Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Micro-Mobility Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The globally expanding micro-mobility market is projected to witness a substantial leap from a market value of $52.03 billion in 2023 to an estimated $62.05 billion in 2024, demonstrating an impressive compound annual growth rate (CAGR) of 19.3%. This robust growth trajectory is anticipated to sustain, reaching a significant $121.64 billion by 2028 at a CAGR of 18.3%. This comprehensive market report, offering a panoramic view of industry trends, growth drivers, and regional market insights, is now available.
Key Market Drivers and Future Trends
The upswing in urbanization, along with parallel shifts in consumer behavior towards more sustainable and efficient travel options, primarily drives this market expansion. Pivotal developments in infrastructure and profound changes brought on by the COVID-19 pandemic have also been substantial contributors.
Product Innovation and Emerging Technologies
Keeping pace with the digital era, the market is evolving with key industry players pushing the boundaries with innovations. Noteworthy advancements include the integration of cognitive intelligence (CI) for enhanced user experience and environmentally friendly transport solutions.
Acquisitions and Expansions
Strategic acquisitions, such as that of Wheels Labs Inc. by Helbiz Inc., are set to enhance operational capacities, with an eye on global market coverage and an improved financial standing. These maneuvers are expected to foster a competitive and diversified micro-mobility landscape.
Geographical Insights: Asia-Pacific Leads; North America Accelerates
The micro-mobility market has identified Asia-Pacific as its largest region in 2023, with North America predicted to be the fastest-growing region in the forecast period. These regions exemplify the burgeoning consumer demand for efficient micro-mobility solutions.
- Asia-Pacific epitomizes the prolific market uptake.
- North America exhibits remarkable growth potential.
Transportation Modes and Ownership Models at a Glance
The market encompasses a variety of transportation options such as bicycles, e-bikes, and e-kick scooters. They cater to the need for speed with variations ranging up to 45 kmph, available in both human-powered and electrically powered formats. The report also highlights different shared ownership models, from docked to dockless, expanding the accessibility and convenience of micro-mobility.
A selection of companies mentioned in this report includes:
- Yadea Technology Group Co. Ltd.
- Jiangsu Xinri E-Vehicle Co. Ltd.
- Xiaomi Corp.
- Segway Inc.
- Swagtron
- Boosted USA
- Airwheel Holding Limited
- Yamaha Motor Co. Ltd.
- Accell Group N.V.
- Derby Cycle AG
- Neutron Holdings Inc.
- Bird Rides Inc.
- ElectricFeel AG
- Floatility GmbH
- Beam Mobility Holdings Pte. Ltd.
- Dott B.V.
- Yulu Bikes Pvt. Ltd.
- Voi Technology AB
- Lyft Inc.
- Tier Mobility GmbH
- Beijing Mobike Technology Co. Ltd.
- DoorDash
- Dynamic
- Helbiz Inc.
- Veo Technologies Inc.
- Razor USA LLC
- Ninebot Inc.
- Gogoro Inc.
- GenZe by Mahindra
- Superpedestrian
- VanMoof
- Cowboy
- Jump Bikes
- Spin
- Wheels Labs
For more information about this report visit https://www.researchandmarkets.com/r/fgjjtg
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