Mobility‑as‑a‑service (MaaS) will generate revenue of $92bn globally by 2027; up from $20bn in 2022, according a study by Juniper Research.
Growing by 357 per cent over the period, Juniper reports that the main drivers will be the cost and convenience of MaaS solutions and the increased investment in MaaS infrastructure.
Integrating MaaS with smart city ecosystems
The report urges transit planning authorities to take a holistic approach to urban mobility by integrating MaaS into the wider smart city ecosystem to leverage real-time data from smart city sensors and maximise reductions in congestion and pollution.
MaaS platforms provide consumer urban transport solutions, such as bus, metro and ride hailing, all integrated into a single platform, enabling users to organise a multimodal journey through one billing relationship.
The report predicts that, by 2027, 65 per cent of global MaaS revenue will be generated through subscriptions: for a flat monthly fee, users gain access to a variety of transport services, providing a more cost-effective and convenient transit proposition.
The report anticipates, though, that the current use of an ad hoc charging model will continue to be crucial in fostering consumer trust; enabling potential users to trial MaaS journeys for a one-off fee. Ad hoc models enable users to pay for a single journey, rather than committing to an ongoing subscription.
“The ability to pay for a single journey in an app, despite leveraging multiple modes of transport, will create substantial cost savings for users, in comparison to individual transit services,” said research author Cara Malone.
“MaaS platforms must promote these savings to attract users away from established transport services and towards subscription plans for MaaS services.”
As urban populations increase over the next five years, transit planning authorities must consider the potential of a MaaS solution to ease congestion and reduce pollution from private vehicles.
Source: IOT NETWORK NEWS