Mobility-as-a-service (MaaS) market is likely to generate fuel cost savings of $10.8 billion by 2027 globally from $2.8 billion in 2022 - a growth of 282 per cent, a new report said on Monday.

MaaS platforms provide consumer urban transport solutions, such as ride hailing, bus and metro, integrated into a single platform.

Nearly 41 pc of respondents ranked the cost of transport as being the most important factor when it comes to transportation. Juniper Research’s Urban Mobility Survey shows MaaS growth is due not only to it being a cheaper travel alternative but also to the convenience it provides by offering transportation with planning, purchasing and ticketing combined in a single app. It said the CO2 reduction from private car journeys displaced is also fuelling the growth of MaaS.

“MaaS has the ability to improve CSR.. As a result, MaaS vendors must appeal to companies by demonstrating how MaaS can significantly reduce their carbon emissions from travel,” said research author Cara Malone.