Growing demand for transportation services in India is accelerating the growth of shared mobility market
The dynamic sector is expected to grow almost fourfold with revenues of $42.85 billion by 2027 at a CAGR of 25.3%, according to Frost & Sullivan
Mumbai, India, March 2, 2022 /PRNewswire/ — Frost & Sullivan’s recent analysis of the Indian shared mobility industry notes that the growing urbanization of the country offers an opportunity for an integrated multimodal transport system. Shared mobility presents promising solutions to meet india increased demand for transport services. With people relying on different modes of transportation since the outbreak of the COVID-19 pandemic, new business models for shared mobility solutions are gaining momentum. As a result, the Gross Market Value (GMV) of Indian shared mobility is expected to reach $42.85 billion by 2027 from $11.05 billion in 2021, expanding at a compound annual growth rate (CAGR) of 25.3%.
For more information on this analysis, please see: https://frost.ly/708
“The pandemic has disrupted the traditional economic model of the shared mobility market by India. Multiple factors, including familiarity with shared services, a strong digital infrastructure and a vibrant entrepreneurial culture, will drive india to meet the growing demand for transportation services,” said Chanchal Jetha, Senior Research Analyst, Mobility Practice, Frost & Sullivan. “Among the different modes of shared mobility, we expect enterprise mobility and carpooling to drive growth in India. Companies like Yulu, Ola, etc., are considering new use cases, such as partnerships with e-commerce and food delivery services. This move will reduce reliance on traditional revenue generation models and accelerate the growth of the shared mobility market. »
Jetha added: “Factors such as the end of travel bans, the inclusion of electric vehicles in fleets and increased partnerships with OEMs will boost the sector. Rising traffic congestion and carbon emissions with increasing population size and density also creates the need for accessible, safe and reliable shared mobility fleets.”
Growing urbanization, uptake of electric vehicles (EV), and increasing disposable income signal growth opportunities in India’s shared mobility market, presenting lucrative market prospects. Key players should:
- Prepare to service flexibility, including integrations with new business avenues.
- Focus on inclusion VE in their fleets to control overall operating costs and boost electric mobility.
- Integrate with modes of public transport to reduce traffic congestion and improve the driver experience.
Shared Mobility Growth Opportunities in India is the latest addition to Frost & Sullivan’s Mobility research and analysis available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous stream of growth opportunities to succeed in the unpredictable future.
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Shared Mobility Growth Opportunities in India