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The corporate mobility industry is poised to grow as the shift from private cars to multimodal solutions takes place. Transport solutions for companies have traditionally comprised private cars for employees along with a few spare company vehicles and have essentially been about the total cost of ownership. However, with growing financial viability concerns in an increasingly competitive market environment, along with a pressing need to reduce the carbon footprint, corporates are seeking a shift toward shared corporate mobility solutions. While so far, leasing companies have primarily catered to transport solutions for organizations, a wide range of service providers, such as rental companies, travel management companies, IT platforms, tech platforms, and OEMs, are now offering new mobility services that shift the focus from ownership to usage to mobility. Operators are focusing on creating long-lasting, engaging relationships with customers and addressing their nuanced demands, such as employee parking needs, utilization of company assets, flexible work timings, and de-carbonization. This study is focused on analyzing the current state of the corporate mobility market and identifying key underlining challenges and growth opportunities for various stakeholders across the value chain. The scope of the study revolves around the overall corporate mobility market, which includes corporate carsharing, ridehailing, micro-mobility sharing, corporate shuttles, corporate ride pooling, public transportation, Corporate MaaS/mobility budgets as the subsegments. The geographic scope of the study is global. In 2021, the market opportunity from corporate mobility will be approximately $233.99 billion. This is expected to cross $517.84 billion in 2030, accounting for the changes in the market due to the COVID-19 pandemic. Rising congestion and pollution within cities have resulted in more emphasis on providing for corporate mobility solutions for cities to meet their sustainability targets. This has resulted in firms exploring new technologies and services to alleviate some of these growing issues. Corporate mobility is rapidly developing, and this space is seeing a lot of new start-ups. Flexible mobility, business leisure, real-time data analytics, mobility budgets, sustainable mobility, and integrated mobility are expected to be the defining trends in the corporate mobility market. Public transport is still one of the key modes of transport for commuters, especially in the APAC region. By integrating it with other first- and last-mile solutions, corporates can provide a complete end-to-end flexible solution. The overall addressable market for public transportation is expected to grow from $149 billion in 2021 to $294 billion in 2030, growing at a CAGR of 7.9%. This is an opportunity for corporate mobility providers to provide the necessary solutions that can optimize employee commuting with flexible solutions. The study comprehensively covers the key markets, drivers and restraints, strategic decision-making factors, growth dynamics, and market trends in various segments of the corporate mobility market.
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Author: Geraldine Priya
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