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Japan Micromobility Market Set to Hit $11,663 Million Revenue by 2030, says P&S Intelligence
The Japanese micromobility market, based on vehicle type, was led by the e-bikes category in the past. These are some of the cleanest and cost-efficient modes of transport, and they are also widely popular among the youth.
In the coming years, the larger share within the model segment of the Japanese micromobility market will be held by the first- and last-mile bifurcation. To travel between the home or office to mass transit hubs, such as bus stops and metro stations, people either walk or take their personal vehicles. Some even avail of conventional shared mobility, such as carsharing and ride hailing, which is costly for such short distances. Thus, the rising need for a cheap means of transport for the first and last miles is propelling the demand for micromobility.
The dockless bifurcation is predicted to witness the faster growth in the Japanese micromobility market in the years to come, under segmentation by sharing system. Customers prefer these systems as the latter do not require the two-wheeler to be picked up and dropped off at a particular point. Similarly, market players save money as they are not required to set up dedicated docking stations.
The key drivers for the Japanese market:
Key companies in the Japanese micromobility market are Mobby ride Co. Ltd., Open Street Inc., EXx Co. Ltd., Docomo Bike Share Co. Ltd., Hasegawa Kogyo Co. Ltd., Meituan Bike (Mobike), Luup Co. Ltd., Kwang Yang Motor Co. Ltd., Ningbo MYWAY Intelligent Technology Co. Ltd., and Segway Inc.
Across the globe, the micromobility market is currently registering the highest growth in the Asia-Pacific (APAC) region. In this region, China is witnessing the highest demand for bike sharing services.
Globally, the Asia-Pacific region dominated the micromobility telematics market in 2020. This was attributed to the huge investments received by various regional micromobility telematics firms and the emergence of several technology start-ups in the region.
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Prajneesh Kumar
P&S Intelligence
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