Shared Mobility Telematics Market 2027: Expected Rapid Growth of Industry Size and Share

TechSci Research's report "Shared Mobility Telematics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027" predicts a remarkable CAGR for the global shared mobility telematics market during the forecast period, due to the increasing demand for car-pooling and car-sharing services. Factors such as rapid urbanization, the expansion of the automotive industry, growing vehicle fleets, and various environmental issues are expected to fuel the growth of the market over the next five years. In addition, rising environmental concerns have prompted consumers to opt for car-sharing and car-pooling services, as toxic exhaust from cars has led to environmental degradation. Governments have introduced strict regulations to reduce fuel consumption and harmful emissions from vehicles, which is further boosting the growth of the global shared mobility telematics market. The shared mobility industry suffered a drastic impact due to the COVID-19 pandemic, particularly in the automotive sector. Restrictions and regulations to control the viral spread resulted in a complete shutdown of cab-sharing, car-pooling, and ride-hire services, causing a financial crisis for vehicle drivers who rely on these services for a steady income. However, with the relaxation of rules and regulations and effective precautionary measures, shared mobility services have resumed, and consumers have resumed using them. As a result, the global shared mobility telematics market is expected to regain its composure and continue to grow through 2027.