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Micromobility Market to Cross $10,351 Million Revenue by 2030, Says P&S Intelligence
Moreover, the surging penetration of service providers, growing costs of vehicle ownership, and increasing demand for emission-free vehicles propel industry growth.
The bike sharing category held the largest industry share, of 68.4%, in 2021, and it is projected to retain its position in the coming years. It is due to the rising popularity of the service in the APAC region, as it is cost-effective and environment-friendly.
Furthermore, the rising penetration of industry players and the increasing number of collaborations among shared mobility service providers propel the industry.
APAC is projected to experience the fastest growth and lead the bike sharing industry in the near future. One of the major reasons behind this development is the existence of a number of companies in this domain.
Kick scooter sharing has become a success story for covering short distances, generally less than 5 km. In addition, most firms allow users to leave or park their vehicles wherever they want, which provides ease in first- and last-mile travel.
North America holds a substantial revenue share in the kick scooter sharing industry, and it is projected to retain its position in the near future. It is ascribed to the rising penetration of startup companies and growing investment by various venture capitalists, including large automobile giants.
P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
Prajneesh Kumar
P&S Intelligence
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