How is the Shared Mobility market anticipated to look like in 2021-2027?

PLEASANTON, Calif. - Nov. 11, 2021 - PRLog -- The Global Shared Mobility Market was valued at USD 410.5 Bn in 2020 and is expected to reach USD 681 Bn by 2027, with a growing CAGR of 7.5% during the forecast period.

Increasing internet penetration and growing investment in shared mobility organizations have prompted the growth of the market. Moreover, rising traffic congestion on road, lack of parking spaces, excessive fuel prices, and high cost of private car ownership are the factors that might be predicted to help the growth of the market.

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The high growth of the automotive industry and the growth of an integrated environment in the transport industry as well as increased governments initiatives to encourage the growth of such solutions to decrease traffic congestion on roads will provide numerous growth possibilities for the market.

The key players operating in the shared mobility market are:

Avis Budget Group, car2go NA, LLC, Mobiag, movmi, Grab, Uber Technologies Inc., ANI Technologies Pvt. Ltd., Lyft, Inc., Careem, Bolt Technology OÜ, Gett, Hertz Systems, Aptiv, Enterprise Holdings Inc., MOBIKO, Europcar, Curb Mobility, BlaBlaCar, Wingz and Among others.

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By Region Outlook (Revenue, USD Million, 2021-2027)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

In terms of geography, The Asia Pacific dominate the shared mobility market during the forecast period. The growth in the region is attributed to the increase in on-road vehicles as well as the rise in the cost of vehicle ownership especially in the countries like China, and India. Moreover, the increasing population, rising urbanization, and shifting consumer preference to alternative solutions are significant factors for the growth of the shared mobility market in the region.