06 Aug 2019
Shared mobility sector attracts $48bn investment in just three years as self-driving robotaxis are predicted to be commonplace by 2035, says GlobalData
More than $48bn worth of mergers, acquisitions and investments in the shared mobility sector have been tracked by GlobalData, a leading data and analytics company, from the start of 2016 to the end of 2018. These historic levels of investment are a clear indication of the significant impact shared mobility will have on the transport sector.
Shared mobility is a catch-all term for transport services where the means of getting around is shared between multiple users. This includes ride hailing companies such as Uber or Didi Chuxing, car sharing providers such as ShareNow, and carpooling services such as BlaBlaCar.
GlobalData’s latest report, ‘Shared mobility – Thematic Research’, reveals that, if development of shared mobility networks continues at its current rate, self-driving robotaxis will become a commonplace transportation option by 2035. The report tracks the biggest financial deals in the shared mobility theme and details the activities of 15 of the most significant companies in the field.
Mike Vousden, Automotive Analyst at GlobalData, commented: “Consumers are becoming ever more comfortable with the concept of having access to a shared product without the financial burden of private ownership. There is a momentum towards these services, whether that is shared cars that can be rented for a few hours or a network of autonomous taxis that can be summoned to your door via a smartphone app.”
If predicted use levels are realised, shared mobility services could lead to a drop in private vehicle ownership as consumers ditch the cost of keeping a vehicle in favour of only paying for mobility when they need it. Those that keep their private vehicles can offset the cost of ownership by exploiting new peer-to-peer sharing services to lend their cars out to other users when they’re not needed.
Vousden continues: “Companies in the auto sector need to decide what role they will play when shared mobility begins to challenge private vehicle ownership. Considering the high financial and technological barriers to breaking into shared mobility, many automotive firms will engage in partnerships with established companies in the field before financing their own products and services.”