Report Overview

India Mobility as a Service (MaaS) Market - Industry Trends & Forecast Report, 2030

India Mobility as a Service (MaaS) Market size was estimated at USD 0.87 billion in 2023. During the forecast period between 2024 and 2030, the size of India Mobility as a Service (MaaS) Market is projected to grow at a CAGR of 32.39% reaching a value of USD 4.71 billion by 2030. Major growth drivers for the India Mobility as a Service (MaaS) Market include an increasing demand and the integration of advanced technologies. With a focus on enhancing customer experience, the sector has witnessed a surge in wireless connectivity, enabling seamless interactions among consumers, drivers, and supporters across various domains. The utilization of smartphones for booking transportation, facilitated by improved internet connectivity and high-speed technology, has become a norm, contributing to the rising prominence of MaaS. The evolving landscape has earned the trust of customers through secure, cost-effective, and timely journeys. Also, the rising technological advancements within developed countries drive a growing demand for diverse transportation modes, propelling mobility services. Amid rising populations, ridesharing, car-sharing, and public transport become integral, fueling the expansion of the Mobility-as-a-Service (MaaS) market. Notable players like Ola, Uber, and Zipcar further contribute to market expansion. Heightened demand from consumers in emerging developed regions, coupled with innovative technologies, continues to elevate the mobility service market, fostering trust through effective and secure journeys within specified time frames. Another driving force is the increasing revenue share attributed to solutions such as traffic and parking management, mobility management, ticketing, and wireless navigation. As businesses increasingly incorporate MaaS into their development strategies, the market's growth is further maximized. Market players, engaged in extensive research and development, play a pivotal role in driving and sustaining this upward trend during the forecast period.

Mobility as a Service (MaaS) – Overview

Mobility as a Service (MaaS) represents a paradigm shift in transportation, transforming it into an on-demand service. Instead of individuals owning vehicles, MaaS providers offer diverse transport options as needed, enabling users to navigate current and future cities. Examples include rideshare apps (Uber), peer-to-peer rentals (GoGet, Flexicar), and micro-mobility services (Lime Scooters, Jump Bike). As government regulations aim to curb pollution from traditional vehicles, power companies are driving market growth. The Deloitte Centre for Energy Solutions collaborates with companies in the mobility and electric power sectors, recognizing the pivotal role of power companies. The emergence of the Last Mile Mobility (LMM) initiative addresses transport inequalities, fostering sustainable solutions like carpooling and autonomous shuttles to serve remote areas.

India Mobility as a Service (MaaS) Market

Growth Drivers

Rapid Urbanization and Population Growth

India's commitment to electric mobility, propelled by initiatives like FAME I and FAME II, has significantly impacted the adoption of Electric Vehicles (EVs), surpassing 11.8 million registrations in FY 22-23, primarily in the two-wheeler segment. The government's dedication is evident in the operational 6,586 Public Charging Stations (PCS) as of March 21, 2023. Innovations in the EV value chain, from upstream battery technologies to downstream user experiences and enabling policies, are pivotal for sustainable growth. As India's urbanization and population burgeon, the EV revolution extends beyond automotive, influencing infrastructure, energy, and urban planning. Rapid innovations in charging stations, renewable energy, smart parking, and Mobility as a Service (MaaS) platforms are shaping the future of mobility in response to these dynamic shifts.

Increasing Smart City in Initiatives

India's pursuit of economic growth faces mobility challenges, with three of the world's most congested cities, resulting in a USD 22 billion annual GDP loss. To address this, smart city initiatives are gaining momentum, focusing on innovative mobility solutions. Amidst the current emphasis on electric mobility, broader mobility concerns persist, prompting global cities to prioritize public transport and sustainable options. Indian cities follow suit, investing in metro rail, electric buses, and diverse mobility services. Overcoming user inconvenience in multi-modal options is crucial for creating inclusive and livable smart cities. The transformative solution lies in Mobility as a Service (MaaS), an integrated platform streamlining diverse transportation modes. Successful MaaS implementation, such as Helsinki's Whim app, serves as a model, supporting the future of travel and contributing to smart city aspirations in India.

Restraints

Lack of Well-Established Public Transport Systems

The India Mobility as a Service (MaaS) Market faces growth constraints due to the inadequate development of well-established public transport systems. The lack of robust public transportation infrastructure hinders the seamless integration of diverse mobility services. This shortfall impacts the overall accessibility and convenience offered by MaaS, impeding its widespread adoption. As MaaS relies on the convergence of various transportation modes, the absence of a well-structured public transport foundation poses a significant obstacle to its market expansion in India.

India Mobility as a Service (MaaS) Market

Segmental Coverage

India Mobility as a Service (MaaS) Market – By Service Type

By service type, the India Mobility as a Service (MaaS) Market is divided into Ride Hailing, Car Sharing, Micro Mobility, Bus Sharing, and Train Services segments. The ride hailing segment holds the highest share in the India Mobility as a Service (MaaS) Market by service type. It can primarily be due to the expansion of services and geographical reach. This dominance underscores a significant shift in consumer preferences toward convenient and flexible mobility solutions, as seen in the popularity of services like Uber and Ola. Urbanization, increased connectivity, and a growing emphasis on shared and efficient transportation options contribute to this trend, positioning ride-hailing as a key driver of MaaS adoption in the Indian market. For instance, Uber's ambitious plan to double its presence in India, with a focus on two-wheelers and three-wheelers, aligns seamlessly with the dominant role of the ride-hailing segment in the India Mobility as a Service (MaaS) Market. Uber anticipates India becoming its largest global market in the next decade, emphasizing growth through service expansion and extended geographical reach. Despite challenges like administrative compliances and the cost of electric vehicles, Uber remains steadfast in its commitment to increasing its workforce and addressing market demands. This strategic move reflects the pivotal role of ride-hailing in India's evolving transportation landscape, highlighting a comprehensive approach to mobility solutions.

India Mobility as a Service (MaaS) Market – By Transportation Type

Based on transportation type, the India Mobility as a Service (MaaS) Market is bifurcated into Public and Private segments. The public segment dominated the India Mobility as a Service (MaaS) Market by transportation type. The concept of MaaS offers significant benefits to public transportation systems. MaaS solutions contribute to improved operational efficiency through the provision of data-driven insights into user preferences, travel patterns, and demand. This, in turn, facilitates better resource allocation and optimization of routes. By simplifying the user experience, providing seamless multi-modal options, and enhancing the overall appeal of public transportation, MaaS has the potential to increase ridership effectively.

India Mobility as a Service (MaaS) Market – By Vehicle Type

Based on vehicle type, the India Mobility as a Service (MaaS) Market is divided into Micro Mobility, Four-wheelers, Buses, and Trains segments.

India Mobility as a Service (MaaS) Market – By Operating System

Based on operating system, the India Mobility as a Service (MaaS) Market is split into Android and iOS segments. The android segment holds a higher share in the India Mobility as a Service (MaaS) Market by operating system. The increasing acceptance of MaaS among Android users is driven by its user-friendly interface and seamless integration with the Android platform. Tailoring mobility as a service application specifically for Android devices ensures a smooth and accessible experience, capitalizing on the widespread use of Android smartphones. Also, the expanding user community in emerging markets plays a significant role.

India Mobility as a Service (MaaS) Market – By Application

Based on application, the India Mobility as a Service (MaaS) Market is divided into Personalized Application Services, Journey Management, Journey Planning, Flexible Payments & Transactions segments. The journey management segment holds the highest share in the India Mobility as a Service (MaaS) Market by application. Journey management within the MaaS framework involves optimizing routes, modes of transportation, and overall travel planning. The prominence of this segment underscores the demand for comprehensive solutions that simplify and enhance the end-to-end travel experience, catering to the evolving preferences of users in India's dynamic mobility landscape. This dominance signals a strategic focus on improving the efficiency and convenience of journeys through innovative MaaS applications and services.

India Mobility as a Service (MaaS) Market – By End User

On the basis of end user, the India Mobility as a Service (MaaS) Market is segmented as Business Developments, Transport Services, Academics, Civil Work, Hospital Transport Facility, and Municipal Sector segments.

India Mobility as a Service (MaaS) Market – By Application

Based on application, the India Mobility as a Service (MaaS) Market is divided into Personalized Application Services, Journey Management, Journey Planning, Flexible Payments & Transactions segments. The journey management segment is expected to hold the highest share in the India Mobility as a Service (MaaS) Market by application during the forecast period by application. Journey management within the MaaS framework involves optimizing routes, modes of transportation, and overall travel planning. The prominence of this segment underscores the demand for comprehensive solutions that simplify and enhance the end-to-end travel experience, catering to the evolving preferences of users in India's dynamic mobility landscape. This dominance signals a strategic focus on improving the efficiency and convenience of journeys through innovative MaaS applications and services.

India Mobility as a Service (MaaS) Market – By Business Model

Based on business model, the India Mobility as a Service (MaaS) Market is divided into Business-to-Business (B2B), Business-to-Consumer (B2C), and Peer-to-Peer (P2P) segments. The B2C segment holds the highest share in the India Mobility as a Service (MaaS) Market by business model. B2C MaaS involves delivering integrated transportation solutions directly to individual consumers by service providers. The expansion of this segment can be credited to the convenience it offers compared to self-driving. Particularly in densely populated urban areas, these mobility services address the challenge of limited parking space, providing users with accessible transportation options without the concern of restricted parking availability. This growth underscores the preference for hassle-free mobility solutions, positioning B2C MaaS as a pivotal player in meeting the evolving transportation needs of individual consumers.

India Mobility as a Service (MaaS) Market – By Region

Regionally, the India Mobility as a Service (MaaS) Market is segmented as North India, South India, East India, and West India.

Competitive Landscape

Major players operating in the India Mobility as a Service (MaaS) Market include Avis Budget Group, movmi Shared Transportation Services Inc., Uber Technologies Inc., ANI Technologies Pvt. Ltd., Lyft Inc., Aptiv, Roppen Transportation, and Quick Ride. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In August 2023 - Ashok Leyland finalized the acquisition of OHM Global Mobility Pvt Ltd (OHM) for a nominal sum of INR 100,000, paving the way for operationalizing the electric mobility-as-a-service (e-MaaS) business. The conglomerate plans to invest up to INR 300 crore in OHM, designating it as a 100% subsidiary. The move comes as e-MaaS gains prominence in India, with a strategic focus on enhancing EV penetration in both the public and private sectors. OHM will handle e-MaaS contracts, and Ashok Leyland subsidiary Switch India will supply EV buses and light commercial vehicles for deployment under e-MaaS agreements.

• In July 2023 - Bengaluru-based Log9 Materials and Hyderabad-headquartered Hala Mobility India formed a strategic partnership for eco-friendly mobility solutions. Under the collaboration, Log9 will supply 1,500 innovative BzinessLite electric two-wheelers, known for their rapid charging capability, to Hala Mobility. These vehicles will be initially deployed in Hyderabad and gradually expanded to other major cities.

• In June 2023 - BillionElectric, an e-Mobility as a Service (eMaaS) platform, has successfully secured INR 82 crore (USD 10 million) in seed funding, signaling its entry into the Indian market. This EV startup, affiliated with Charge+Zone, a prominent EV charging infrastructure provider, plans to allocate funds for two primary initiatives: deploying electric tarmac buses at Bengaluru international airport and developing a mid-mile heavy EV truck platform. The comprehensive e-MaaS offering aims to cover a range of services, including EVs, charging infrastructure, and an integrated e-mobility platform, supporting zero-emission transportation and efficient goods movement for large corporations. The platform had already inked contracts for expansion to 10 additional airports across India.

Scope of the Report

By Service Type

• Ride Hailing

• Car Sharing

• Micro mobility

• Bus Sharing

• Train Services

By Transportation Type

• Public

• Private

By Vehicle Type

• Micro Mobility

• Four Wheelers

• Buses

• Trains

By Operating System

• Android

• iOS

By Application

• Personalized Application Services

• Journey Management

• Journey Planning

• Flexible Payments & Transactions

By End User

• Business Developments

• Transport Services

• Academics

• Civil Work

• Hospital Transport Facility

• Municipal Sector

By Business Model

• Business-to-Business (B2B)

• Business-to-Consumer (B2C)

• Peer-to-Peer (P2P)

By Region

• North India

• South India

• East India

• West India

1. Research Framework
   1. Research Objective
   2. Service Type Overview
   3. Market Segmentation
2. Executive Summary
3. India Mobility as a Service (MaaS) Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Urbanization and population growth
         2. Increasing smart city in initiatives
      2. Restraints
         1. Lack of infrastructure to scale MaaS application
         2. Lack of well-established public transport systems
      3. Opportunities
         1. High prevalence of electric vehicles
         2. Government initiatives
      4. Challenges
         1. Integration complexity
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. India Mobility as a Service (MaaS) Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Service Type
         1. Ride Hailing
         2. Car Sharing
         3. Micro mobility
         4. Bus Sharing
         5. Train Services
      2. By Transportation Type
         1. Public
         2. Private
      3. By Vehicle Type
         1. Micro mobility
         2. Four-wheelers
         3. Buses
         4. Trains
      4. By Operating System
         1. Android
         2. iOS
         3. Others
      5. By Application
         1. Personalized Application Services
         2. Journey Management
         3. Journey Planning
         4. Flexible Payments & Transactions
      6. By End User
         1. Business Developments
         2. Transport Services
         3. Academics
         4. Civil Work
         5. Hospital Transport Facility
         6. Municipal Sector
      7. By Business Model
         1. Business-to-Business
         2. Business-to-Consumer
         3. Peer-to-Peer
      8. By Region
         1. North India
         2. South India
         3. East India
         4. West India
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. India Mobility as a Service (MaaS) Company Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid-19 on India Mobility as a Service (MaaS) Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Avis budget group
   2. movmi Shared Transportation Services Inc.
   3. Uber Technologies Inc
   4. ANI Technologies Pvt Ltd
   5. Lyft, Inc.
   6. Aptiv
   7. Roppen Transportation
   8. Quick Ride
   9. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1.       Qualitative Research
      1.   Primary & Secondary Research
   2.       Quantitative Research
   3.       Market Breakdown & Data Triangulation
      1.   Secondary Research
      2.   Primary Research
   4.       Breakdown of Primary Research Respondents, By Region
   5.       Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       India Mobility As a Service (MaaS) Segmentation

Figure 2       India Mobility As a Service (MaaS) Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       India Mobility As a Service (MaaS) Market Size, By Value (USD Million), 2019–2030

Figure 5       India Mobility As a Service (MaaS) Market Share, By Service Type, By Value, 2019–2030

Figure 6       India Mobility As a Service (MaaS) Market Share, By Transportation Type, By Value, 2019–2030

Figure 7       India Mobility As a Service (MaaS) Market Share, By Vehicle Type, By Value, 2019–2030

Figure 8       India Mobility As a Service (MaaS) Market Share, By Operating System, By Value, 2019–2030

Figure 9       India Mobility As a Service (MaaS) Market Share, By Application, By Value, 2019–2030

Figure 10     India Mobility As a Service (MaaS) Market Share, By End User, By Value, 2019–2030

Figure 11     India Mobility As a Service (MaaS) Market Share, By Region, By Value, 2019–2030

List of Tables

Table 1        India Mobility As a Service (MaaS) Segmentation

Table 2        India Mobility As a Service (MaaS) Market Value Chain Analysis

Table 3        Company Market Size Analysis, 2021

Table 4        India Mobility As a Service (MaaS) Market Size, By Value (USD Million), 2019–2030

Table 5        India Mobility As a Service (MaaS) Market Share, By Service Type, By Value, 2019–2030

Table 6        India Mobility As a Service (MaaS) Market Share, By Transportation Type, By Value, 2019–2030

Table 7        India Mobility As a Service (MaaS) Market Share, By Vehicle Type, By Value, 2019–2030

Table 8        India Mobility As a Service (MaaS) Market Share, By Operating System, By Value, 2019–2030

Table 9        India Mobility As a Service (MaaS) Market Share, By Application, By Value, 2019–2030

Table 10      India Mobility As a Service (MaaS) Market Share, By End User, By Value, 2019–2030

Table 11      India Mobility As a Service (MaaS) Market Share, By Region, By Value, 2019–2030

Table 12      Avis budget group  Company Overview

Table 13      Avis budget group  Financial Overview

Table 14      movmi Shared Transportation Services Inc.  Company Overview

Table 15      movmi Shared Transportation Services Inc.  Financial Overview

Table 16      Uber Technologies Inc Company Overview

Table 17      Uber Technologies Inc Financial Overview

Table 18      ANI Technologies Pvt Ltd  Company Overview

Table 19      ANI Technologies Pvt Ltd  Financial Overview

Table 20      Lyft, Inc.  Company Overview

Table 21      Lyft, Inc.  Financial Overview

Table 22      Aptiv  Company Overview

Table 23      Aptiv  Financial Overview

Table 24      Roppen Transportation Company Overview

Table 25      Roppen Transportation Financial Overview

Table 26      Quick Ride Company Overview

Table 27      Quick Ride Financial Overview