Shared Mobility Market Size, Share & Trends Analysis Report By Service Model (Ride Hailing, Bike Sharing, Ride Sharing, Car Sharing), By Vehicle, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global shared mobility market size was valued at USD 209.42 billion in 2022 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 15.8% from 2023 to 2030. The market's growth can be attributed to the rise of ride-hailing services such as Uber and Lyft, which have disrupted traditional taxi services. In addition, the increasing popularity of car-sharing services such as Zipcar and Car2Go and the emergence of bike-sharing and scooter-sharing services such as Lime and Bird have also contributed to the market growth.

The widespread adoption of mobile apps enables users to access and book car-pool services quickly and easily. These apps provide real-time information on vehicle availability, pricing, and location, making it easier for users to plan their trips and navigate the city. Electric vehicles also benefit from advancements in battery technology which have increased their range and made them more practical for car-pool services. Electric and hybrid cars are increasingly used in the service as they offer more sustainable and environmentally friendly transportation options.

Electric vehicles have zero emissions and can be charged from renewable energy sources, making them a key solution in transitioning to a low-carbon economy. Hybrid vehicles combine an electric motor with a gasoline engine reducing emissions and increasing fuel efficiency. Companies like Uber and Lyft are increasingly offering electric and hybrid vehicles as a part of their fleets providing riders with a more sustainable option.

Car-sharing companies like Zipcar and Car2Go also introduced electric and hybrid vehicles to their fleet, giving users access to better short-term rental options. The use of electric and hybrid vehicles in the market is expected to grow in the coming years as cities and governments increasingly prioritize sustainable transportation solutions to reduce carbon emissions and improve air quality.

Consumer preferences in the market are rapidly changing, driven by various factors such as the need for convenience, sustainability, and cost-effectiveness. With the shift from car ownership towards shared mobility services, the younger generation is showing less interest in owning a car. Instead, it is opting for a car-pooling option that offers flexibility and cost savings. In addition to a preference for carpooling, consumers increasingly prioritize sustainability in their transportation choices. This has led to a rise in the use of electric and hybrid vehicles in the market and the growth of bike-sharing and scooter-sharing services.

Consumers also demand more convenience and flexibility in the services, which has led to the development of new business models and services. For example, Uber and Lyft have introduced ride-hailing services that offer on-demand transportation. In contrast, car-sharing services like Zipcar and Car2Go provide flexible pick-up and drop-off options for hourly rentals.

Bike-sharing programs typically involve a fleet of bicycles stationed at various locations throughout a city. Users can rent a bike for a short period, typically by scanning a QR code with their smartphone or swiping a membership card, and then return it to another station when finished. Bike sharing is often used for shirt trips such as community to work or running errands. Scooter-sharing programs operate similarly, with users renting electric scooters instead of bicycles. These scooters are often equipped with GPS trackers, allowing users to locate them through a mobile app and unlock them with a code. Like bike sharing, scooter sharing is often used for short trips, although it is generally considered faster than biking.

Machine learning and artificial intelligence are already being used in the market to improve efficiency, safety, and user experience. AI can be used to analyze data from the vehicle and predict when maintenance will be needed. This can help companies to schedule maintenance more efficiently, reduce downtime, and extend the lifespan of their vehicles. Machine learning algorithms can analyze data on past usage patterns and weather conditions to forecast demand for the service in the future. This can help companies allocate resources more effectively and avoid a supply shortage.

Service Model Insights

The ride-hailing service model segment is gaining market traction with an outstanding revenue share of around 55.0% in 2022. This model involves connecting drivers with passengers through a mobile application platform, making it easier and more convenient for people to find transportation on demand. The growth of ride-hailing has been driven by factors such as the increasing use of smartphones, the growth of the sharing economy, and a desire for more flexible and affordable transportation options. The convenience of ride-hailing services and the ability to easily compare prices and select preferred drivers have made them popular among customers. In addition to providing a convenient and affordable transportation option for individuals, ride-hailing services have also contributed to reducing traffic congestion and improving air quality in some cities. The availability of these services has also led to a decline in car ownership in some areas.

The bike-sharing service model segment is attributed to growing at the fastest growth rate, with a CAGR of around 19.0% during the forecast period of 2023-2030. This model involves renting bicycles to individuals for short-term use, typically through a mobile app platform. Bike-sharing services have become increasingly popular due to their affordability, convenience, and sustainability. They offer an environmentally friendly transportation option that is often faster and more flexible than other public transportation. In addition, bike-sharing services have contributed to reducing traffic congestion in some cities and promoting healthy and active lifestyles. They have also become important to customers' first and last-time connectivity. Many European city councils have awarded tenders to implement a few Bicycle Sharing Schemes (BSS) in the coming years. Government measures like these are also expected to increase the need for two-wheeled driving.

Vehicle Insights

The cars segment is gaining market traction by acquiring a market revenue share of around 83.0% in 2022. The growth of cars in the market is due to the increasing demand for convenient, flexible, and affordable transportation options as more people look for alternatives to traditional car ownership as these services become more popular. In addition, the rise of the gig economy and flexible work arrangements has also contributed to the growth of shared mobility as more people need to get around for work purposes. The increasing availability of electric and hybrid vehicles also supports the segment's growth. Many operators in the market are transitioning to electric and hybrid vehicles as a way to reduce emissions and improve sustainability. These vehicles can also provide cost savings in the long term, as they require less maintenance and have lower fuel costs.

The two wheeler segment is the highest-growing market, with a CAGR of more than 18.0% from 2023-2030. The trend of shared transportation has grown significantly in recent years, with various factors, such as rapid urban development, increased natural resources, limited energy resources, and economic concerns, expected to boost the global tourism market during the forecast period. Two-wheeler sharing is an inexpensive and fast option that commuters can use compared to other models. Many industrial players make a lot of money to expand their service line, while car sharing is estimated to prove a significant increase in demand during forecasting. It has a substantial impact on the decline in car ownership rates. The emergence of free-floating free models in developed countries, due to benefits such as flexibility and automation, is expected to increase the car share in the forecast period.

Region Insights

Asia Pacific is gaining market traction by acquiring a market revenue share of around 54.0% in 2022. The region is home to some of the world’s largest and fastest-growing cities, and as a result, there is a growing demand for convenient and sustainable transportation options. The rapid growth of ride-hailing services in the region due to the presence of companies like Uber and Grab has seen tremendous success, as they offer a convenient and affordable alternative to traditional taxis. In addition, many of these companies have expanded their services to include other forms of transportation, such as bike sharing and car sharing.

Middle East and Africa is the highest growing market acquiring a CAGR of 17.0% during 2023-2030. The region is experiencing rapid urbanization and a growing population, contributing to the demand for more sustainable and efficient modes of transportation. Companies like Dyky and Lime are offering bike-sharing services in some of the larger cities, providing users with a convenient and environmentally friendly mode of transportation.

Key Companies & Market Share Insights

Key players in the global market are focusing on mergers, acquisitions, partnerships, and research & development to be able to separate their portfolio from competitors in order to stand out with their market presence and attract new users. Implementing emerging technologies like contactless payment and autonomous driving readiness drives the market towards technological process advancements.

In March 2022, Chalo, a Bangalore-based mobile app that books and enables bus tracking across cities, acquired Vogo, a two-wheeler shared mobility business startup. As part of this acquisition, Vogo plans to switch to EVs (electric vehicles) in all its vehicles, extend services beyond two wheels, and provide other EV models to suit market needs. Some of the key players in the global shared mobility market include:

• Car2Go

• Deutsche Bahn Connect GmbH

• DiDi Chuxing

• Drive Now (BMW)

• EVCARD

• Flinkster

• Grab

• GreenGo

• Lyft

• Uber

• Zipcar

Shared Mobility Market Report Scope 

Global Shared Mobility Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and analyzes the latest industry trends in each sub-segment from 2018 to 2030. For this study, Grand View Research has segmented the global shared mobility market report based on service models, vehicles, and region:

• Service Models Outlook (Revenue, USD Billion, 2018 - 2030)

  • Ride Hailing

  • Bike Sharing

  • Ride Sharing

  • Car Sharing

  • Others

• Vehicles Outlook (Revenue, USD Billion, 2018 - 2030)

  • Car

  • Two-wheelers

  • Others

• Region Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Spain

    • Italy

  • Asia Pacific

    • China

    • Japan

    • India

    • Singapore

  • Latin America

    • Brazil

    • Mexico

  • Middle East and Africa

    • South Africa

    • UAE

    • Saudi Arabia