Private car ownership has been the most common and preferred way of moving people from point A to point B. But, over the past few years with the rise of Mobility-as-a-service, even car companies want to be a complete Mobility service provider in order to keep pace with changing consumer behavior.
It first started with Ride hailing taxis in US in 2009, moved on to the bike sharing boom in 2016 in China and then scooter sharing boom in 2018 in US, which took everyone by surprise.
We started tracking the micro mobility market in Q1-2018 and in July 2018 when we first launched our Bike and scooter sharing startups report, $5.7 Billion was already invested in 25 startups by 150+ investors. A year later, the figure stood at $6.8 Billion and by March 2020 it went upto $7.7 Billion, refer to the info-graphic at the bottom of page
If ride hailing taxis are meant to fill the gap/white space between car ownership and public transport. Micro mobility can fill a lot of white space between public transport, short haul trips and the most important – Ride hailing taxis.
The micromobility market is in a very nascent phase at the moment and its evolution or growth will be subject to regulatory clearance, consumer adoption and additional funding from investors. E-scooters are already facing the brunt of regulators, read our e-scooter sharing market report to know more about E-scooter sharing. Bike sharing was also thought of as the next big thing in 2017 and even in early 2018, when Ofo and Mobike got funding to the tunes of Billion dollars but now Ofo is mulling for bankruptcy and Mobike is facing uncertain future. Read our Bike sharing report to know more
In US and Europe where E-bikes and E-scooters are getting increasingly popular, India is witnessing dramatic rise of conventional gasoline powered dockless scooters.
Therefore, one has to read the market needs and growth signs very minutely before making any claim about micro mobility market future growth.
MARKET SIZE AND FORECAST
This is the biggest question in every industry stakeholder and observer`s mind. How big is the micro mobility market right now and how much bigger it can get in coming years?
Some market reports claim that the annual micro mobility market size could be worth a few hundred Billion dollars in US and Europe each by 2030.We believe that`s completely inaccurate.
A simple reason behind our belief is that the annual passenger car market in US and Europe are worth ~$550 and ~$370 Billion respectively where ~17 Million and ~15 Million passenger cars are sold annually. Even if we assume that in the best possible scenario, the user base is 5 times that of a car buyer as it’s a shared solution, the average revenue per rider per annum will not exceed $500. The total annual revenue will not exceed $50 Billion in respective markets and that is the best possible scenario we are talking about.
To accurately forecast the global micro mobility market, we have analyzed the most popular micro-mobility solutions globally and developed a scenario-based forecast till 2025.
POSSIBILITY OF A SUBSCRIPTION BASED BUSINESS MODEL
The subscription based business model makes use of higher scale and less than 25% average utlization. A very common example is that of annual gym membership, where only 1 in five members turn up on a regular basis.
A reasonably priced subscription plan and an expensive short term plan can result in lower customer acquisition cost and higher loyalty but it can also push short term customers away.
Uber is already planning to offer a $25/month subscription service in US, which will include free deliveries on Uber Eats, free rides on Uber Jump and discounted rides on Uber and it remains to be seen if other micromobility operators will go after this model.
The competitive landscape in the global micro mobility market is extremely regionalized. There is no clear winner so far but players with bigger scale like Lime have an edge over their peers.
The average age of companies(startups) is less than 3 years. In 2019 alone these companies raised $1.2 Billion in funding and 99% of that was raised by scooter sharing startups.
FUNDING RAISED SO FAR
More than 30 bike and scooter sharing startups have cumulatively raised ~$7.7 Billion between 2016 and Feb 2020. Bike sharing startups raised ~$5 Billion whereas the remaining $2.7 Billion has been raised by various scooter sharing startups between 2018-Feb 2020.
THIS REPORT WILL ANSWER THE FOLLOWING QUESTIONS
- How should the car manufacturers look at this market and how it will impact them?
- Which country/region has the biggest growth opportunity? US, Europe, China, ASEAN or India?
- How much supplemental volumes can electric scooter, bikes, gasoline scooter manufacturers can expect per annum and how should the component suppliers prepare themselves for this?
- The opportunity for compact traction motor, wheel, wiring harness and brake manufacturers
- Monthly active user base and average revenue per ride in top 10 countries
- How does the micro mobility users profile vary from US/Europe to Asia?
- The legislative road blocks and how the micromobility operators plan to overcome them
- Opportunity for software/technology/GPS providers
- Investment opportunity for car rental/ taxi operator companies to offer a holistic mobility solution
- Market share of micro mobility operators in different regions
|4||Global Bike sharing fleet size, by country, by operator,2019-2025||16-20|
|5||Global E-Bike sharing fleet size, by country, by operator,2019-2025||21-25|
|6||Global Gasoline scooter sharing fleet size, by country, by operator,2019-2025||26-27|
|7||Global Electric kick scooter fleet size, by country, by operator,2019-2025||28-31|
|8||Different transportation needs of consumers by geography||32-33|
|9||Consumer profile by region||34-35|
|10||Role of electric vehicles in global micro-mobility market growth||36-37|
|11||Legislative roadblocks in major countries||38-39|
|12||Integration of micro-mobility in on-demand taxi and public transportation||40-41|
|13||About technological challenges and software infrastructure||42|
|14||Monthly active users, by region||43|
|15||Market Size, Dynamics and Forecast, by Scooter type||44-51|
|16||Market Size, Dynamics and Forecast, by Geography||52-70|
|17||Market Size, Dynamics and Forecast, by Trip type||71-79|
|18||Market Size, Dynamics and Forecast, by Sharing type||80-89|
|20||Funding and investor details||93-95|
|21||Market share of major vendors in US ,Europe and Asia||96-97|
|23||Unmet needs and Market Opportunity for suppliers||111-112|