Newark, May 01, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global micro mobility market is expected to grow from USD 47.58 billion in 2021 to USD 202.41 billion by 2030, at a CAGR of 17.45% during the forecast period 2022-2030. Asia Pacific emerged as the largest market for the global micro mobility market, with a 41.34% share of the market revenue in 2021. The Asia Pacific region has a comparatively less regulatory framework in comparison to Europe and North America; hence the micro-mobility startups have the advantages of fast implementation across the cities in Asia. But it is also resulting in an oversaturated market with millions of bicycles piling up in the city streets.
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The North American market is also growing swiftly. The US was the first country to observe the dockless electric kick scooters that appeared on city streets. For instance, in September 2017, the Bird dispatched several of its kick scooters in the streets of Santa Monica, California. Despite the related regulatory hurdles, the dockless scooter demand has observed significant growth initially. Many US-based scooter-sharing companies have got unicorn status very fast, as big investors are ready to invest in this space.
Leading companies in the industry include Electricfeel, Floatility GmbH, Beam Mobility Holdings PTE. Ltd, Bird Rides, DOTT, Yulu Bikes Pvt. Ltd, Zagster, Lime, Neuron and VOI among others, are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
Get additional highlights on the growth strategies adopted by vendors and their product offerings: https://www.thebrainyinsights.com/report/micro-mobility-market-12882
Competitive Strategy
To enhance their market position in the global micro mobility market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• For instance, the California-based Bird has achieved unicorn status in less than 9 months after it was founded in September 2017. It made the organization the fastest company in the world to reach a valuation of USD 1 Billion. Just four months later, the valuation of the company became USD 2 Billion. The organization is currently operating in more than 300 cities across North America, Europe, and more.
• Recently VOI raised USD 45 million Series C extension ay a USD 808 million valuations in August 2021. VOI provides its e-scooters in the cities like Sweden, Denmark, Spain, Portugal, Finland, and France. The organization is recently partnered with France-based ridesharing startup BlaBlaCar to give BlaBla Ride scooters in France.
Scope of the Report
| Report Attributes | Details |
| Revenue Forecast by 2030 | 202.41 billion by 2030 |
| CAGR | 17.45% from 2021 to 2030 |
| Vehicle use segment | 40.34% in 2021 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2030 |
| Key Players | Electricfeel, Floatility GmbH, Beam Mobility Holdings PTE. Ltd, Bird Rides, DOTT, Yulu Bikes Pvt. Ltd, Zagster, Lime, Neuron, VOI |
The propulsion type segment is divided into human powered and electrically powered. The electrically powered segment dominated the market, with a market share of around 72.87% in 2021. The vehicle use segment is divided into E-Kick Scooters, Bicycles, SkateBoards, HoverBoard, Low Speed Evs, Segway and Mopeds & Scooters. The bicycles segment dominated the market with a market share of around 40.34% in 2021. The sharing type segment is divided into docked and dock-less. In 2021, the docked segment dominated the market, accounting for around 52.13% of global revenue. The age group segment is divided into 15-34, 35-54 and 55 and above. In 2021, the 15-34 segment dominated the market, accounting for around 65.12% of global revenue. Micro-mobility devices could be privately owned, but these are generally shared-use vehicles that are maintained by the municipal government or private organizations. These devices are attracting the residents of densely populated areas because it is offering quick and convenient transportation to the close by destinations like shops, grocery stores, or entertainment venues. Leading edge technologies like IoT devices are helping organizations implement complex micro-mobility transportation networks. It is making the life of the people better and benefiting the municipality by decreasing congestion and vehicle emissions.
Many experts predict that the micro nobility market will grow further. Most experts project that the micro-mobility market will continue to experience this growth. For these projections, many of the factors are considered, like the residents of the densely populated areas requiring convenient, affordable transportation options. Also, the recovery of global tourism in the post-pandemic world is driving the demand for micro-mobility and economical touring options.
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About the report:
The global micro mobility market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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