Growing disposable income, inadequacy of the public transport infrastructure and the demand-supply gap will lead India's shared mobility sector to reach nearly 15 crore users by 2025, a new report showed on Friday.
Since the public transport infrastructure is woefully inadequate to meet the burgeoning demand of an increasingly mobile population looking for convenience and affordability, nearly five times growth is expected in the shared mobility market over the next few years, according to homegrown management consulting firm Redseer.
"In the years to come, the shared mobility sector will witness greater democratisation with the share of moto increasing against the backdrop of low ARV and geographic penetration into smaller cities," said Siddharth Surana, engagement manager, Redseer.
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By 2030, India can also expect to see more categories evolving.
"Penetration in non-metros will also increase, giving a boost to the economy, and creating a viable revenue-generating opportunity for more than three million drivers across various platforms," Surana added.
Currently, shared mobility services cia auto, bikes and cars are being used by people for visiting someone, travelling to office and other entertainment purposes.
With the increased year-on-year growth expected in non-metros, the Indian market will evolve to add more categories.
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The research suggested that the Indian mobility market, while growing in line with the overall global trend, will see some localisation like rapid traction for two wheelers and three wheelers.
Post Covid, bikes and autos have been seeing rapid traction, gaining share quickly within the wider market.
