Shared Mobility Telematics Market: Exploring Opportunities with Market Size and Growth Projections

TechSci Research's report "Shared Mobility Telematics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027" predicts a remarkable CAGR for the global shared mobility telematics market during the forecast period, due to the increasing demand for car-pooling and car-sharing services. Factors such as rapid urbanization, the expansion of the automotive industry, growing vehicle fleets, and various environmental issues are expected to fuel the growth of the market over the next five years. In addition, rising environmental concerns have prompted consumers to opt for car-sharing and car-pooling services, as toxic exhaust from cars has led to environmental degradation. Governments have introduced strict regulations to reduce fuel consumption and harmful emissions from vehicles, which is further boosting the growth of the global shared mobility telematics market.

The shared mobility industry suffered a drastic impact due to the COVID-19 pandemic, particularly in the automotive sector. Restrictions and regulations to control the viral spread resulted in a complete shutdown of cab-sharing, car-pooling, and ride-hire services, causing a financial crisis for vehicle drivers who rely on these services for a steady income. However, with the relaxation of rules and regulations and effective precautionary measures, shared mobility services have resumed, and consumers have resumed using them. As a result, the global shared mobility telematics market is expected to regain its composure and continue to grow through 2027.

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The global shared mobility telematics market can be further divided into various segments including service type, vehicle type, offering, technology, regional distribution, and competitive landscape. In terms of service type, the market is classified into ride hailing, car/two-wheeler sharing, rental, and ride sharing. The ride hailing segment is expected to hold the largest revenue share and dominate the market segment in the next five years, driven by the increasing demand from younger consumers who use it for their daily commute and leisure. The ride sharing segment may also witness significant growth in revenue shares due to government initiatives aimed at controlling environmental depletion.

The market can also be differentiated by vehicle type, which includes passenger cars and two-wheelers. The passenger car segment is projected to hold the largest revenue share and dominate the market segment in the next five years due to the high sales of passenger cars in recent years. Increasing demands for premium passenger cars and executive cab hailing services further boost the market growth.

Based on offering, the market is fragmented into global positioning system (GPS), fleet optimization, vehicle tracking, and others. By technology, the market is bifurcated into embedded, tethered, and integrated. The market analysis also studies the regional segmentation, divided among Asia-Pacific region, North American region, European & CIS region, South American region, and Middle East & African region.

Some of the market players, dominating the global shared mobility telematics market are

• SharingOS Holdings Limited
• e-motionlabs NV
• Fleetster
• Avis Budget Group (FastFleet and Local Motion)
• INVERS GmbH
• PBSC Urban Solutions Inc.
• Geotab Inc.

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“North America is anticipated to hold the largest market for the shared mobility telematics in the future years owing to the increasing advancement in the technology and growing car sharing service demands. The economies like the United States and Canada with higher instances of n road traffic are expected to support the regional growth in the future five years. Asia Pacific region may also hold significant growth due to rising population in the countries like India, China, etc. Rising disposable income among the population and their tendencies to avail the cab renting services also facilitates the market growth in the upcoming five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Shared Mobility Telematics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Service Type (Ride Hailing, Car/Two-Wheeler Sharing, Rental, Ride Sharing), By Vehicle Type (Passenger Car, Two-Wheeler), By Offering (Global Positioning System (GPS), Fleet Optimization, Vehicle Tracking, Others), By Technology (Embedded, Tethered, Integrated), By Region”, has evaluated the future growth potential of global shared mobility telematics and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global shared mobility telematics market.

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About TechSci Research:

TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.

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