29-Apr-2021 | Facts and Factors
As per the market research report published by Facts and Factors, the global B2B Mobility Sharing Market was valued at approximately USD 31.25 Billion in 2020, and further, the market expected to generate revenue of around USD 119.2 Billion by end of 2026, growing at a CAGR of around 25% between 2021 and 2026.
Car sharing that allows commercial companies to reduce their private vehicle fleets, which are normally retained for business purposes, is known as business to business or corporate to corporate car sharing. B2B mobility sharing allows companies to share their car services with other companies, reducing vehicle parking space, fleet size, and emissions. Businesses can use B2B mobility sharing to share car services among their workers, reducing traffic congestion and vehicle emissions.
The B2B mobility sharing market is being driven by an increase in demand for ride-sharing services combined with a reduction in parking space. Businesses use car-sharing systems to commute their workers regularly, reducing fleet time and parking costs. During the forecast period, an increase in mobility service providers and rising disposable income are expected to propel the B2B mobility sharing market. Peer-to-peer (P2P) car-sharing and convenient public transportation are two major constraints for the B2B mobility sharing industry.
Top Market Players
Major players in the market are Zipcar, Ola, DriveNow, Zoomcar, Car2go, ParkatmyHouse, Lyft, Sixt, Spinlister, Uber, Drivezy, Volercars, SKedGo Pty Ltd, Tranzer, Rapido, Jenzabar, We Trott amongst others.
Government Contributions To The Improvement Of Shared Mobility Networks
Now, most of the country's government is worried about population growth, which has negative environmental consequences. Governments urge people to limit their use of automobiles as much as possible. Furthermore, sharing rides among friends and families is one of the government's main ideas for encouraging people to choose shared rides over personal rides, which is expected to boost the global shared mobility market's growth. Moreover, concerns about the climate and cost-effective modes of transportation are becoming more prevalent. Customers are opting for more cost-effective and luxurious modes of transportation over personal driving preferences. Furthermore, consumers who previously rented a personal driver for their car because it was more cost-effective have changed the majority of their travel preferences to shared transportation. As a result, these policies are expected to accelerate the growth of the shared mobility market over the forecast period. Thereby, certain factors are responsible to boost the market demand in recent years.
COVID-19 Impact on the Global B2B Mobility Sharing Market
The Covid-19 pandemic is wreaking havoc on the global mobility industry. Mandatory lockdowns have decreased public mobility, especially in urban areas. Individuals and companies have restricted their travel to only critical needs as a safety precaution. As a result, regular ridership for "shared mobility" services has dropped sharply in recent months, despite the fact that mass mobility alternatives have been severely disrupted. According to a survey, Uber is making 70% less trips in cities affected by the coronavirus, 81 percent of Uber and Lyft drivers have reported a drop in demand, and people are spending less on ride-hailing services. Henceforth, certain factors are responsible for the decline in sales of B2B shared mobility services.
Asia Pacific Region is Expected To Drive The Global B2b Mobility Sharing Market Over The Forecast Timeframe
Due to an increase in demand for vehicles and a rise in per capita income in the country, the B2B mobility sharing market in Asia Pacific countries is expected to grow at a rapid pace during the forecast period. Furthermore, China and India are two of the world's most populated countries, with a low ratio of vehicles per thousand people, which is expected to drive the B2B mobility sharing market in the region over the forecast period. Moreover, launches, partnerships of B2B mobility sharing service providers have influenced the market growth. Citing an instance, Robert Bosch purchased Splitting Fares, a Detroit-based ride-sharing service known as SPLT, in February 2018. This partnership aims to include everything from shared car rides to company buses on a single, easy-to-use platform with end-user mobile apps and simple ride booking. Again, Vulog, a company that specializes in shared mobility technology, recently announced the introduction of their latest B2B Suite, which is aimed at assisting customers in increasing and securing recurring revenue by targeting the B2B business segment. The B2B Suite enables mobility service providers to address businesses seeking cost-effective ways to get their employees back on the move safely and sustainably with the most advanced service currently available on the market. Shared mobility operators are continually searching for creative ways to improve their services, and the B2B Suite enables mobility service providers to address businesses seeking cost-effective ways to get their employees back on the move safely and sustainably with the most advanced service currently available on the market.? Henceforth, certain initiatives are expected to drive the shared mobility service market revenue, which is also contributing to the B2B shared mobility market.
Browse the full “B2B Mobility Sharing Market By Type (Car Leasing/Car Rental, Ride Sourcing, and Ride Sharing), By Service Type (Passenger Transportation, and Goods Transportation), and By Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Shuttles, Buses/Coaches, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/b2b-mobility-sharing-market.
The global B2B mobility sharing market is segmented as follows:
By Service Type:
By Vehicle Type:
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