Shared mobility helps address issues like traffic congestion and carbon emissions by reducing the number of privately-owned vehicles on roads. It provides an affordable, convenient and environment-friendly transportation option for users.
The Global Shared Mobility Market is estimated to be valued at US$ 318.32 Bn in 2024 and is expected to exhibit a CAGR of 12.% over the forecast period 2024 To 2031.

Key Takeaways

Key players: Key players operating in the Global Shared mobility Market Growth are Uber Technologies Inc., Lyft Inc., Didi Chuxing Technology Co., Grab Holdings Limited, Ola , focusing on expanding their mobility solutions across major cities globally. For instance, Uber aims to become a one-stop platform for all transportation needs through its ride-hailing, micromobility, and freight options.

The current geopolitical tensions are impacting the growth of the global shared mobility market

With rising fuel costs, economic uncertainties and geo-political issues affecting many parts of the world, shared mobility has become an attractive option for daily commutes. However, conflicts between nations can disrupt supply chains and investments in this sector. For example, the Russia-Ukraine war has led to sanctions on Russia, making it difficult for mobility firms to expand in the country or region. Similarly, political tensions in areas like the Middle East can deter investments. To mitigate such risks in the future, shared mobility companies will need to diversify their international presence, strengthen local partnerships, and focus on developing self-sufficient regional hubs that are less dependent on global circumstances. Investing in electric vehicles and sustainable technologies will also make operations more resilient to volatility in energy markets. With rising nationalism and protectionism in some markets, forging strategic domestic alliances and adapting offerings for local needs will be crucial to navigate the changing global political landscape.

In terms of geographical concentration, the global shared mobility market is currently dominated by North America and Europe in terms of value. This is owing to high adoption of shared mobility options like ride-sharing and rental services in relatively affluent countries across these regions for first and last-mile connectivity. However, Asia Pacific is poised to be the fastest growing regional market during the forecast period owing to massive investments and policy support for shared mobility solutions in densely populated countries like China and India. With rising motorization and focus on reducing vehicular pollution levels, Asia is witnessing a surge in shared E-scooters, bicycles and ride-hailing services that provide sustainable first-mile options.

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