Growing population and congestion levels in cities across the globe ensured the growth of shared mobility segments, such as carsharing, peer-to-peer carsharing, e-hailing, ridesharing (carpooling), demand-responsive transit (DRT), and micromobility services, such as bikesharing. Greater focus on commuting flexibility through real-time trip planning and multimodal travel has also led to the emergence of Mobility-as-a-Service (MaaS) ecosystems across developed markets. While the various shared mobility segments were on a robust growth path, the industry faced a severe downturn in 2020 led by the COVID-19 pandemic across the world. The market has also witnessed tremendous shifts in terms of consumer mobility preferences and requirements after the pandemic.
Mobility companies are restrategizing their businesses and pushing on toward the path of recovery as economies open up after lockdowns. Business innovation and technology have also played a central role, leading mobility companies to rethink their business models and repurpose fleets to support frontline workers and healthcare institutions during the pandemic.