Shared mobility, which includes services like ride-hailing, scooter and e-bike rentals, and car-sharing, is expected to grow from 3% to 7% of all urban transport journeys globally by 2030, reaching a market size of $401 billion.
This is according to a new report from Oliver Wyman, a global management consultancy, based on data from Bolt, Europe’s largest operator in the sector.
The report, titled ‘Shared Mobility’s Global Impact’, reveals the economic, social, and environmental benefits of shared mobility for cities and their citizens.
In addition, it shows that shared mobility can create 16 million earning opportunities by 2030, mainly for ride-hailing drivers, who can earn well above the minimum wage or the average income in their countries.
For example, in Berlin, ride-hailing drivers earn 37% more than the minimum wage, while in South Africa and Nigeria, they earn up to 130% more than the average income.
The report also shows that shared mobility can provide affordable and accessible transport options for people, especially during the current cost of living crisis. Car owners who drive less than 15,000 km a year can save money by switching to shared mobility services, as the average European car is now driven only 11,000 km a year, down from 12,700 km a decade ago.
Moreover, the report shows that shared mobility can help reduce the environmental impact of transport by replacing car trips with lower-emission modes.
Data from Bolt scooters show that 10% of their rides directly replace car trips, resulting in a net positive effect even when accounting for the substitution of walking and cycling.
The report also suggests that a collaborative approach between operators and cities can cut private car usage by up to 20% in Berlin by integrating different modes of transport into a seamless and convenient system.
Dr Andreas Nienhaus, Partner and Head of the Oliver Wyman Mobility Forum, who led the study, said, “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.
Cars will still be a necessity for some depending on where they live or their job, but what this report shows is that combining the strengths of different stakeholders and creating a true multi-modal offering can have significant benefits for many, particularly those living in cities.”
Markus Villig, Founder and CEO of Bolt, said, “The shared mobility sector has grown to be used by millions of people over the past decade. In that time, we’ve seen shared mobility integrate into wider city transport systems, making it easier for people to move around and contributing to a reduction in transport emissions in cities. What’s exciting about this report is seeing how the impact can become even greater as the sector grows, and Bolt is committed to working closely with cities to ensure Bolt’s services continue to benefit them and their citizens long-term.”