The future of shared mobility and connected mobility in India
Using shared vehicles for transportation and enhancing mobility solutions with seamless connectivity features are two concepts that are expected to drive the future of mobility in India. This blog talks about the bright future of shared and connected mobility in India.
Shared Mobility
Shared mobility refers to the shared use of any vehicle. It consists of various transportation mediums, including car sharing, on-demand ride services, and peer-to-peer ride sharing.
By 2030, as per Morgan Stanley, shared miles will amount to 35% of the miles travelled in India, making the country the shared mobility leader. Not only that, it will also significantly reduce personal car ownership. App-based transportation services will reduce public transportation, since it is more cost-effective. According to many stakeholders, the shared mobility industry will boom immensely and become a popular mode of transportation in considerably urbanized areas. Innovation is also going to play a vital role in accelerating the expected growth of the industry, with models like cab-pooling and pay-later.
The rate at which this rise will happen mostly depends on three factors:
Asset Utilization
The ability of cab aggregators to utilize their assets will be a determinant to assess how much they can expand, and how affordable their services can be.
Clarity in regulations
Clarity will not only simplify compliance, but also draw more people’s attention by inspiring them to join the movement.
Vast investments
Various cities in India are already investing good amounts of capital to advance their transport infrastructure.
Car clubs will be a major contributing factor in the growth of shared mobility in India, since that is another way one can use a shared vehicle. People can lease cars for as long as they want and pay only for the amount of time that they use it. However, the concept of car clubs still has not been introduced in India, as taxis are still affordable.
Connected Mobility
Since everyone is digitally connected in today’s world, seamless connectivity can bring services, technology, travelling experiences, and vehicles together to form integrated mobility solutions. This will feature real-time information, automatic check-in, geo-localization, entertainment, and customized services. Besides, it will also assess driving behaviour.
There are several connectivity-linked apps in India. With proper algorithms and appropriate hardware, many startups have already started building solutions that enhance safety and security, enable repairs in a timely manner, and track vehicle movement. A tiny number of vehicles in India do come with connectivity features, but the concept is yet to gain its share of popularity in India.
However, the downside of connected mobility involves various risks like data security, cyber threats, and privacy concerns. In addition, it will also affect OEMs, insurance companies, telecom operators, and technology companies. So, the future definitely seems bright, if the adverse effects can be minimized by ensuring proper safety and security measures.