Technology has redefined the mobility ecosystem in the last few years. With EVs and smart vehicles coming into the picture, customers now want a superior experience. Due to numerous factors like customer convenience, environmental concerns, and digitization, this industry has seen a plethora of changes and innovations. But how will technology shape the course of Mobility Industry in 2023? While some trends continue to prevail with advancements, we will witness new concepts making the list:
One significant progress in the MaaS space is the rise of Mobility Service Providers. These intermediaries between users and service providers of transportation deliver real-time data about traffic, delays, and other routes. Customers can access several modes of transportation with a single purchase thanks to MSPs’ pay-per-use service options.
Battery as a Service: This concept was brought about as a result of concerns regarding growing fuel prices, rising pollution levels, and climate concerns. In this year’s Budget announcement, the government proposed to bring a battery-swapping policy to boost the use of electric vehicles in the country in view of space constraints for setting up charging stations. Further, the private sector would be encouraged to develop sustainable and innovative business models for ‘battery-as-a-service’ to improve efficiency in the EV ecosystem.
Some businesses have already established automated automobile switching stations in China and the US, which is especially helpful for fleet managers of commercial vehicles. Indian companies offering battery-swapping solutions are Sun Mobility, Lithion Power, and Chargeup. The first interchangeable battery scooter in India was recently introduced by Bengaluru-based Bounce, which also runs a battery-swapping network.
Source: McKinsey and Company
One notable development in 2023 is micro transit. These small, on-demand shuttle services can be called using a mobile app. Although most micro vehicles were initially privately owned as their largest market was the European Union and China, it is gaining more popularity at the global level.
2023 will be an exhilarating year for mobility, with many developments in electric and autonomous vehicles, MaaS, shared mobility, and the IoT. These trends are set to shape the way people move around cities and offer a more efficient, sustainable, and personalized travel experience. With the Union Budget facilitating subsidy extension of batteries and reduction in customs duty on lithium cells, electric vehicles will see a rise in production as well as consumption. But how businesses will create better customer experiences for the next-gen customers, is something that we would find out soon.
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