Revenues from mobility as a service (MaaS) platforms are set to exceed $52 billion by the year 2027, as the public transport sector undergoes wide scale changes in the coming years.
A new report, published by Juniper Research, suggests that MaaS platforms, which unify different transport services (such as buses, taxis and metro services) in a single app, will experience an exponential rise in popularity.
“MaaS will require wholesale shifts to public transit in order to realise its full benefits, so it must involve public transit operators at every stage. The platform licensing model is essential to building the required public/private partnerships to achieve success,” said research author Nick Maynard.
The Juniper research report, entitled Mobility-as-a-Service: Business Models, Vendor Strategies & Market Forecasts 2020-2027, suggested that the rapid growth in revenues for MaaS platform operators will begin to take effect from 2021, as there will be significant reductions in transport usage in 2020 due to the Covid 19 pandemic.
The research anticipates that the pandemic will restrict the growth of MaaS platforms in 2020, but that MaaS initiatives will rebound quickly in 2021 as cities re-evaluate their transport strategies. It recommends that MaaS platform providers engage with transit authorities now to design pilots for 2021, in order to ensure future growth.