GLOBAL SHARED MOBILITY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

One of the major challenges faced by the shared mobility market is lack of customers' trust in new technologies being adopted by shared mobility players. As shared mobility relies heavily on digital platforms and technologies like ride-hailing apps, self-driving vehicles etc., gaining customers' trust to adopt these new ways of transportation is a hurdle. Other challenges include high operating costs of fleet management for shared vehicles, lack of dedicated infrastructure and regulations supporting new business models, and threat from traditional taxi operators opposing shared mobility services.

Market Opportunities: Integration of Shared Mobility Services with public Transportation

The shared mobility market provides huge opportunities for players who are able to overcome the existing challenges. As more people are accepting new mobility solutions, the market size is expected to grow manifold in the coming years. The shared mobility concept can help reduce transportation costs for customers and support green initiatives like reduced pollution.