Global Micro-Mobility Device Testing and Certification Services Market is projected to reach the value of USD 1,218.93 Million by 2030

According to the report published by Virtue Market Research in Global Micro-Mobility Device Testing and Certification Services Market is estimated to be worth USD 490.13 Million in 2023 and is projected to reach a value of USD 1,218.93 Million by 2030, growing at a CAGR of 13.9% during the forecast period 2024-2030.

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The Global Micro-Mobility Device Testing and Certification Services Market has witnessed significant growth over the past few years, and experts believe this trend is set to continue in the long term. One of the key long-term market drivers is the increasing emphasis on safety standards and regulations in the micro-mobility sector. As more cities embrace the concept of micro-mobility, there is a growing need for robust testing and certification services to ensure the safety and reliability of micro-mobility devices.

The COVID-19 pandemic has also left its mark on the micro-mobility market. While the initial phases of the pandemic posed challenges with disruptions in the supply chain and reduced consumer spending, the latter stages saw a resurgence in interest in micro-mobility solutions. As people sought alternative modes of transportation to avoid crowded spaces, the demand for micro-mobility devices surged. This shift in consumer behavior has reinforced the importance of testing and certification services to guarantee the safety of these devices amid evolving circumstances.

In the short term, the market is being driven by the increasing adoption of electric micro-mobility devices. The focus on sustainable transportation solutions has led to a surge in the demand for electric scooters, bikes, and other micro-mobility devices. This short-term driver is expected to have a positive impact on the testing and certification services market, as manufacturers strive to comply with environmental standards and regulations.

An exciting opportunity in the industry lies in the integration of advanced technologies into micro-mobility devices. The rise of IoT (Internet of Things) and smart technologies has opened doors for innovative features in micro-mobility devices, such as real-time tracking, predictive maintenance, and enhanced safety features. Testing and certification services play a crucial role in ensuring the seamless integration and functioning of these technologies, presenting a lucrative opportunity for service providers.

A notable trend observed in the micro-mobility testing and certification landscape is the increasing focus on interoperability standards. With the proliferation of different types of micro-mobility devices from various manufacturers, there is a growing need for standardized testing procedures that ensure compatibility and interoperability. This trend reflects the industry's maturation as stakeholders recognize the importance of creating a cohesive and interconnected micro-mobility ecosystem.

Market Segmentation:
By Service: Testing, Inspection, Certification
Within the realm of testing and certification services, the largest category is testing services. These services form the backbone of ensuring the safety and reliability of micro-mobility devices, undergoing rigorous assessments to meet regulatory standards. Simultaneously, within this domain, the fastest-growing segment during the forecast period is the certification services category. As the industry witnesses an upsurge in demand for verified and compliant micro-mobility devices, certification services become increasingly pivotal, contributing to the market's rapid growth trajectory.

By Sourcing Type: In-house, Outsourced
Among these categories, the largest segment stands as outsourced services. Many companies opt to delegate their testing and certification needs to specialize third-party entities equipped with expertise and resources, allowing for comprehensive evaluations. In contrast, the fastest-growing segment is the in-house services category. This trend suggests a growing inclination among certain entities to establish their testing and certification capabilities internally, possibly to streamline processes and retain greater control over quality assurance measures.

By Battery-Type: lithium-ion, lead-acid, nickel-metal hydride, other types
Within this segmentation, the largest sector pertains to lithium-ion batteries. These batteries dominate the micro-mobility landscape due to their efficiency, energy density, and widespread adoption across various devices. Concurrently, the fastest-growing sector in this domain is the solid-state battery, categorized under 'other types.' The increasing interest and innovation surrounding solid-state batteries present a promising avenue for the micro-mobility sector, offering potential advantages in safety, energy density, and environmental impact compared to conventional lithium-ion batteries.

By Voltage range: 24V, 36V, 48V, other ranges
Among these ranges, the largest sector comprises the 48V category. This voltage range holds prominence within micro-mobility devices, offering a balance between power and efficiency, catering to diverse transportation needs. Interestingly, the fastest-growing sector during the forecast period belongs to the 'other ranges' category. This classification encompasses a range of voltage specifications beyond the conventional 24V, 36V, or 48V, indicating an evolving landscape with innovations and experimentation in varied voltage capacities.

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Regional Analysis:
Within this segmentation, North America emerges as the largest region. The prevalence of technological advancements, coupled with a proactive approach towards embracing micro-mobility solutions, solidifies North America's position in this market. In contrast, the fastest-growing region during the forecast period is the Asia-Pacific. This region witnesses a surge in the demand for micro-mobility devices, driven by factors such as rapid urbanization, increasing population densities, and a burgeoning emphasis on sustainable transportation solutions. Asia-Pacific's projected growth signifies a burgeoning market for testing and certification services in the micro-mobility sector within this region.

Latest Industry Developments:
• Diversification of Service Offerings: Companies in the Global Micro-Mobility Device Testing and Certification Services Market are increasingly adopting a trend of diversifying their service portfolios. Recognizing the evolving needs of the micro-mobility sector, testing and certification service providers are expanding their offerings to encompass a broader range of devices and technologies. This strategic move allows companies to cater to the growing demand for comprehensive testing solutions, ensuring the safety and compliance of an expanding array of micro-mobility devices, including electric scooters, bikes, and emerging innovations.

• Investment in Advanced Technologies: A notable trend in the market involves companies strategically investing in advanced technologies to enhance their testing and certification capabilities. With the rise of IoT (Internet of Things) and smart technologies in micro-mobility devices, companies are leveraging these innovations to strengthen their testing procedures. Integration of real-time tracking, predictive maintenance, and data analytics contributes to more robust and efficient testing services. This strategic adoption of advanced technologies not only improves the accuracy and reliability of testing but also positions companies as leaders in providing cutting-edge solutions in a rapidly evolving market.

• Global Expansion and Collaboration Initiatives: Companies are actively pursuing global expansion and collaboration initiatives to strengthen their market presence. Recognizing the international scope of the micro-mobility market, many testing and certification service providers are establishing partnerships and collaborations with key stakeholders, including manufacturers, regulatory bodies, and industry associations. This trend facilitates a more comprehensive and standardized approach to testing and certification services on a global scale. Moreover, companies are strategically expanding their geographical footprint to tap into emerging markets, capitalizing on the increasing adoption of micro-mobility solutions in regions with high growth potential.

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