Shared Mobility Market Expected to Reach $1,266.80 Billion by 2031

According to a new report published by Allied Market Research, titled, "Shared Mobility Market," The shared mobility market was valued at $435.20 billion in 2021, and is estimated to reach $1,266.80 billion by 2031, growing at a CAGR of 11.5% from 2022 to 2031.

Asia-Pacific is expected to dominate the global shared mobility market in 2021 owing to collaboration of leading service provider companies and adoption of latest technologies. In addition, wireless service providers are working to provide advanced wireless platforms for smart transportation, which is also expected to supplement the growth of the Asia-Pacific shared mobility market.

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 Micro mobility vehicle such as e-bikes are gaining traction in the shared mobility industry at the moment. Several companies across the globe are launching e-bikes to offer e-bike sharing service to its customers, which is fueling the segmental growth. For instance, in March 2022, Veo has successfully launched the Class 2 e-bike with throttle-assist, in Birmingham, Ala; Seattle Wash; Santa Monica, Calif; Syracuse, New York; and on the University of Alabama campus. The Class 2 e-bike is named as Cosmo-e and is going to be deployed throughout the U.S. The throttle-assist makes the Cosmo-e the most accessible e-bike on the North American shared mobility market by allowing riders to get where they need to go if they are unable to pedal, need support traveling up the hills or want a boost to get up to speed from an idle position.

The growth of the global shared mobility market is propelling, due to rise in venture capital and strategic investments, government initiatives for smart cities, and increase in inclusion of e-bikes in the sharing fleet. However, low rate of internet penetration in developing regions is the factor hampering the growth of the market. Furthermore, increase in government initiatives for the development of bike sharing infrastructure is the factor expected to offer growth opportunities during the forecast period.

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 KEY FINDINGS OF THE STUDY

By service model, the bike sharing segment is anticipated to exhibit significant growth in the near future.
By vehicle type, the two-wheelers segment is anticipated to exhibit significant growth in the near future.
By vehicle propulsion, the electric and hybrid vehicles segment is anticipated to exhibit significant growth in the near future.
By sales channel, the online segment is anticipated to exhibit significant growth in the near future.
By region, LAMEA is anticipated to register the highest CAGR during the forecast period.

Key players operating in the global shared mobility market include ANI Technologies Pvt. Ltd., Autocrypt Co., Ltd., BlaBlaCar, Blu-Smart Mobility Pvt. Ltd., Bolt Technology OU, Cabify Espana S.L.U., DiDi Global Inc., EasyMile, Free2move, Getaround, Inc., Lyft, Inc., Meru Mobility Tech Pvt. Ltd, Uber Technologies, Inc., Yandex N.V., and Zoomcar India Pvt. Ltd.

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About Allied Market Research

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