According to FMI’s new report, the global micromobility platform market is set to grow at a noteworthy CAGR of around 13.4% from 2022-2032. The market is expected to reach a valuation of ~US$ 5,647.9 Mn by the end of 2022.
Rising oil & gas prices, increasing road congestion, saturation in the automotive sector, and inconvenience of parking are expected to fuel market expansion. In addition, rising demand for e-bikes and e-kick scooter sharing and rental services is estimated to open up new growth avenues for micromobility platforms over the coming decade.
Over the past few years, for urban populations in Asia, North America, and Europe, the use of shared electric bikes, scooters, and motorbikes has considerably expanded. As micromobility is simple to operate and offers a practical mix of electric traction and dockless operation, customers appreciate it. Since it is very simple to utilize a two-wheeled vehicle via a smartphone app, consumers are increasingly choosing micromobility over more conventional transportation options like a car, bus, or train that depend on traffic.
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Key Takeaways: Micromobility Platform Market
· By vehicle type, the scooters and e-scooters segment is estimated to grow at a robust CAGR of 16.1% through 2032.
· By platform type, the mobile segment is estimated to grow at a CAGR of 14.6% during the forecast period.
· By end user, the commercial segment is anticipated to increase at a CAGR of 18.6% between 2022 and 2032.
· The market in Germany is expected to progress at a CAGR of around 14.0% through 2032.
· In Japan, the micromobility platform market is anticipated to grow at a CAGR of 19.6% during the evaluation period.
“Development of smart cities and automotive infrastructure has provided numerous growth opportunities to micromobility platform providers worldwide. Various small vehicle fleet owners have also joined forces to support the use of micromobility platforms owing to the presence of multiple software/service providers, as well as their high investments and development goals,” says a Future Market Insights analyst.
Increasing Government Initiatives to Develop Smart Cities Will Accelerate Growth
Expansion of the global market is mainly being fueled by increasing government initiatives and support for the construction of smart cities with a requisite cycling infrastructure. The micromobility market is expanding as a result of numerous initiatives, including the construction of temporary bike lanes, expansion of public areas, and prohibition of motorized vehicles on a few streets.
Major government agencies across the world are radically altering their cities’ transportation infrastructure to make room for bicyclists and pedestrians, which is helping the micromobility sector develop even more. For the implementation of micromobility, governments are establishing new rules, goals, and policies. They are enticing OEMs and other industry players to actively participate in development programs. They are also fostering confidence by enacting investments and policy frameworks.
For instance, Canada has legalized the use of electric kick scooters. Riders would not require a license, insurance, or number plates to drive in Canada. Similar to this, electric kick scooters are legal on American roadways despite the absence of bicycle lanes as long as they don’t go above the speed limit of 25 mph.
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Micromobility Platform Market Outlook by Category
By Vehicle Type:
- Scooters & E-scooters
- Skateboards & E-skateboards
- Bicycles & E-bikes
- Others
By Platform Type:
- Desktop/ Web
- Mobile
By End User:
- Individuals
- Commercial
- Food & Beverages
- Logistics
- E-commerce
- Pharmaceuticals
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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