Market Definition:
The Micro-mobility market size was over USD 40.5 billion in 2022 and is anticipated to grow at a rate of over 15.0% from 2023 to 2032.
Micro-mobility is a term used to describe small, personal vehicles that are used for short trips. This can include bikes, scooters, and skateboards. Micro-mobility is a growing trend in cities as a way to reduce traffic and pollution.
There are many benefits to micro-mobility. For one, it is a more efficient way to get around. Bikes and scooters can navigate through traffic much easier than cars. They are also more environmentally friendly, as they produce zero emissions.
Micro-mobility is not without its challenges, however. One of the biggest is safety. Bikes and scooters can be tricky to navigate, and accidents are not uncommon. There is also the issue of storage. Bikes and scooters need to be stored somewhere when they are not in use, which can be difficult in densely populated areas.
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Market Outlook:
There are a few key trends in micro-mobility technology that are worth mentioning. Firstly, there is a trend towards more compact and lightweight vehicles. This is partly due to the fact that people are increasingly using micro-mobility vehicles for commuting and other short journeys, and so they need something that is easy to carry and store.
Secondly, there is a trend towards electric-powered vehicles. This is because electric vehicles are more efficient and have lower running costs than petrol or diesel vehicles. Finally, there is a trend towards connected and autonomous vehicles. This means that vehicles are able to communicate with each other and with infrastructure and that they can be operated without a human driver.
Key Drivers
There are several key drivers of the micro-mobility market. One is the increasing cost of car ownership and operation. This is especially true in urban areas, where the cost of parking, insurance, and fuel can be quite high. Another driver is the increasing congestion on roads and highways. This has led to a search for alternatives to the traditional car commute.
Micro-mobility options, such as electric scooters, offer a more affordable and convenient way to get around. They are also much less likely to contribute to traffic congestion. In addition, many people find micro-mobility options to be more fun and exciting than traditional methods of transportation.
Restraints & Challenges
Micro-mobility is a term used for a variety of small, lightweight vehicles that can be used for short trips. These include electric bicycles, electric scooters, and other small electric vehicles. Micro-mobility is seen as a way to reduce traffic congestion and pollution, and to improve urban mobility.
However, there are a number of key restraints and challenges associated with micro-mobility.
Firstly, micro-mobility vehicles are often not allowed on sidewalks or in bike lanes, which limits their usefulness in urban areas. Secondly, they can be difficult to store and charge, and are often stolen or vandalized. Finally, they can be dangerous to both riders and pedestrians, and there have been a number of accidents involving micro-mobility vehicles.
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Research Objectives:
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segments
The micro-mobility market report is bifurcated on the basis of Speed, Sharing Type, Propulsion, Age Group, Type, Ownership, and Region. By Type, the market is segmented into Bicycles, E-kick Scooters, Low-speed EVs, Skateboards, and Others. Based on Sharing Type, it is bifurcated into Docked and Dockless. On the basis of Propulsion, the market is classified into Human Powered and Electrically Powered. By Speed, it is segregated into Up to 25 kmph and 25 to 45 kmph. On the basis of Ownership, the market is segmented into Business-to-Business and Business-to-Consumer. Age Group divides the market into below 30, 30 to 50, and Above 50. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and Rest of the World.
Key Players
The Micro-mobility market report includes players such as Lyft Inc., TIER, Bird Global Inc., AGC Inc., DOTT, Beam Mobility Holdings, Yulu Bikes Pvt. Ltd., Zagster, Derby Cycle, and Lime, among others. These players adopted product approval, acquisition, product launch, partnership, and expansion to increase market share.
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Research Scope:
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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