What Are the Forecast Projections for The B2C Mobility Sharing Market?
The B2C mobility sharing market has witnessed exponential growth in recent years and is expected to accelerate further. It is anticipated to grow from $54 billion in 2024 to $66.88 billion in 2025 at an impressive compound annual growth rate (CAGR) of 23.8% fueled by factors such as increasing urbanization, population density, escalating traffic congestion, environmental concerns, and smartphone proliferation. Moreover, changes in consumer preferences and support and regulations from the government further contribute to the increase.
The forecast period indicates a continued expansion of the B2C mobility sharing market, slated to reach $152.26 billion in 2029, reflecting a CAGR of 22.8%. This growth will be driven by dynamic pricing strategies, a focus on customer loyalty and personalization, climate change mitigation goals, and the emergence of new business models. Additionally, the intersection of inclusive accessibility and data-driven decision-making provides significant growth prospects. Trends to watch in the forecast period include a widespread expansion of micro-mobility services, contactless payments, and digital wallets.
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Why is the B2C Mobility Sharing Market Set for Growth?
A significant factor driving the growth of the B2C mobility sharing market is the rise in connected vehicles. Connected vehicles enable a seamless interactive consumer experience, empowering vehicle operators with real-time monitoring capabilities and enhanced security measures by receiving and sending data continuously. The expansion of B2C mobility sharing is also facilitated by the pervasive use of smartphones and increased penetration of connected vehicles. For instance, a report by the Society of Motor Manufacturers and Traders (SMMT) unveiled that the UK experienced a record registration of 20,935 battery electric connected cars in January 2024, an increase of 21.0% compared to the previous year.
How is The B2C Mobility Sharing Market Segmented?
The B2C mobility sharing market is divided based on the following factors:
Service Model: Car Sharing, Bike Sharing, Scooter Sharing, Ride-Hailing, Other Service Model
Vehicle: Cars, Two Wheelers, Other Vehicle
Level of Automation: Semi-Automated Vehicle, Fully Automated Vehicle
Application: Short Trips (5 Km or Less), Medium And Long Distance (5-15 Km), Long-distance(More Than 15 Kilometers)
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Who Are The Major Market Players in the B2C Mobility Sharing Industry?
The dominant companies in the B2C mobility sharing market encompass Avis Budget Group Inc., Beijing Xiaoju Technology Co. Ltd., Bolt Technology OÜ, Cabify SA, Careem Networks LLC, Enterprise Holdings Inc., Europcar Group SA, Grab Holdings Inc., The Hertz Corporation, Lyft Inc., Uber Technologies Inc., Didi Chuxing Technology Co., Car2go NA LLC, DriveNow GmbH & Co. KG, Free2Move Holding AB, Getaround Inc., Modo Co-operative, Mobility Cooperative, Mobility Mixx BV, Our Car Ltd., Poppy Mobility NV, Ridecell Inc., Scoot Networks Inc., Sixt SE, Ford Smart Mobility, TIER Mobility GmbH, Voi Technology AB, Whim by MaaS Global, Zipcar Inc., Zoomcar India Pvt Ltd., Cityhop, Evo Car Share.
Which Emerging Trends Are Making a Difference in The B2C Mobility Sharing Market?
Key players in the B2C mobility sharing market are capitalizing on technological advancements by developing electric two- and three-wheeler vehicles to fortify their market presence. For example, KINETIC GREEN ENERGY AND POWER SOLUTIONS LIMITED launched eLuna in September 2022, a vehicle designed to cater to the growing demand for sustainable urban mobility. eLuna offers a blend of style, efficiency, and advanced technology, featuring a lightweight design and a high-capacity lithium-ion battery to provide superior range and performance.
How is The B2C Mobility Sharing Market Performing Across Different Regions?
In 2024, North America emerged as the largest region in the B2C mobility sharing market. Other significant regions covered in the B2C mobility sharing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The B2C Mobility Sharing Market Report 2025 Offer?
B2C mobility sharing refers to transportation services shared among users, encompassing public transit, car sharing, and bike sharing. This report presents comprehensive insights into the global B2C mobility sharing market, providing data on market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. The B2C Mobility Sharing Market research report from The Business Research Company offers all these insights and much more.
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