Global Micro-Mobility Market – Analysis and Forecast (2021-2027)

1. Global Micro-Mobility Market

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3. Global Micro-Mobility Market The global micro-mobility market was valued at USD 4.1 billion in 2020, growing at a CAGR of 18.0% during the forecast period. The global micro-mobility market is an emerging mode of transport for making short distance trips and has drastically grown in cities in last few years. These days, electric scooters, shared bikes, and other vehicle types are frequently use to travel over comparatively short distances. Growing urbanization and traffic has compelled people across the globe to take short trips through the micro-mobility mode of transport and therefore, there has been noteworthy rise in electric bike and scooter usage. In US, around 60% of all the trips taken on regular basis are for 5 miles or less. All these factors will impact the micro-mobility market progression in the market in years to come.

4. Global Micro-Mobility Market Safety and security concerns and lack of strong policy framework is retraining the growth of micro-mobility in several regions. Further, required infrastructure development for smooth operation within a region is another major challenge to the industry. Further, APAC will be the fastest growing regions for the micro-mobility market in near future. China municipality has launched the docked bike-sharing model in major cities back in 2008 to ease mobility issues. Furthermore, the most successful public micro-mobility program in China was launched by the Hangzhou Public Transport Corporation in mid-2008 called Hangzhou Public Bicycle.

5. Global Micro-Mobility Market During the last few years, there has been sweeping rise in the number of micro-mobility service providers across the globe., some of the prominent name in the list are Ofo and Mobike in China and Citi Bike and Jump Bikes in the US. All these companies are offering customers with appropriate choices for first and last-mile transportation. Key strategy adopted by these players to grow and expand their presence in the market is raise venture capital or get acquired by established market players. Some of the key players operating in the micro-mobility market are Beijing Mobike Technology Co. Ltd., Bird Rides Inc., Easymile SAS, Floatility GmbH, LimeBike, Scoot Network, Skip Transportation, Spin Scooters, Sway Mobility, and Zagster.

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