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Shared Mobility Market Revenue to Attain USD 814.28 Bn by 2033

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The global shared mobility market revenue reached USD 381.17 billion in 2024  and is predicted to attain around USD 814.28 billion by 2033 with a CAGR of 8.8% during the forecast period. The market’s growth has been spurred by the rising use of the Internet and investments in shared mobility.

Market Growth

The term “shared mobility” refers to travel options that separate the use of mobility resources from their ownership to increase their practical utilization. Hence, shared mobility is the temporary usage of shared automobiles as needed and convenient for the user. The government’s attempts to promote shared mobility solutions to minimize traffic congestion on highways and the fast-growing integrated ecosystem within the transportation industry drive the market. Since the use of automobiles has significantly increased pollution over the past ten years, governments worldwide are promoting the use of shared mobility services, which is driving the market’s expansion. Shared mobility is less expensive than purchasing and maintaining a car compared to personal automobiles.

Report Highlights of Shared Mobility Market

  • By type, the vehicle rental/leasing segment dominated the market with the largest share in 2023. This is mainly due to a significant growth in the adoption of rental vehicles. On the other hand, the ride-sharing segment is expected to register considerable growth over the projection period due to consumer preferences for more affordable and opulent means of transportation over personal driving.
  • On the basis of vehicle, the passenger cars segment dominated the shared mobility market in 2023 and is expected to continue its dominance throughout the forecast period. This is due to the enjoyable driving experience and lucrative amenities included in the passenger automobiles.
  • By business model, the P2P segment accounted for the largest market share in 2023 due to the increasing use of automobiles for leasing services.

Reduced traffic, improved economic activity, and availability of eco-friendly transportation: Cities and commuters may both profit from shared transportation in numerous ways. During the COVID-19 epidemic, shared mobility’s practicality and effectiveness stood up as a noteworthy advantage. Ride-sharing services have developed into a reliable and cost-effective substitute for public transit. During the epidemic, ride-sharing services for bicycles, electric bikes, and scooters were very helpful. Outside the pandemic, additional long-term benefits of shared mobility include lessened traffic congestion, improved economic activity, accessibility to more urban locations, availability of eco-friendly transportation, fewer carbon emissions, and inexpensive personal transportation.

Easy availability of services through mobile apps: The use of mobile applications to reserve transportation services like automobiles, motorcycles, scooters, or buses is made possible through carpooling and e-hailing services. Private cars are utilized to provide public transportation services for passengers and fleet operators when they are reserved through these platforms. 

Rise in the investment: Shared mobility is on the rise as customers demand easy, affordable, and environmentally friendly transportation options in cities. Shared mobility has grown to be a lucrative industry over the last ten years. More than $100 billion has been invested in shared mobility enterprises since past ten years by private investors, technological firms, and other parties. To combat the climate catastrophe, cities are working to reduce their emissions, and this decade may witness an even more drastic transition toward flexible, shared, and sustainable modes of transportation. Now, efforts are being made in more than 150 communities to implement policies that would limit the use of private vehicles.

Regional Insights

Asia Pacific dominated the shared mobility market in 2023. China and India seem to be the most promising markets due to their large population. Further, countries like India and Taiwan are focusing on expanding their transportation infrastructure. Moreover, there are many additional problems with owning vehicles in India, and finding parking, especially in metropolitan cities, is challenging. This, in turn, boosts the demand for shared mobility. On the other hand, North America is anticipated to be the fastest-growing region in the market during the forecast period. The region boasts a large number of market players, which are bolstering shared mobility in North America. The increasing demand for affordable transportation option propels the market in the region.

Market News

  • In May 2024, Uber launched Bubbles, a champagne tour bookable directly in the Uber app. This exclusive addition to the ‘Go Anywhere’ travel series offers riders seamless access to one of Europe’s most iconic regions throughout the summer, thereby enhancing the premium travel experience.
  • In March 2024, Zoomcar and EaseMyTrip unveiled a strategic collaboration aimed at providing customers with unparalleled convenience in travel planning. This integration seamlessly incorporates Zoomcar’s extensive fleet of self-drive vehicles into the EaseMyTrip platform, thus expanding the range of travel options available to users.
  • In 2024, Ola, a ride-hailing platform, launched its e-bike service in Delhi and Hyderabad, with the aim to deploy more than 10,000 electric vehicles over the next 2 months across these cities.

Market Segmentation

By Type

  • Ride-sharing
  • Vehicle Rental/Leasing
  • Ride Sourcing
  • Private

By Vehicle Type

  • Passenger Cars
  • LCVs
  • Busses & Coaches
  • Micro Mobility

By Business Model

By Vehicle Propulsion

  • IC Engine Vehicles
  • Electric Vehicles

    • Battery Electric Vehicles (BEV)
    • Plug-in Hybrid Electric Vehicles (PHEV)

By Sales Channel

By Sector Type

By Geography

  • North America
  • Europe

    • U.K.
    • Germany
    • France
    • Russia
    • Italy
    • Spain
    • Rest of Europe

  • Asia Pacific

    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific

  • LAMEA

    • Latin America
    • Middle East
    • Africa

Get this report to explore global market size, share, CAGR and trends, featuring detailed segmental analysis and an insightful competitive landscape overview@ https://www.precedenceresearch.com/checkout/1329

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 804 441 9344



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Uber and Baidu partner to launch autonomous ride-hailing in global markets

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Uber Technologies Inc. and Baidu Inc. have announced a multi-year strategic partnership to deploy autonomous vehicles (AVs) across selected global markets outside the United States and mainland China.

The agreement will see Baidu’s Apollo Go driverless vehicles integrated into the Uber platform, with initial operations expected to begin in Asia and the Middle East later this year.

The partnership aims to enhance ride-hailing services by expanding the availability of autonomous mobility solutions through Uber’s platform.

The collaboration is designed to increase the supply of affordable and reliable rides by supplementing existing transport networks with advanced driverless technology.

Under the terms of the agreement, users requesting eligible Uber trips may be offered the option to travel in a fully autonomous Apollo Go vehicle.

READ MORE: UK DfT fast-tracks self-driving pilots

This marks a significant step in the commercial deployment of AVs beyond pilot programmes and limited urban trials.

Apollo Go currently operates more than 1,000 fully autonomous vehicles and has established a presence in 15 cities worldwide, including Dubai and Abu Dhabi.

As of May 2025, Baidu reports that Apollo Go has provided over 11 million autonomous rides to the public, making it the most widely used driverless ride-hailing service globally by volume.

Co-founder, chairman, and CEO of Baidu, Robin Li, said: “We are committed to bringing the benefit of autonomous driving technology to more people in more markets, and this partnership with Uber represents a major milestone in deploying our technology on a global scale.

“We look forward to working with Uber to deliver safe and efficient autonomous mobility solutions to riders around the world.”

Achievements and innovations in connected autonomous vehicles will be recognised and celebrated at the fourth annual CiTTi Awards on 25 November 2025 at De Vere Grand Connaught Rooms in London. Visit www.cittiawards.co.uk to learn more about this unmissable event for the UK’s transportation sector!



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Kakao Mobility pursues Waymo, Baidu partnerships for driverless taxis

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A Kakao Mobility self-driving car is being tested in the Pangyo area of Seongnam, Gyeonggi. [KAKAO MOBILITY]

 
Kakao Mobility, Korea’s top ride-hailing platform operator, is reportedly in talks with global autonomous vehicle leaders to launch a self-driving taxi service in Korea.
 
Kakao Mobility is pursuing partnerships with the U.S.-based Waymo and China’s Baidu to bring autonomous taxis, also known as robotaxis, to the domestic market through its Kakao T platform, which currently holds over 90 percent of Korea’s taxi-hailing market, according to industry sources and the Ministry of Land, Infrastructure and Transport on Friday.
 
 
If these collaborations are finalized and relevant regulatory frameworks are established, Korean users may be able to summon Waymo or Baidu robotaxis via Kakao Mobility’s platform.
 
The two companies are recognized as leaders in autonomous driving technology. In a March report by global market research firm Guidehouse, Waymo ranked first and Baidu second in autonomous vehicle technology.
 
“Both companies already operate fully autonomous taxi services — without safety drivers — in urban centers in the United States and China,” an industry official said. “They are widely considered front-runners in autonomous driving with a significant technological lead over competitors.”
 
Should these robotaxis be introduced to Korea, they would undergo adjustments to meet the country’s road conditions and traffic systems before being deployed for public service.  
 

A Waymo robotaxi seen on a road in San Francisco, California on Oct. 11, 2024 [YONHAP]

 
Kakao Mobility hopes the vehicles will help accelerate the accumulation of real-world driving data and spur domestic development in the autonomous vehicle sector.
 
“Rapid progress in autonomous technology requires continuous learning through on-road data,” one automotive expert explained. “Waymo and Baidu have proven the safety of their vehicles in real traffic environments and continue to collect valuable driving data.”
 
However, even if agreements are reached, significant legal and logistical hurdles remain. Under current Korean law, fully driverless vehicles are not permitted on public roads. Operational areas for autonomous vehicles are also limited.
 
Expanding to the level of widespread robotaxi deployment seen in parts of the United States and China will take time and require cooperation with Korea’s taxi industry.
 
“We are in discussions with several leading domestic and international companies regarding service collaborations,” said Kakao Mobility. “However, as talks are ongoing, no specific details or finalized agreements can be disclosed at this time.”
 

Baidu’s robotaxi RT6, currently in operation in Wuhan, China and other areas, is seen in this photo provided by the company. [BAIDU]

 

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY YUN JUNG-MIN [[email protected]]





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Bolt launches Family Profile in Nigeria to simplify shared rides – Innovation Village

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Ride-hailing company Bolt has unveiled a new Family Profile feature in Nigeria, aimed at transforming how families and small support networks coordinate transportation. This new addition enables a single user to manage and pay for rides on behalf of up to nine other people—all within one Bolt account. The move marks a significant shift toward inclusive mobility solutions in a market characterized by communal living and informal ride coordination.

While Bolt is not the first to launch such a feature—Uber pioneered the concept in the ride-hailing space—the platform is strategically adapting the idea to meet Nigeria’s unique mobility dynamics, where multi-generational households are common and transportation responsibilities are often shared among family members.

With the new Family Profile, users can add multiple individuals to a shared account, set monthly ride budgets, and receive real-time notifications about trips. This eliminates the need for constant coordination over phone calls or text messages, which, according to Bolt’s internal data, previously characterized around 2–6% of all rides in Nigeria. These trips often required the payer to relay driver details, track trip progress manually, and resolve post-ride payment concerns—an inefficient and often frustrating process.

Now, riders under the Family Profile can independently request trips through their own Bolt app, while the primary account holder retains complete financial oversight and visibility into ride histories and expenditures. The launch of this feature is part of Bolt’s broader strategy to localize its services and address real-world challenges faced by Nigerian users. For families with elderly members or relatives who may not be tech-savvy, the Family Profile offers a convenient way to ensure safe and reliable transportation without requiring them to navigate the app independently.

“At Bolt, we want to make ride-hailing work for the way people actually move,” said Osi Oguah, Country Manager for Bolt Nigeria. “Family Profile is a simple but powerful way to support others—whether it’s aging parents, adult children, or household staff—without the stress of managing every trip manually. It’s about offering control, visibility, and convenience in one seamless experience.”

The Family Profile maintains Bolt’s strict safety protocols. All added members must be at least 18 years old and possess verified Bolt accounts. The company has clarified that rides cannot be booked for unaccompanied minors, citing legal and safety reasons. However, the feature remains ideal for scheduling transportation for older adults or coordinating rides for family members with limited digital literacy.

This update builds on Bolt’s existing in-app safety features such as trip verification codes, live location sharing, real-time ride monitoring, and emergency assistance options—tools designed to reassure users in an increasingly safety-conscious market.

Bolt’s launch of the Family Profile also comes shortly after reporting a 42% drop in offline (untracked) rides over the past three months, a sign that users are increasingly turning to digital tools for secure and transparent transportation. By integrating family-focused features, Bolt reinforces its ambition to lead the ride-hailing industry in both safety and user empowerment.

The rollout of Family Profile is not just a feature upgrade; it’s a strategic evolution of Bolt’s services, grounded in the everyday realities of Nigerian households. As mobility continues to digitize across the country, innovations like this are likely to play a crucial role in shaping how families move together—safely, efficiently, and with greater peace of mind.



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