Ecosystem of Car Mobility-as-a-Service Market in Thailand
Thailand Car Mobility-as-a-Service Market is at growing stage with highly fragmented market with more than 2,000 players in the market. All players are competing against with each other on the basis of base fare, avg ticket size, waiting time, fleet size, no of drivers, daily rental price and revenue.
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- Newer business models such as ride hailing and car sharing that integrate well with shared mobility ecosystem like public transport are expected to achieve high growth.
- The boom of travel and tourism industry will also lead to rise in demand for car rental and leasing as tour operators and hotels will increasingly offer private car rental to their customers for which they lease their fleet.
- Increased demand for leasing from corporate sector will lead to steady growth rate of fleet size of leasing companies in Thailand.
Growing tourism: The demand for car mobility services has grown over time as a result of rising international and domestic tourism, as these services are practical for commuting inside cities and have clear pricing. The introduction of LTR Visa will make it simpler for tourists with high spending levels to remain in the nation for longer. Through a variety of specialized marketing initiatives, the nation is casting a wider net in an effort to draw a wider range of tourist demographics.
Online Car Rental Booking Services: As moving toward digitalization improves operational revenues as well as customer experience, online companies will become more and more popular in the provision of car mobility solutions.
Technological Advancement: The primary drivers of the growth of the nation’s car rental services will be preferences for the use of technologically advanced personal vehicles coupled with an increase in disposable income.
Smartphones Proliferation: Proliferation of smartphones has gone from 80% to 81% and internet penetration has increased from 85.3% to 92% over the period of 2021-2022, which has led to considerable growth for mobile application-based business models. This will not only make these services more accessible but also more affordable with increased competition and transparent pricing.
Analysts at Ken Research in their latest publication “Thailand Car Mobility-as-a-Service (MAAS) Market Outlook to 2027- Driven by Rising tourism, technological developments and booming automotive manufacturing” observed that Car Mobility-as-a-Service Market in Thailand is at growing stage. The consumer preferences, internet and smartphone penetration, growing tourism with government initiatives is expected to contribute to the market growth over the forecast period. The market is expected to grow at an 6.1% CAGR during 2022-2027.
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