The Online Mobility Services Market Is Booming

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The Online Mobility Services Market Is Booming

A large part of what we write about on Bicle.com is the way E-mobility is incorporated into our lives. We often speak of what possible solutions the E-mobility industry can give us and especially focussing on the service part of mobility. But in this article, we will alter that focus and concentrate on the size of the mobility service market.

The online mobility services

We chose one specific side of the mobility industry and that is the offering of online mobility services. Statista defines them as follows: “The Online Mobility Services segment includes flights, ride-hailing services, long-distance bus travel and train tickets that are booked online as well as car rental hires that are made via the Internet. These services are booked directly via the website of the service provider or via online travel agencies (OTAs). Users represent the people who have booked tickets, independent of the number of travellers listed on each booking.” According to data provided by Statista, the industry will have a revenue of $454,621 million in 2019. It’s also believed that the market will grow 6,8% annually until 2023, which will lead to a total of $592,024 million in revenue. Most of this revenue is generated in the United States of America, worth $310,847 million. That’s roughly 70% of the total.

Ride-hailing grows te most

These online mobility services can be found in different means of transportation. For this specific segment, the attention is focused on car rentals, flights, ride-hailing and trains & busses. All of these categories will grow in the coming years leading up to 2023, but a special mention for the ride-hailing is required. Ride-hailing - also known as peer-to-peer ridesharing - is a service wherein a person drives his or her own car and comes at the need of the customer. One of these services is the app Uber, which has been quite popular all over the world. According to the stats provided by Statista, ride-hailing had roughly 383 million users. This will grow in the next years and will have 693 million users in the year 2023.

Relatively young users

It’s kind of expected that the users of such online mobility services are rather young. This has everything to do with the novelty of the technologies and that can be found in the numbers as well. The numbers that are provided again come from Statista and they tell us a few interesting things. Approximately 33.3% of the users of online mobility services are between 25 and 34 years old, which makes up for the largest group. This group is closely followed by the age group 35-44-year-olds, which amounts for 24% of the total. Together they represent more than half of the total usage of online mobility services.

We at Bicle would love to know your thoughts on this. Did you expect that the market would be this big in revenue? Or did you think the numbers were different? Let us know in the comments down below!