India’s Increasing Demand for Transportation Services Expedites Shared Mobility Market Growth

By
0
584

Buoyant sector is likely to witness nearly four-fold growth with revenues of $42.85 billion by 2027 at a CAGR of 25.3%, says Frost & Sullivan

MUMBAI, India, March 2, 2022 /PRNewswire/ — Frost & Sullivan’s recent analysis of the Indian shared mobility industry finds that rapidly increasing urbanization in the country presents an opportunity for an integrated, multimodal transport system. Shared mobility presents promising solutions to meet India’s increasing demand for transportation services. With people relying on different modes of transportation since the outbreak of the COVID-19 pandemic, new business models of shared mobility solutions are gaining momentum. Due to this, the gross merchandise value (GMV) of Indian shared mobility is likely to reach $42.85 billion by 2027 from $11.05 billion in 2021, expanding at a compound annual growth rate (CAGR) of 25.3%.

shared mobility
shared mobility

For further information on this analysis, please visit: https://frost.ly/708

“The pandemic disrupted the traditional business model of the shared mobility market in India. Multiple factors, including familiarity with shared services, strong digital infrastructure, and a vibrant entrepreneurial culture, will drive India’s push to meet the booming demand for transportation services,” said Chanchal Jetha, Senior Research Analyst, Mobility Practice, Frost & Sullivan. “Of the various shared mobility modes, we expect corporate mobility and ride-hailing to drive growth in India. Companies like Yulu, Ola, etc., are considering new use cases, such as partnerships with eCommerce and food delivery services. The move will reduce dependency on traditional revenue-generation models and expedite the shared mobility market growth.”

Jetha added: “Factors such as the end of travel bans, the inclusion of electric vehicles in fleets, and increasing partnerships with OEMs will boost the sector. Increasing traffic congestion and carbon emissions with the growing population size and density also creates the need for sustainable, accessible, safe, and reliable shared mobility fleets.”

Growing urbanization, electric vehicle (EV) integration, and rising disposable income signal growth opportunities in the Indian shared mobility market, presenting lucrative market prospects. Key players should:

  • Prepare for service flexibility, including integrations with new business avenues.
  • Focus on including EVs in their fleets to manage overall operating costs and boost electric mobility.
  • Integrate with public transit modes to reduce traffic congestion and enhance the rider experience.

Indian Shared Mobility Growth Opportunities is the latest addition to Frost & Sullivan’s Mobility research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

About Frost & Sullivan

For over six decades, Frost & Sullivan has helped build sustainable growth strategies for Fortune 1000 companies, governments, and investors. We apply actionable insights to navigate economic changes, identify disruptive technologies, and formulate new business models to create a stream of innovative growth opportunities that drive future success. Contact us: Start the discussion.

Indian Shared Mobility Growth Opportunities
PC4A-44

Media Contact:
Srihari Daivanayagam, Corporate Communications
P: +91 44 6681 4412
E: srihari.daivanayagam@frost.com
https://www.frost.com

Donate To The Indian Sun

Dear Reader,

The Indian Sun is an independent organisation committed to community journalism. We have, through the years, been able to reach a wide audience especially with the growth of social media, where we also have a strong presence. With platforms such as YouTube videos, we have been able to engage in different forms of storytelling. However, the past few years, like many media organisations around the world, it has not been an easy path. We have a greater challenge. We believe community journalism is very important for a multicultural country like Australia. We’re not able to do everything, but we aim for some of the most interesting stories and journalism of quality. We call upon readers like you to support us and make any contribution. Do make a DONATION NOW so we can continue with the volume and quality journalism that we are able to practice.

Thank you for your support.

Best wishes,
Team The Indian Sun

Comments