- South America
- Middle East & Africa
- South Africa
- Saudi Arabia