A new study has found that mobility-as-a-service (MaaS) subscribers will generate US$53bn in revenue for MaaS platform providers by 2027 – rising from US$5.3bn in 2021.
The study, conducted by Juniper Research, identified a monthly subscription model as key to increasing adoption of MaaS among consumers. MaaS is the provision of multimodal end-to-end travel services through single platforms, by which users can determine an optimal route and price.
The research, however, cautioned that, until users trust the proposition of a subscription-based transport service, MaaS platforms must ensure pricing models are flexible, for instance, by offering pay-as-you-go journeys and short-term subscriptions.
The report, Mobility-as-a-Service: Business Models, Vendor Strategies & Market Forecasts 2021-2027, recommends that platform providers leverage account-based ticketing to provide flexible pricing models. Account-based ticketing allows travelers to be billed on account, with smartphone apps, travelcards, and wearables used to prove travel eligibility.
However, the research warned that account-based ticketing will require significant digitalization of transportation networks, which is already widespread in Europe and Asia Pacific. It accordingly predicts that over 85% of MaaS subscriber revenue will be attributable to these regions by 2027.
Research author Adam Wears said, “Account-based ticketing is an essential prerequisite for MaaS, given that it enables multimodal interoperability and supports the accurate apportionment of revenue between transport operators, both of which are key to driving mobility partnerships and buy in from local authorities.”
The report also discussed how business travelers globally will use MaaS platforms to complete 25.7 million business trips annually by 2027, as companies look to minimize spend associated with corporate travel, such as fleet maintenance.
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