The way we get around is changing. Ride-hailing and car-sharing services have built the mobility-as-a-service industry into a significant market force. And those services are expected continue to grow at incredible rates throughout the next decade, even despite the impact of the pandemic.
Simultaneously we have witnessed a generational shift in car ownership attitudes. Factors like convenience and utility are becoming primary concerns while fewer individuals are viewing car ownership as a necessary status symbol. In some regions, outright vehicle ownership will soon become a less common way to access a vehicle than through rentals or rides.
In a more connected society that thrives on convenience, speed, and efficiency, people are enjoying the low-commitment, on-demand aspects of mobility-as-a-service. It may become a key driver of growth and profitability for many businesses, communities, and individuals. Automotive manufacturers are recognizing this trend too, investing in the existing digitally-enabled ride/share services or building their own.
In this video from WPP TV, Giles Graham, our Global Automotive Director, gives a brief overview of the state of mobility-as-a-service and the factors that will influence its future.