China is poised to become one of the world’s largest MaaS markets, according to ARK Invest. Mobile app based ridesharing services have grown rapidly in China, as has the urban population. ARK estimates that the market for MaaS in China could rise to $2.5 trillion by 2030. China is particularly poised to embrace MaaS due to: a majority population unlicensed to drive (80%); low average income relative to vehicle prices; and the difficulty of obtaining a car in China.
According to ARK’s research models, China will become one of the largest markets for autonomous mobility-as-a-service, reaching $2.5 trillion by 2030. At the same time, automobile sales in China could fall below expectations as a result of autonomous taxi services.