Micro-Mobility Market

The micro-mobility market is estimated to grow from USD 3.4 billion in 2022 to USD 6.1 billion by 2027 at a CAGR of 12.5% over the forecast period . The growth of this market is primarily driven by the rapid urbanization, rise in demand for on-demand public transportation, rise in traffic congestion in smart cities, and rise in venture capital and strategic investments.

Micro-mobility services were the most preferred services for the first mile and last mile transportation, as they offered a convenient and cost-effective means of personal mobility with the help of a transportation network system. Another advantage was that they helped to reduce travel costs and eliminated the need for individuals to own a vehicle and reduces the cost of vehicle ownership. One more benefit was the possible reduction of traffic congestion and reduction in CO2 emission. The users had an option to choose from these wide variety of options based on their needs, distance traveled, and personal comfort.

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The demand for micro-mobility is higher in European and American countries as compared to Asian countries due to emission regulations, preference for smart and multi-modal transportation, and other governmental policies. Thus, major micro-mobility service providers, including Lime, Bird Global Inc., and Lyft, are working on various partnerships and collaboration as well as new service launch to cater to the demand from European and American countries.

The micro-mobility market is led by established players such as Lime (US), Lyft, Inc (US), Bird (US), TIER (Germany), and Dott (Netherlands). These companies have adopted strategies such as product launches, expansions, collaborations, partnerships, and mergers & acquisitions to gain traction in the micro-mobility market. For example, Bird Global, Inc. is one of the key players considering its collaborations and partnerships. In March 2022, the company signed a partnership agreement with Lisbon’s public bike service, Gira. The partnership focuses on providing e-bikes through Bird app and reduce reliance on carbon-emitting vehicle usage in the capital city.

Bird Global, Inc. was established in 2017 and is headquartered in Miami, Florida, US. The company is engaged in the development, manufacture, and distribution of a diverse range of electric vehicles. The company operates through two business segments, namely, sharing and product sales. It offers micro-mobility services under the sharing segment. The company invested USD 31 million in R&D activities in 2021, which accounted for 15.3% of the company’s total revenue. It offers shared micro-mobility vehicles such as e-bike and electric scooters to riders across the globe. Its sales its products through online and offline via retailers and distribution partners. The company operates in more than 400 cities of North America, Europe, Middle East & Africa, and other. Lime/Uber, and Lyft are some of the competitors of the company in micro-mobility market.

Lyft was founded in 2012 and is headquartered in San Francisco, California, US. Lyft provides on-demand ridesharing services. Lyft, Inc. engages in the provision and management of online social rideshare community platform. It provides access to a network of shared bikes and scooters for shorter rides and first mile and last-mile legs of multimodal trips, information about nearby public transit routes, and Lyft Rentals to offer riders a view of transportation options when planning any trip. Lyft is one of the fastest growing rideshare companies in the US and is available in more than 200 cities in the US. In addition, Lyft has a wide presence in Asian countries such as Indonesia, Singapore, Philippines, Malaysia, Thailand, and Vietnam. It focuses on colleges, universities, and corporate communities.

TIER was founded in 2018 and is headquartered in Berlin, Germany. The company works on urban transportation by offering easy, accessible and affordable mobility services. The company has more than 30 MaaS (Mobility as a Service) integrators such as Jelbi, FREE NOW, SIXT, and Whim mobile applications. The company has more than 50 partnerships with public transport providers in Europe. BVG, MVG, Austrian Railway (ÖBB), Swiss National Railway Company (SBB), Ruter, DSW21 are some of the public transport providers in Europe. The company focuses on expanding its business in North America, Europe, and Middle East, besides the core market in Europe. The company’s R&D activities are focused on the development and renewal of e-scooters and e-bike, investments in battery architecture for electric moped and bike, and expenses for the digitalization of micro mobility services. The company offers mobility services in Austria, Belgium, Croatia, Denmark, Finland, France, Germany, Hungary, Ireland, Israel, Italy, Netherlands, Norway, Poland, Qatar, Saudi Arabia, Slovakia, Spain, Sweden, Switzerland, UAE, and the UK.

Related Reports:

Micro-Mobility Market by Type (Bicycle, E-bike, E-kick Scooter), Propulsion (Pedal Assist & Electric), Ownership (B2B, B2C), Sharing (Docked, Dock-less), Data (Navigation, Payment), Travel Range, Speed and Region - Global Forecast to 2027

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