The Latin America, Middle East and Africa Shared Mobility Market would witness market growth of 18.9% CAGR during the forecast period (2022-2028).
Car sharing services have huge potential in terms of reducing pollution, traffic congestion, and energy consumption. Independent passenger vehicle utilization is reduced as a result of shared mobility, and people are able to achieve their destinations more quickly. By using shared mobility, the number of vehicles is lowered, and CO2 emissions are diminished, resulting in less pollutants in the environment. A typical vehicle emits 4.6 metric tonnes of carbon dioxide per year, as per the US Environmental Protection Agency. Each year, half a million tonnes of carbon dioxide are emitted into the atmosphere by thousands of vehicles in cities.
As a result of revived interest in urbanization and expanding environmental, energy, and economic concerns, the demand for sustainable alternatives has increased dramatically. Moreover, developments in electronic & wireless technology made it simpler and increasingly efficient to share assets and data. Due to this, innovative solutions spanning from huge physical networks to mobile applications intended to alter to change routes, occupy empty seats, and merge fare media with true arrival and departure data have sprung up from automobile manufacturers, venture-backed startups, rental car companies, and city-sponsored programmers.
The rising need for shared transportation solutions in many nations, such as the United Arab Emirates and South Africa, is boosting regional market growth. The government is developing new techniques to reduce traffic congestion and greenhouse gas emissions, which is expected to increase the regional market throughout the forecast period. Several regional players are continually working on latest features for shared mobility. In addition, a slew of new start-ups is experimenting with and launching new shared mobility applications in order to tap into the burgeoning industry.
The EV Green Charger initiative that provides an infrastructure of electric car chargers throughout the city, was unveiled by the Dubai Electricity and Water Authority (DEWA). This programme helps Dubai's efforts to create cutting-edge and environmentally friendly transportation options, lowering carbon emissions in the transportation sector, as part of the Dubai Green Mobility Strategy 2030. The continuing expansion of this project by DEWA and the introduction of its free-charging incentive have led to an increase in the number of registered electric vehicles in Dubai. These aspects and government support would surge the growth of the regional shared mobility market over the forecast period.
The Brazil market dominated the LAMEA Shared Mobility Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $8,977.3 million by 2028. The Argentina market is poised to grow at a CAGR of 19.5% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 18.5% during (2022 - 2028).
Based on Service Model, the market is segmented into Ride Hailing, Ride Sharing, Car Sharing, Bike Sharing and Others. Based on Vehicle, the market is segmented into Cars, Two-wheelers, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Shared Mobility Market is Predict to reach $454.4 Billion by 2028, at a CAGR of 15.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Lyft, Inc., Grab Holdings Inc. Avis Budget Group, Inc., DiDi Global Inc., Deutsche Bahn Connect GmbH (Deutsche Bahn AG), Uber Technologies, Inc., GT Gettaxi (UK) Limited, Ola Cabs (ANI Technologies Pvt. Ltd.), Share Now GmbH, and Global Car Sharing and Rental Co., Ltd.
By Service Model
By Vehicle
By Country
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