The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreJun 2020
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The shared mobility scene is intensifying with more firms emerging and catering to the growing digitalised global community. Yet high levels of competition, the relatively small shared mobility market and quite recently, coronavirus, are challenging existing mobility providers. In response, companies are diversifying into new areas of business such as deliveries and financial services, which is contributing to the rise of all-in-one portals, better known as super apps.
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The shared mobility space has become highly saturated with ride-hailing, car-sharing and various micro-mobility services sprouting up across the world’s cities. But the growing competition is making companies realise that limiting their exposure to consumer mobility is risky and diversification into areas such as foodservice deliveries and fintech is needed to maintain competitiveness and profitability. Ultimately, this is proliferating the growth and popularity of super-apps, all-in-one portals providing users with a variety of services.
Major global cities such as New York, London and Tokyo have been the primary nodes of investment for mobility companies. But this has saturated major cities and has led to firms entering secondary and tertiary cities for deeper market penetration and higher yields.
Reduced demand for mobility has led to massive drops in bookings, putting some firms in severe financial difficulty. However, others have used the situation to their advantage by raising brand awareness. For example, Uber has actively supported hard-hit communities by offering free rides and deliveries to essential workers and high-risk population groups.
Mobility firms are jumping on the bandwagon to create fully driverless vehicles. Uber, Lyft, Yandex.Taxi and Ola, are just a few of the companies testing robo-taxis, with many expected to launch commercial services by 2025. Increased attention to autonomous vehicle technology has also come to the fore during the COVID-19 crisis given its ability to preserve social distancing, thereby improving safety.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.