According to Bis Research the size of Micro Mobility Market is $2,551.0 Million in 2019 and will reach at $3,544.2 Million till 2025 with a CAGR of 17.03% during the period of 2020 to 2025.
Technological innovations in the transportation industry encompass a comprehensive range of mobility methods delivering a broad range of products to the industry. Today's consumer is well-connected and well-informed, leading the major operating players to research, develop, and technologically evolve continuously to safeguard their position in the ecosystem. Transportation system regulations are primarily designed around demographic needs based on government policy frameworks. Some of the essential criteria taken into consideration while creating a policy regulation for a specific region are socio-economic conditions, commuter lifestyle, degree of technology acceptance, demographic terms, infrastructure availability, and global economic conditions.
Micro mobility is the concept of utilizing various modes of portable transportation to travel short distances. These modes of transportation include bikes, scooters, bicycles, and autonomous shuttles, among others. Micro mobility can also be utilized commercially by companies as a mode of delivering goods and on-demand services to its customers. The vehicles used in the micro mobility modes of transportation are fuel-efficient and eco-friendly, as most of the vehicles are either electric motor-driven or peddle-driven. In cities, adapting micro mobility can help to subside the increasing urbanization and congestion, as micro mobility services provide an ease of access to public transportation and hence reduce the volume of vehicles on the roads. Micro mobility transportation also provides a cost-effective and accessible mode of transit to its users. As the micro mobility industry is consistently growing, many countries are promoting the use of micro mobility startups in their cities by providing specific areas for micro mobility trials, building infrastructure, and helping to coordinate with the micro mobility companies to form regulations.
The electric-powered micro mobility is one of the options that has witnessed exponential growth in terms of regional expansion and even in commuter’s acceptance. The cost advantage and high acceptance of commuters have directed the attention of MaaS giants such as Uber Technologies, Lyft Inc., and ANI Technologies (Ola) to develop products for the micro mobility ecosystem.
Based on the region, the global micro mobility has been segmented into Asia-Pacific & Japan, Europe, the U.K., China, North America, and Rest-of-the-World. Each region is segmented into countries. Data for each of these regions and countries is provided by product type and application.
Competitive Landscape and Key Player of the Micro Mobility Market:
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.
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Key Questions Answered by 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 on 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 2019-2025?
What is the estimated market value by region during the period 2019-2025?
About BIS Research:
BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
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