The driving force of change: How technology has transformed mobility

According to data, India’s shared mobility market is projected to reach USD 3466 million by 2024 and technology will undoubtedly be at the core of driving this growth

Over the years, mobility has undergone a drastic change thanks to the advent of technology. A series of technological and social trends have contributed to the breakneck pace at which the mobility segment has transformed. Gone are the days when owning a car was seen as the ideal option.

The fast-paced lifestyle has brought about significant changes in the way we view car ownership. Shared mobility and electric vehicles have gained immense traction, the result of which is the emergence of an entirely new system of mobility that is quicker, more convenient, cost-effective, and commitment-free.

This fundamental shift in the mobility segment has been driven by technology.

While the pandemic has left a profound impact on the world and has effectively changed the way businesses function, it has thrown a catalyst that generates changes in the mobility ecosystem. Particularly for the shared mobility sector, the pandemic appears to smile upon it while it frowns on other industries. This is primarily due to how flexible and welcoming the sector has been in adopting cutting-edge technology in its day-to-day operations. On that note, let us take a look at how technology has been the driving force of change for the mobility sector.

Short-term subscriptions: A game-changer

The pandemic has almost erased the concept of purchasing a car for a variety of reasons, and subscription models are the trend of tomorrow. Offering the ideal solution to pandemic-induced challenges, subscription models are hassle-free. Sensing the opportunity, prominent players in the shared mobility segment have introduced short-term subscriptions that are extremely convenient and cost-effective. Besides, people who prefer to change/upgrade their vehicles can easily do so at a much lesser cost than buying a new car.

Subscription models also exclude the heavy maintenance cost that one would incur with ownership. A true game-changer, subscription models put comfort, convenience, and efficiency at the forefront and have become a significant contributor to the rapid growth that the mobility segment has achieved in a short period.

AI-integrated models with Keyless Entry systems (KLE)

As people opt for commitment-free, temporary ownership of cars, they look for user-friendly and accessible mobility. This is where AI-integration and smart mobility come into the picture.

AI has played an instrumental role in revolutionising the future of the mobility sector, much as it has done for other sectors. The onset of the pandemic has put safety and hygiene on top of the priority list and brands in the sector are going the extra mile to ensure that the best practices of hygiene are implemented.

With keyless entry systems that require little to no physical contact and real-time updates of vehicle sanitisation, rental car brands are leaving no stone unturned to offer customers a safe and comfortable experience. Technology has taken the safety aspect up a notch and the silver lining for companies is that it allows them real-time monitoring of the vehicle to avoid any loss or damage to the car. For instance, the gradual wear and tear which may be invisible to the naked eye can be pointed out by AI which allows brands to keep a check on rash driving and handling of the vehicle by customers.

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Tech-powered customer service

For every business, impeccable customer service is a necessity and the scenario is no different for brands in the mobility sector. Players in the sector are redefining customer experience by delivering a seamless one with the help of cutting-edge technology.

With features such as chatbots, 24*7 customer experience, the flexibility to reschedule or cancel bookings free of cost, and an integrated payment gateway, shared mobility brands are bringing everything under one roof with mobile apps for optimum convenience.

Time and again, technology has emerged on top by simplifying the process of navigating through challenges even amidst a global crisis. A force of change, it has reshaped mobility and continues to set the dynamics that will determine the future of the industry.