Travel Cost Savings to Drive Global Micromobility Market

Micro-mobility market

As estimated by Inkwood Research, the global micromobility market is expected to grow at a CAGR of 12.09% in terms of revenue over the forecast years 2021-2026.

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Micromobility involves a range of light and small vehicles that are typically driven by users. These include electric scooters, shared bikes, electric pedal assist, electric skateboards, e-scooters, and more.

Savings on travel costs are an important growth driver
The most lucrative criterion in selecting a service for any consumer is its cost. In these terms, micromobility offers low-cost travel, as well as ease of operation and high availability. The prospect of rapid return on investment and low operational costs has also led several startups and mobility services to explore business opportunities. Developed countries are fond of e-bikes and bicycles due to their health and environmental benefits. The low cost ride encourages a consumer to replace their walking phase with a convenient mode for first or last mile connectivity.

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Commercial is the dominant application
The commercial market includes delivery services. These include items booked online via a smartphone with additional handling or delivery charges. These services must be compact and fast to support the huge network of delivery points and resources. There has been a significant shift towards electric modes of mobility such as e-bikes, e-mopeds and e-scooters from conventional two-wheelers.

As micromobility is a new emerging concept, the market remains untapped. Competitive rivalry is thus assessed as low since manufacturers focus on the profitability of the service/product for buyers. Some of the major market players include Bird Rides Inc, Micro Mobility Systems AG, Segway, Limebike, Spin Scooters, Swiftmile, etc.

Related reports:
GLOBAL E-BIKE MARKET – https://inkwoodresearch.com/reports/e-bike-market/

GLOBAL LAST MILE AUTONOMOUS DELIVERY MARKET – https://inkwoodresearch.com/reports/autonomous-last-mile-delivery-market/

GLOBAL ELECTRIC VEHICLE MARKET – https://inkwoodresearch.com/reports/electric-vehicle-market/

Inkwood Research
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Inkwood Research specializes in syndicated and custom research reports and consulting services. Market intelligence studies with relevant factual research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective understanding that recognizes commercial environments. Our geographic analysis includes North and South America, EEC, CIS, Middle East, Europe, Asia and Africa.

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