From ride-hailing services to electric scooters, shared mobility will capture a 7% share in all urban transport journeys globally by 2030, up from 3% at the moment, according to a report published on Tuesday.
The report by consultancy Oliver Wyman, published during Europe's largest tech conference, Lisbon's Web Summit, said the market size of shared mobility was forecast to reach $400 billion by 2030.
Shared mobility has emerged as a "more sustainable model" to solve various transport hurdles, such as cost and emissions, the report says.
"The mobility sector has changed dramatically in recent years and in addition to cars there is now a range of different modes of transport available to people," said Andreas Nienhaus, head of Oliver Wyman's mobility forum.
Olive Wyman used data from ride-hailing and food delivery startup Bolt to put together the report.
"The shared mobility sector has grown to be used by millions of people over the past decade," said Bolt CEO Markus Villig. "We've seen shared mobility integrate into wider city transport systems."
But the industry has also faced criticism, the report highlighted.
It has been blamed for contributing to congestion and emissions by adding more trips to already congested roads, safety concerns have been raised over electric scooters and it has been criticized for the poor working conditions its drivers often have to endure.
The report said more than 9 million people were estimated to earn an income from shared mobility services in 2023, and the number was forecast to grow to 16 million by 2030.
The report said shared mobility had the potential to significantly reduce urban emissions but the "overall impact is currently mixed" as it depends on factors such as consumer behavior and coordination with other modes of transport.
Electric scooter usage patterns show that 10% of rides directly replace car journeys, the report said.
