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Micro Mobility Market is Projected to Grow at a CAGR of 17.03% by 2025

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bisresearch reports
Micro Mobility Market is Projected to Grow at a CAGR of 17.03% by 2025

Mobility as a service (MaaS) providers have established a strong foundation for the development shared mobility ecosystem, which has the potential to ensure high resource utilization rate unlike the conventional method of personal vehicle ownership model. The foundation also leads to an essential fact that there are gaps in MaaS and end-to-end connectivity; and here, micro mobility performs as a bridge between shared services and their end-to-end connectivity. Micro mobility service is the efficient use of light, compact, and swift modes of commute majorly powered by human or electric. The micro mobility as a service came into existence in China, driven by Mobike – a bicycle-based ride shares service providers.


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Competitive Landscape


The global micro mobility market competitive landscape consists of different strategies undertaken by key players across the industry to gain traction and market share presence. Some strategies adopted by the service providers are new product launches, business expansions, mergers, partnerships, and collaborations. Among all these strategies adopted, business expansionis the popular choice of the strategy implemented in the micro mobility market. Some of the most prominent ecosystem players are Lime, Bird Rides, Inc., Skip, Mobike, Spin, Uber Technologies, Inc., Yulu Bikes Pvt. Ltd., TIER Mobility, Ofo, Lyft, Inc., DiDiChuxing, Neuron Mobility, Beam Mobility Holdings Pte. Ltd., VOI, and Hellobike.


Some of the notable developments are:


• Lime, in June 2018, launched its electric scooters in Paris to target Europe.

• In June 2019, Bird added new vehicle to its fleet: a two-seater electric bicycle with an LCD screen.

• In May 2019, Bird introduced a new e-scooter called Bird One.

 

Key Questions Answered in this Report:


• What is the global micro mobility market size in terms of revenue from 2019 to 2025?

• What are the major consumer demands and expectations effectively fulfilled by micro mobility?

• What is the potential impact of COVID-19 on the micro mobility market?

• What are the drivers, restraints, and opportunities for the market for the period of 2019 to 2025?

• What are the impacts of micro mobility service to the global environmental issues?

• What are the key developments and strategies of the companies in the market?

• Which region is estimated to have the highest market potential in the period 2019-2025, and how is the market expected to grow in the same period in other regions?

• Which are the key companies in the industry, and how are they expected to perform in the ecosystem?

• What is the market forecast by application and product for the period 2019 to 2025?

• What is the estimated market value by region during the period 2019-2025?

 

The micro mobility technologies have currently witnessed a sudden upsurge due to many factors, some of which are detailed below:

  • The reduction in cost of mode procurement
  • Growth in technical capability and advance design skills which enabled development of efficient products which could contribute to conservation environment.


Micro mobility modes offer large degree of flexibility of driving on roads, footpaths or dedicated tracks built along with the road network in a city. The road network in the developed nations constitutes of a planned layout with dedicated cycle tracks (that can be used for similar types of vehicles) and footpaths. However, the usage of various modes on different locations is subject to the design and application of each mode. Commercial micro mobility market majorly utilizes road network as it accounts for faster moving vehicles such as motorcycles, mopeds, e-bikes, e-mopeds, and micro electric cars, among others.


Due to certain advancements in technology, the overall cost of the micro-mobility modes such as e-scooters, e-bikes, bicycles, and e-mopeds dropped drastically during the past five-year period between 2013-2018. The option of end-to-end connectivity via these low-cost modes is a lucrative option for the service provider as well as the consumer. These factors reduce the initial cost of investment for the company and enable them to offer a low-cost travel mode in the form of micro-mobility to the end-users. The mobility ecosystem has witnessed the proliferation of electric vehicles and personal portable devices extensively in shared mobility services.


Read Report Overview: https://bisresearch.com/industry-report/micro-mobility-market.html

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