How sharing economy and mobility trends are shaping the post-pandemic world

COVID-19 is reshaping mobility patterns and the sharing economy around the world. Some of these shifts may be momentary, but will inspire future action. Many other developments, however, are likely to become permanent fixtures of our daily life as we embrace the “new normal” of a post-pandemic society and economy.

What’s driving the mobility revolution in Asia?

The first wave of mobility startups were born on the heels of a financial crisis, and at the start of a smartphone boom. Now, with smartphone penetration up from 20% to 73% per capita in the US, from 18% to a projected 83% by 2025 in Europe, and over 80% in Asia Pacific (APAC) by 2025, the tailwinds have only gotten stronger. 

In Asia, China, India and Indonesia are expected to make up the world's top three largest smartphone markets by 2025, according to a report by GSMA Intelligence. With its use in the APAC region increasing by 70% in 2020, smartphones have become key drivers of the mobility revolution as consumers increasingly rely on their mobile devices to shop, commute, and make payment. Research by checkout.com found that 63% of APAC consumers most commonly shop within a mobile app, a trend that fuels the demand for last-mile delivery services. 

Emerging from the pandemic, the Asia Pacific is poised to usher the next wave of mobility and sharing economy startups. A handful of new entrants and fledging startups could become the unicorns of the future, if they successfully navigate the complex and changing risk landscape.

Charting the road map to success in the sharing economy and mobility sector

In the pursuit of success, companies businesses will not look at risk and insurance as a “top three cost,” as many do today — but as an opportunity to build trust and gain competitive advantage. By understanding global trends and managing downside risks, clear winners will emerge who will define how we move, share, and trust in the years to come.

Marsh’s new paper Mobility in a post-pandemic world: From evolution to revolution explores these trends and discusses how risks are evolving for mobility platforms. Complete the form on this page to download your copy.

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