Bloomberg — The transition to electric vehicles continues around the world. Sales of these types of cars are expected to more than triple by 2025, even though customers pay a premium for them.
But What about the prospects of drivers switching to shared vehicles, rather than owning them, as the decade progresses?
According to a recent study by the Oliver Wyman Forum and the Institute for Transportation Studies at the University of California, Berkeley, change is happening fast.
The report is optimistic even though public transport (the most efficient way to achieve a more sustainable future) has been largely affected by the pandemic, considering that it has led people to abandon trains and buses in favor of vehicles. private..
The study points out that mobility services, that include the use of cars, bicycles and monopatines, así como las suscripciones a vehículos y transporte compartido, podrían crecer a 10% al año during the restaurant of the decade, in comparison with el 5% del sector del transporte in general.
Revenue from these services, which also include charging and navigation apps, could reach $660 billion by 2030, a huge jump from $260 billion in 2020.
The authors of the report wrote that “by the end of the decade, more applications, shared services and electrification will greatly expand the range and modes of mobility”.
The changes are driven by both regulation and consumer demand. Cities are leading the charge by restricting the use of old vehicles, which is evolving in some regions towards an outright ban on gasoline and diesel-powered cars.. And consumers are more open to digital, demand-based services and those that are cheaper. More than half of respondents in Oliver Wyman’s study said affordability was a key factor in their choice of mode of transportation.
The trend also differs from region to region depending on the availability of public transport, traditional modes of travel and population density.. In North America, where the car is often preferred due to sprawling cities and lack of public transportation, there is a natural demand for transportation app services.
Public transport in Europe, on the other hand, is highly developed. According to the study, the pandemic has severely affected mobility in the region, with carpooling replacing public transport for some people.
In Asia, car rental and car sharing are expected to grow rapidly as industrialization and urbanization in developing countries drive demand for cars. India and Malaysia are the region’s largest markets for car subscription. But two major markets, China and Japan, could see their growth constrained by the social status attached to car ownership and insurance costs.
Report concludes that consumer mobility demands are evolving in seemingly contradictory ways. On the one hand, people want cheap options, but on the other, the pandemic has accelerated the move away from public transport, which is the cheapest service available.
Ultimately, consumers want agile, on-demand and affordable transportation, which creates challenges that are difficult to reconcile. In this environment, new entrants will struggle to make money while trying to meet these demands.
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