The revenue generated by the use of MaaS (Mobility-as-a-Service) platforms, which integrate different transport services (including buses, taxis, rail and metro) into a single app, will exceed $52 billion by 2027, up from $405 million in 2020.
The new research, Mobility-as-a-Service: Business Models, Vendor Strategies & Market Forecasts 2020-2027 from Juniper Research found that this dramatic growth will be realised from 2021, as there will be significant reductions in transport usage in 2020 due to the coronavirus pandemic.
The research anticipates that this will restrict the growth of MaaS platforms in 2020, but that MaaS initiatives will rebound quickly in 2021 as cities re-evaluate their transport strategies. It recommends that MaaS platform providers engage with transit authorities now to design pilots for 2021, in order to ensure future growth.
Private approaches to Mobility-as-a-Service have an uncertain future
The research noted that while ridesharing giants such as Uber and Lyft are adding transit information to apps, the fact that they are not neutral in the transport market means that this model will fail to engage the necessary transit partners for an effective solution.
The research therefore recommended that MaaS vendors focus on licensing platforms as neutral players.
Research author Nick Maynard notes: “MaaS will require wholesale shifts to public transit in order to realise its full benefits, so it must involve public transit operators at every stage. The platform licensing model is essential to building the required public/private partnerships to achieve success.”
MaaS to lead to significant journey time savings
The research also noted that MaaS will save significant time for citizens from 2021, as it will provide much-improved ways to travel in the urban environment, as well as reducing road congestion.
By 2027, MaaS will lead to a commuter time saving equal to 2.7 days per MaaS user per year. Quality of life improvements must be a major factor for city authorities in deciding when to pursue MaaS strategies.