IS420YAICS1B Servitization is a huge trend that will affect almost every industry.

With more and more people living in large, densely populated cities and growing concerns about CO2 emissions, individuals have fewer and fewer days to freely drive their own cars, and private car ownership is becoming more difficult. Moreover, with the rise of ride-sharing services such as Uber and Didi Chuxing, ownership models in the transportation sector will be more complex and layered than traditional private ownership models, and most urban residents may not need IS420YAICS1B to own cars at all in the future.

As a result, more and more people are likely to rely on “mobility as a service” (MaaS) providers for their transportation needs. The term MaaS was first used at the European Intelligent Transport Systems Conference in Helsinki in 2014. Companies like Uber may technically fall into this category, but future MaaS operators will offer customers multiple mobility options through a single payment channel and interface.

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IS420YAICS1B For example, with a MaaS service provider, on a typical day, users can rent a car for a few hours during the day, rent an e-scooter in town later in the day and take public transport home – all through one platform. The key concept of the MaaS service is to provide customers with low-cost, convenient and green travel packages that allow customers to gain mobility rather than ownership.

The new generation of MaaS services is being widely used in Japan, IS420YAICS1B China and the United States. According to the survey statistics, in 2020, the global MaaS market size is 12 billion US dollars, with an average annual growth rate of more than 30%, and by 2026, it will increase five times in 2020 to reach 60 billion US dollars.