Australia Mobility on Demand market is expected to grow at a CAGR of over 12% by 2023

Growing population, increasing traffic congestions, rising urbanization and reduction in auto control, to drive the Australia Mobility on Demands Market through 2023

According to TechSci Research report, Australia Mobility on Demand Market, By Vehicle Type (Passenger Car Vs. Two-Wheeler), By Internet Connectivity Type (3G, 4G, Wi-Fi, and 5G), By Service Type (E-hailing, Ride Sharing, and Car Rental), By Vehicle Connectivity Type (V2P, V2I, V2V, and Others), By Company Forecast & Opportunities, 2023”, Australia Mobility on Demand market is expected to grow at a CAGR of over 12% by 2023 owing to rising demand for convenience & cost savings automobile, growing population and rising urbanization. Moreover, growing traffic congestions, continuous initiatives being taken by several vehicles manufacturing players and increasing inclination of consumers drives the Australia Mobility on Demand market. Furthermore, rising demand for real-time data drives the Australia Mobility on Demand over the next five years as well.

Moreover, the volatility of fuel prices coupled with the rising need for reducing Carbon dioxide emission from vehicles that cause air pollution will ensure robust growth of the Australia Mobility on Demands market during forecast period. Additionally, increasing government initiatives like the Product Emissions Standards Act 2017 involves framework for managing non-road diesel engine emissions by the end of 2019, encourages citizens to share rides and switch to taxies and cabs, and is likely to drive the growth of Australia Mobility on Demand Market by 2023.

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Based on vehicle type, the Australia Mobility on Demand Market is segmented into Passenger Cars as well as Two-wheelers. The Passenger Car segment is expected to lead the market in the next five years owing to the increasing adoption due to ease of booking, safety factors associated with four-wheelers and reduction in travel fare due to the use of shared rides. BMW AG, Lyft, Toyota Motor Corporation, IBM Corporation, General Motors Co., Robert Bosch GmbH, Uber Technologies Inc etc, are major companies operating in Mobility on Demands, in Australia.

New-South Wales leads the Mobility on Demands market in 2017, in Australia on the back of increasing population, growing technological advancements in hailing technologies as well as the ease of booking rides through either 3G, 4G or Wi-Fi. Alternatively, the rising fuel prices has propelled the users to switch to shared transport, driving the mobility on demand market.

“The rising popularity of carpooling or sharing, reduction of travelling expense and positive impact on the atmosphere by lowering the emissions of greenhouse gases are likely to drive the growth of the market in the coming years. Moreover, the ease of booking with the introduction of 4G coupled with the growing popularity of IoT will drive the Mobility on Demands market through 2023. Owing to the huge potential in the country, key players are investing heavily to develop their mobility on demand services network”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.

“Australia Mobility on Demand Market, By Vehicle Type (Passenger Car Vs. Two-Wheeler), By Internet Connectivity Type (3G, 4G, Wi-Fi, and 5G), By Service Type (E-hailing, Ride Sharing, and Car Rental), By Vehicle Connectivity Type (V2P, V2I, V2V, and Others), By Company Forecast & Opportunities, 2023” has evaluated the future growth potential of Australia Mobility on Demands market and provides statistics and information on market size, structure and future market growth. The report offers decision makers superior market intelligence, thereby enabling them conduct thorough investment appraisal. Besides, the report also analyzes the evolving market inclinations along with indispensable drivers, challenges and opportunities in Australia Mobility on Demands Market.

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