Overview of Micro-Mobility Market Size & Future Outlook
According to the latest report by MarkNtel Advisors, the Global Micro-Mobility Market size is estimated to grow at a CAGR of around 22% from 2023-2028. This report is designed to enhance user understanding and support informed decision-making by thoroughly analyzing key market shifts, identifying gaps, exploring emerging opportunities, and assessing industry trends and competitive challenges. By combining both qualitative and quantitative data, it offers a comprehensive overview, highlighting growth prospects and providing valuable insights into competitors, helping both established companies and new entrants navigate the current market landscape.
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What are the key drivers influencing the growth of the Micro-Mobility market?
This section provides a detailed analysis of the market drivers and factors is explored thoroughly below.
Mounting Demand for On-demand Transportation Services
The rapidly increasing urban population and rising establishment of smart cities worldwide are leading to the ever-growing demand for on-demand public transportation and, in turn, Micro-Mobility services. Governments of different countries are making significant transformative changes to improve the life quality of people by making massive investments in implementing Micro-Mobility solutions, such as bicycles, e-bikes, e-kick scooters, & e-mopeds, which offer benefits like fare comparison, flexibility, wide availability of vehicles, subscription-based services, real-time feedback, online payments, mobile apps, & GPS navigation. These vehicles are usually parked outside the streets or campuses, which allows users to pick up & ride as & when required without any wait. Hence, the increasing number of smart cities, coupled with various government initiatives toward implementing on-demand public transport, are projected to drive the global Micro-Mobility market during 2023-28.
How is the Micro-Mobility market segmented and what are the key factors within each segment?
The Micro-Mobility market has been further segmented into distinct categories. Analyzing growth within these segments allows you to identify niche opportunities, develop targeted strategies, and understand the variations in your core application areas and target markets.
By Application
- Commercial (Available on Rent)
- Private
By Autonomy Level
- Manual
- Semi-Autonomous
- Autonomous (Self Driving)
By Power Source
- Man-powered
- Fuel-powered
- Hybrid Electric Vehicles (HEV)
- Plug in Hybrid Electric Vehicles (PHEV)
- Battery Electric Vehicles (BEV)
By Sharing Service Model
- Station based
- Dockless (do not require a parking station)
- Hybrid (Station based + Dockless)
By Vehicle Type
- Electric Scooters
- Electric Skateboards
- Electric Bicycles (also known as Bike)
- Pedal Bicycles
- Others (Electric Unicycle, Golf Carts, etc.)
By Region
- North America
- South America
- Asia-Pacific
- Middle East & Africa
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Who are the Key Market Players in the Micro-Mobility industry?
The competitive landscape of the Micro-Mobility market provides a detailed look at the key players in the industry. This includes an overview of each company, their financial performance, revenue generation, and market potential. It also covers their investments in R&D, new market initiatives, production facilities, and strengths and weaknesses. Additionally, the analysis looks at recent product launches, approvals, the range of products offered, their dominance in different applications, and the product life cycle. All of this information is specifically focused on how each company is positioning itself within the market.
Several key players are actively operating in the market, including
- Ofo
- Mobike
- Hello Bike
- Scoot
- Skip Transportation
- Spin
- Bird
- Lime
- Rydies
- Segway Inc.
- Dynamic Bicycles
- Uber
- Micro Mobility Systems
- Others.
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