Shared cabs, electric scooters to employ 16 million, become USD 400 billion market by 2030: Report

A report released on Tuesday predicts that shared mobility, encompassing ride-hailing services and electric scooters, is poised to comprise 7 percent of worldwide urban transport journeys by 2030, a significant increase from the current 3%. As per Reuters, consultancy firm Oliver Wyman, unveiled the report during Lisbon’s Web Summit, anticipates the market size of shared mobility to surge to USD 400 billion by 2030.
Identified as a “more sustainable model” addressing cost and emissions challenges in transportation, shared mobility has witnessed substantial growth, offering diverse transport options beyond traditional cars.Andreas Nienhaus, head of Oliver Wyman’s mobility forum, notes, “The mobility sector has changed dramatically in recent years, and in addition to cars, there is now a range of different modes of transport available to people.”

Utilising data from the ride-hailing and food delivery startup Bolt, Oliver Wyman compiled the report. Bolt CEO Markus Villig acknowledged the widespread adoption of shared mobility, emphasizing its integration into broader city transport systems.
However, the report underscores criticism faced by the industry, including accusations of contributing to congestion and emissions, safety concerns regarding electric scooters, and concerns about the working conditions of its drivers. Despite these challenges, the report estimates that over nine million people will earn income from shared mobility services in 2023, with projections reaching 16 million by 2030.
While shared mobility has the potential to significantly reduce urban emissions, the report highlights that its “overall impact is currently mixed,” influenced by factors such as consumer behavior and coordination with other transport modes. Notably, the report reveals that 10 percent of electric scooter rides directly replace car journeys, indicating shifting usage patterns in the evolving landscape of shared mobility.