Micromobility Market Will Touch $10,351 million by 2030

The micro-mobility industry is expected to rise in the coming years. Generation Z and millennials, including advancements in connectivity, GPS tracking, battery cost reduction, mobile payments, and life improvement, including rising penetration of smartphones lead to a shift in the transportation landscape.

Micro mobility has lured a strong customer base, offering a true potential solution for urban transportation.

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Dynamics of Micromobility

The increasing investments by investors in the development of the micro-mobility solution is a major trend in the industry. The potential industry players and various start-up companies are getting massive investments from investors.

The lower commuting cost relevant to micromobility-sharing services, in comparison to other transportation modes, is a major industry driver.

In addition, micromobility services serve as an economical business option for service providers, resulting in their rising popularity.

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Presently, the bike-sharing landscape is experiencing the expansion of the dockless sharing concept, more specifically for electric bikes. The rising usage of micromobility services, more specifically for bikes makes the economic and convenient short-range commute.

Furthermore, new players are entering the industry with bike-sharing schemes. The key players in the industry, are Didi Chuxing, Lyft, and Uber are partnering with potential bike-sharing companies and participating in acquisitions to provide integrated services to users.

In addition, the region is witnessing continuous adoption of micro-mobility solutions, including scooter sharing, and bike sharing, which makes it the most lucrative region in the world.
Moreover, APAC based bike sharing industry dominates the micro mobility industry. It is ascribed to the presence of large bike-sharing companies, such as Mobike, Hello-Bike, and ofo.

The cost of bike sharing is quite lesser compared to other micromobility services; thus, it benefits the bike-sharing industry.

The major players operating in the industry are; Citi Bike, HOPR, Nextbike, Mobike, and Donkey Republic.

Therefore, the convenient and low-cost short-commute facilitated by the micromobility services leads to their wide adoption across the world.

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