The main factors responsible for the growth of the industry are the low cost and expediency of these kinds of mobility services, increasing concerns over GHG emissions, vehicle electrification, increasing acceptance of carsharing services in emerging economies, and deteriorating congestion of urban roads.

Executive cars had the largest demand in the recent past. This will grow at a healthy growth in the years to come. The main reason for this is the lower rental cost of these cars, based on the ease and quality offered to consumers, which inspires their acceptance of P2P carsharing services.

APAC will have the fastest growth in the coming years. People’s Republic and India have increased their emphasis on new mobility services and EVs. Furthermore, in China, there has been an upsurge in the use of EVs across carsharing platforms, for promoting a greener environment. With incessant government support in terms of incentives and policies, the demand for P2P carsharing in China will grow at a brisk pace in the years to come.

With vehicle ownership costs rising recently, many people have started shifting toward more available, low-priced, and hassle-free transportation, like, P2P carsharing, car-pooling, and vehicle rental, all of which are included in the MaaS ecosystem. The services permit users to organize their trips and offer travel options based on their travel needs. MaaS is based on a digital platform combining payment, online booking, end-to-end trip planning, and numerous extra services.

The environmental concerns raised by various organizations about the deteriorating air quality caused by the increasing quantity of exhaust fumes released by cars call for numerous government measures. Nations are taking steps to decrease emissions by decreasing the use of private vehicles. Carsharing services are a rather effective way of reducing pollution, as their increasing use would help lessen the count of private vehicles, thus dropping the quantity of CO2 released into the air.

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