Emerging technologies will help generate new revenue streams for Mobility-as-a-Service (MaaS) providers, according to a new report from Frost & Sullivan.
MaaS is the integration of various forms of transport into a single mobility service, accessible on demand. MaaS platforms are currently active in 20 cities around the world and operators are rapidly expanding to many more, the market research and consulting firm said.
“MaaS will generate new revenue streams with the rise of innovative technologies that enable greater flexibility and simplicity,” commented Shwetha Surender, industry principal for mobility at Frost & Sullivan.
“Cryptocurrency and smart contracts especially can pave the way for novel business models and revenue streams for operators.
“With wide-ranging use cases such as addressing first- and last-mile connectivity issues as well as integrating public transits and payments into a single application, MaaS is expected to attract larger investments.”
The report predicts that the market will generate revenues of $34.53bn (£25.9bn) by 2030, up from $61.3m (£45.9m) in 2018.
E-hail and demand-responsive transit (DRT) are expected to account for a significant share of revenues by the end of the next decade, Surender said.
MaaS operators could also gain a competitive advantage thanks to solutions like semi or fully autonomous features that can be enabled/disabled based on the driver’s membership.
According to Frost & Sullivan, operators can make the most of growth opportunities by:
- Finding innovative ways to maximise the use of their autonomous fleets by expanding into areas such as parcel delivery and environmental services;
- Exploring new ways to accelerate the deployment of autonomous vehicles into a shared fleet. OEMs and technology companies with AI expertise should capitalise on the changing mobility dynamics;
- Collaborating with public and private transport players to offer public transit tickets with payment options;
- Focusing on developing autonomous MaaS; and
- Investing in blockchain technology to ensure seamless MaaS connectivity.
Reliable and widespread connectivity is underpinning innovation around MaaS, says Osborne Clarke’s Next-generation connectivity report. Download your free copy to learn more!