News Global car-sharing fleet to grow by more than 13 per cent in 2018 By BMaaS Contributor Posted on May 22, 2018 3 min read View original post. New business models such as Mobility-as-a-Service are estimated to gain traction with the integration of mobility alternatives, research from Frost & Sullivan finds… The overall car-sharing vehicle population is expected to rise from 2017’s figure of 983,000 to over 1.2 million in 2018, due to motorists’ desire to use alternative modes of transport, the rise in employee mobility options and environmental concerns, a report from Frost & Sullivan states. Existing providers of recent mobility solutions like car-sharing, ride-sharing, ride-hailing, on-demand responsive shuttles and integrated mobility are already expanding their operations through mergers and partnerships. For example, BMW and Daimler recently merged their car-sharing units to become the global market leader, attaining over 30 per cent of the overall market. Smaller companies are trying to retain their market share by forging partnerships with bigger players and expanding their business models. However, in addition to the market competition, smaller operators have to contend with tight regulatory frameworks that often affect growth of the current mobility solutions. “The highly dynamic market for new mobility solutions is expected to follow an emergent growth paradigm that leverages novel business models, sectoral partnerships and consolidations,” said Geraldine Priya, Mobility Team Lead at Frost & Sullivan. “As business models diversify, we will see substantial investments in electric vehicle (EV) and autonomous vehicle (AV) pilots. Indeed, the ranks of operators offering self-driving cars for ride-hailing services are swelling, with Waymo following Uber and Lyft into this market.” Frost & Sullivan’s recent analysis, Global Mobility Industry Outlook 2018, examines seven business models – traditional car-sharing, peer-to-peer (P2P) car-sharing, corporate car-sharing, ride-hailing, ride-sharing, dynamic shuttle/demand responsive transit (DRT) and integrated mobility. Emerging growth opportunities include increased adoption of EVs, the enhanced need for sustainable travel, greater support from governments, real-time data procedures and partnerships between private and public transport operators. “While challenges exist in the form of regulatory outlook, competition and the advent of advanced technologies, the escalating demand for mobility solutions and new business and revenue streams offer ample opportunities to mobility operators,” noted Priya. [divider style=”shadow” top=”30″ bottom=”30″] Interested in publishing an article on BusinessMaaS? Get in touch with us here.