MICROMOBILITY MARKET

KEY FINDINGS

• The global micromobility market was valued at $ 2,921.4 million in 2023 and is expected to reach $ 4,574.9 million by the end of 2030, growing at a CAGR of 6.6% during 2024-2030. 
• The global micromobility market from 2024 to 2030 is set to witness noteworthy growth projections with an increased push towards environmentally sustainable alternatives to cars. 
• Technological advancements such as IoT and AI are fuelling the demand for faster and more reliable micromobility for smoother and more effective operation, thereby boosting the market for micromobility. 
• The market is witnessing manufacturers making notable investments for fleet increment, and better networks in prominent cities to enhance presence across diverse geographies. 
• Rising investments in research and development activities aimed at enhancing the quality and performance of micromobility are further propelling market growth. 
• Europe is expected to dominate the market during the forecast period, attributed to the presence of numerous operators in countries like Germany, France, and the UK. 
• The rise in public transportation infrastructure across the globe and the increasing popularity of public transport due to traffic congestion issues led to a healthy increment in the utilization of micromobility solutions. 
• Manufacturers offering modern micromobility solutions to specific cities, and addressing customer requirements gain a competitive edge. The companies are venturing into collaborating with public transport operators allowing customers to differentiate their products in the market. 
• Hotels and tourist destinations offer micro-mobility vehicles as part of their guest services. For example, tourists can rent e-scooters or bikes to explore cities in a more environmentally friendly and flexible manner.  
• Companies are focused on differentiating their offerings by providing superior user experiences, expanding their service networks, and investing in cutting-edge technology to stay competitive. Building brand loyalty and strategic partnerships with cities can also provide a competitive edge. 
• Companies are engaging with regulators proactively to ensure they comply with local laws and adapt to regulatory changes swiftly. Furthermore, these operators are trying to invest in safety and data-sharing practices to build trust with municipalities. 
• The Asian region offers  3-4 times less cost per ride compared to other regions, due to the local manufacturing of the vehicles and less operational and maintenance cost for the firms. 
• The market is based mainly out of the USA and Europe right now but there is an increasing presence in cities in other regions of the globe such as Israel, UAE, etc. and the market will soon expand in metropolitan areas globally
• The Leipzig-based Nextbike (Tier) company is the market leader in Germany and Europe. Its services are available in over 300 cities and more than 20 countries on four continents
• About 25-30% of the micro-mobility activity in US is centered in and around California, the reason being high population density, tech-savvy population declining car ownership, and zero emission policies.
• Electric scooters and bikes have gained popularity due to their eco-friendliness and convenience, leading to a surge in the adoption of electric micro mobility vehicles.

MICROMOBILITY MARKET OVERVIEW

The global micro mobility market was valued at $ 2,921.4 million in 2023 and is expected to reach $ 4,574.9 million by the end of 2030, growing at a CAGR of 6.6% during 2024-2030.  The micromobility market is poised for significant growth over the coming years, driven by a combination of urbanization, environmental concerns, and technological advancements. As more people move to cities, the demand for efficient, affordable, and sustainable transportation options increases. Micromobility solutions like e-scooters and e-bikes are seen as ideal for short trips within urban environments.  

The market is witnessing strong development prospects as a result of the establishment of a strong network by prominent micromobility operators across major cities, which facilitate easier access to the services. The companies are more specifically targeting the developed region of Europe to expand their operations. 

E-SCOOTER SHARING PROVIDER'S PRESENCE, IN MAJOR CITIES IN EUROPE 

The Europe region is expected to remain a dominant region in the market. Europe is a region consisting primarily of developed cities with an established and decent network of public transport services. There has been a consistent increment and demand for last-mile connectivity solutions for the seamless use of public transport. Furthermore, solutions such as payment integration discounts and lower tariff offerings on specific public transport users might create a separate and dedicated consumer base for different companies  

However, Companies may explore new ownership models, such as fractional ownership or community ownership, to attract different customer segments. The companies will try to venture and test new and innovative models to create a robust and sustainable model of operation which will ensure a reduction in operational cost and create a profit-making business. 

However, the micro-mobility industry is incorporating advanced technology such as GPS tracking, geo-fencing, mobile apps, and real-time data sharing. IoT and AI are being used to improve fleet management, optimize maintenance, and enhance the user experience. 

In the future, the integration of 5G connectivity, AI-powered traffic management systems, and advanced sensors in micro-mobility devices will enable seamless, autonomous operations and improved safety features. AI will also play a role in predicting demand, optimizing routes, and reducing operational costs. 

INTRODUCTION TO MICROMOBILITY MARKET

The micromobility market refers to the industry focused on small, lightweight vehicles designed for short-distance urban transportation, typically under 10 kilometers. These vehicles, often electric, include e-scooters, e-bikes, traditional bicycles, and other emerging personal transport options like hoverboards and skateboards. Electric micro-mobility solutions, such as e-scooters and e-bikes, contribute significantly to reducing urban carbon emissions compared to traditional fossil-fuel-powered transportation. Their use aligns with global sustainability goals and environmental regulations, fostering growth in the market. 

The initial investment for angiography systems is Improving battery performance, longevity, and energy density will be a top priority to increase the range of e-scooters, e-bikes, and other micro-mobility vehicles. Development of longer-lasting, lighter, and faster-charging batteries, with a focus on lithium-ion advancements. Enhanced energy storage capabilities will allow for extended range and reduced charging times, addressing one of the major barriers to widespread adoption and operational efficiency in micro-mobility. 

Seamless integration with public transportation systems will be a significant research area, aimed at creating a unified and efficient urban mobility network. Developing systems that allow micro-mobility vehicles to be easily used in conjunction with public transit, such as through integrated payment systems, real-time route planning, and multimodal transportation apps. Improved integration with public transportation will help micro-mobility companies expand their user base, offering a comprehensive solution to urban transit and reducing traffic congestion. 

MICROMOBILITY MARKET SIZE AND FORECAST

The Global micromobility marketaccounted for $ 2,921.4 million in 2023 and isanticipatedto reach $ 4,574.9 million by 2030, registering a CAGR of6.6% from 2024 to 2030.

TRENDS IN MICROMOBILITY MARKET

Micro-mobility solutions are increasingly integrated with smart traffic management systems that help regulate traffic flow and improve safety. These systems use data from micro-mobility vehicles, public transportation, and connected infrastructure to create more efficient traffic patterns. Integration with smart cities allows for better coordination between micro-mobility vehicles and traditional transport systems, reducing congestion and improving rider safety. This trend also supports the development of dedicated lanes for micro-mobility vehicles. 

Companies are experimenting with self-balancing scooters and autonomous micromobility vehicles that can reposition themselves or return to charging stations automatically. These advancements are still in the early stages but represent the future of micromobility. Remote-controlled or semi-autonomous micromobility vehicles, where operators can move the vehicle to better locations for the next user, are gaining traction. 

Manufacturers are focusing on improving safety features in micro-mobility vehicles, such as integrating better lighting, advanced braking systems, anti-theft mechanisms, and even collision detection systems. Helmets with built-in sensors and connectivity are also being developed to improve rider safety. Enhanced safety features make micro-mobility vehicles more appealing to a broader audience, including those concerned about the risks of riding in busy urban environments. These features also support regulatory efforts to ensure safer operations on city streets. 

Micro-mobility manufacturers are adopting modular vehicle designs that allow for easier customization and upgrades. These designs enable operators to swap out components like batteries, wheels, or frames based on user needs or wear and tear. Modular designs extend vehicle lifespans and reduce waste, contributing to sustainability goals. They also allow operators to tailor vehicles to specific market demands, such as offering cargo options for delivery services. 

MICROMOBILITY MARKET NEW PRODUCT DEVELOPMENT

Birdintroduced the Bird Three, a next-generation electric scooter featuring a high-capacity battery, improved durability, and enhanced safety features. It is designed for longer distances and improved rider comfort, equipped with sensors for real-time diagnostics, and an anti-theft system. This advanced product is integrated with new features such as larger wheels for better stability, longer battery life, and geo-fencing capabilities for regulated usage. 

Lime launched its Gen4 e-bike, which features a swappable battery system, allowing for more efficient fleet management. The e-bike also includes a more comfortable seat, enhanced pedal assist, and a dual-speed drivetrain for smoother rides over various terrains. The product comes with swappable batteries, improved pedal assist, integrated GPS, hydraulic brakes for better stopping power, and a focus on rider comfort. 

Superpedestrian unveiled the LINK e-scooter, which features their proprietary Vehicle Intelligence System (VIS) that continuously monitors the scooter’s performance and health. It includes self-diagnosing and self-protecting technology, ensuring that the scooter remains operational without needing frequent repairs. 

VOI Technology introduced the Voyager 5 (V5) e-scooter, which is designed with sustainability in mind. It features recyclable materials, a modular design for easy repairs, and enhanced safety features like turn signals and a larger deck for more stability. The V5 is also equipped with advanced IoT sensors and geo-fencing capabilities.  

MICROMOBILITY MARKET SEGMENTATION

Market Segmentation of the Micromobility Market:

By Geography: 

• USA 
• Europe 
• China 
• Asia Excluding China 
• Rest of the World 

By Vehicle Type: 

• Bicycle 
• E-Bike 
• E-Kick Scooter 
• Others 

By Propulsion Type: 

• Human Powered 
• Electric 

By Sharing Type: 

• Docked 
• Dock-Less 

POSSIBILITY OF A SUBSCRIPTION-BASED BUSINESS MODEL

The subscription-based business model makes use of a higher scale and less than 25% average utilization. A very common example is that of annual gym membership, where only 1 in five members turns up regularly. A reasonably priced subscription plan and an expensive short-term plan can result in lower customer acquisition costs and higher loyalty but it can also push short-term customers away.

Uber launched Uber Pass, a $25/month subscription service in the 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 micro-mobility operators will go after this model.ber offloaded Jump to Lime, but there are multiple firms such as Lyft which will look to integrate all forms of mobility services to increase market share across segments as well as increase overall revenue and brand awareness. Micromobility provider Dott has seen a rapid increase in the number of new e-bike and e-scooter riders in Q1 2022.

The driver behind the surge has been new riders, with an 85% increase in first-time users in the first quarter of 2022 and also there has been a 47% increase in rides per week from January to March. The average trip distance has also increased by 10% during the three months, up to 2.1km at the end of March. Peak hours for Dott are between 7 am and 9 am, and from 5 pm to 7 pm, with the average price per trip now at €2.00.

The subscription model will also play well for various users who have a fixed route for the usage of micromobility. This will include last-mile connectivity to and fro work, and transportation around a college campus. Since the vehicles are based on an electric platform, there will be various features that can be easily implemented as well as decreased running costs.

MICROMOBILITY MARKET RECENT DEVELOPMENT AND INNOVATION

With theCosmo X’sintegration of several IoT sensors, users may take advantage of the car’s GPS tracking and locking capabilities as well as real-time status information on the battery and speed. The first electric scooter that can be customized and used to express personal style. 

Veo has been active in the North American shared mobility sector and has established a reputation for its high-quality, domestically designed and produced scooters and bikes. In a market dominated by third-party, off-the-shelf scooters, Veo concentrates on designing and producing long-lasting, cutting-edge automobiles.

TheStriemohas been designed to provide user comfort. To create a micromobility vehicle that enables people to ride with confidence and consideration for their surroundings, by utilizing the expertise in delivering a stress-free, steady, and natural driving experience.

The key characteristics of Striemo are self-balancing and high stability – Striemo self-balances even when stopped due to the innovative Balance Assist System, which makes use of instinctive human reactions. This means that the user can ride at both very slow and cruising speeds with little chance of overbalancing.

More than 30 bike and scooter-sharing startups have cumulatively raised ~$8.5 Billion between 2016 and June 2021. Bike-sharing startups raised ~$5.5 Billion whereas the remaining $3 Billion has been raised by various scooter-sharing startups between 2015 and 2021.

MICROMOBILITY MARKET GROWTH OPPORTUNITIES

If ride-hailing taxis are meant to fill the gap/white space between car ownership and public transport. Micromobility can fill a lot of white space between public transport, short-haul trips, and most importantly – 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 oure-scooter sharing market reportto 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 tune of Billion dollars but now Ofo is mulling for bankruptcy and Mobike is facing an uncertain future. Read ourBike sharing report to learn more

Lime, Tier, and VOI have claimed to have profitable months, the first 3 in this business. Lime doesn’t plan to fundraise as they are reinvesting their profits to deliver new hardware and new modes and expanding to new cities across Europe and beyond.

Data shows investors have injected $371 million into U.S. micromobility firms in 2020, while European rivals have raised $687 million. Europe appears to be the target market for micromobility firms. In the US and Europe where E-bikes and E-scooters are getting increasingly popular, India is witnessing a dramatic rise of conventional gasoline-powered dockless scooters. 

Europe and the USA also saw a new product introduction in the form of mopeds by Lime across various cities though the response is yet to be known. 

Voi Technology announced the launch of the City Innovation Fund – a $3-million commitment to expand parking, improve safety, and advance the sustainability of micromobility vehicles and operations. The fund’s investment priorities include expanded parking options that reduce pavement clutter to ensure cities remain accessible, as well as road safety innovations focusing on novel approaches to infrastructure, rider education, and vehicle technology. 

In addition, the investment will fund projects that improve the sustainability of operations, including support for research and advocacy. Firms are also looking at providing their vehicles for private usage and investing in R&D for these too.

Appless riding is also a key element various firms are looking to so that they can increase the utility among non-app users which improves overall fleet utilization. Therefore, one has to read the market needs and growth signs very minutely before making any claim about the micromobility market’s future growth. To learn more about theGlobal Electric Skateboard Market, read our report

MICROMOBILITY MARKET RECENT ACQUISITION

Helbiz, a micromobility provider, disclosed that it has signed a letter of intent to buy Wheels, a competitor in the market that sells seated scooter versions and has incorporated helmet technology. The “mainly all-stock deal’s” financial details were not made public, but the company said it anticipates completing the acquisition by year’s end.

The company’s objective is “to adapt and grow with profitability at the core of every choice,” according to the statement that the acquisition is “anticipated to quadruple revenue, expand the cities served, enhance margins and cut expenses.” Palella added that the business anticipates becoming profitable in the following 18 months.

In a prior memorandum of understanding signed this year, Wheels and Helbiz announced their intention to work together. Wheels committed to providing Helbiz with an initial fleet of 2,500 seated e-mobility vehicles to launch in four American cities and two Italian “innovation centers.” 

The New York-based company Helbiz claims to have 50 permits to sell micromobility vehicles in the United States and Italy. The announcement from Wheels’ CEO emphasized that there was “little overlap of city permissions” between the two businesses. The Wheel’s footprint spans 12 American cities, four institutions, and 8,000 cars.

MICROMOBILITY MARKET COMPETITIVE LANDSCAPE

The competitive landscape in the global micromobility market is extremely regionalized. There is no clear winner so far but players with bigger scales 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.

In 2020 too they raised $1 B for expansion purposes and R&D. VOI raised $160 M, TIER $ 250 M, and Bolt raised $ 180 M in Q4 of 2020 for mainly expansion. IN 2021, ~150 M was raised. $85 Million was raised by Dott to expand beyond e-scooters with a new bike-sharing service.

Lime is present in 56 cities in the USA and 87 cities across the world outside the USA. Bird is present in 54 cities across the USA and 31 cities across the world. Tier is present in 81 cities in Europe and 1 city in Asia. Bolt is present in 74 cities in Africa, 178 cities in Europe, and 24 cities in the rest of the world.

Striemo Inc.,  a startup founded primarily by Honda engineers in August 2021 through Honda’s new business creation program IGNITION. Striemo Inc. is developing Striemo, an electric micro mobility vehicle that provides a new mobility experience with user comfort front and center, slated for launch by the end of 2022

Striemo will go on sale in Japan before the end of 2022, both for the general public and for enterprise applications in commercial buildings, airports, warehouses, construction sites, and other locations. In preparation for the coming regulations allowing sidewalk riding, we are pushing forward development to take advantage of Striemo’s expertise in providing stability at walking speed.

KEY PLAYERS IN MICROMOBILITY MARKET

• LIME 
• BIRD 
• VOI TECHNOLOGY 
• TIER MOBILITY 
• BOLT 
• SPIN 
• DOTT 
• BEAM 
• YULU 
• NEURON 
• Yego 
• Call A Bike 

THIS MICROMOBILITY MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

1. What are the projected revenue trends for the global micromobility market from 2024 to 2030? 
2. How is the demand for Micromobility expected to evolve across different geographic regions during the forecast period? 
3. What factors are driving the adoption of micromobility in the leisure industry? 
4. What are the key technological advancements influencing the development of Micromobility? 
5. How are traffic regulations impacting the micromobility industry? 
6. What role do collaborations between raw material providers and manufacturers play in shaping the market? 
7. How is the public transportation industry contributing to the demand for micromobility? 
8. What are the emerging applications of micromobility in sectors beyond mobile smartphones? 
9. How do fluctuations in raw material prices affect the profitability of micromobility manufacturers? 
10. What strategies are market players employing to address supply chain disruptions in the electric vehicle industry? 
11. How are advancements in last-mile connectivity solutions impacting the quality and properties of micromobility? 
12. What are the key challenges associated with the manufacturing of micromobility? 
13. How do Micromobility integrated products compare to traditional products in the same application industry in terms of performance and cost? 
14. What are the emerging trends in the design and fabrication of electric vehicle utilization? 
15. How are companies addressing the need for innovative and connected devices through the use of IoT technology? 
16. What are the growth opportunities for micromobility manufacturers in emerging markets? 
17. How is the integration of micromobility in technologies like 5G and IoT driving market expansion? 
18. What role does government support and investment play in fostering innovation in the micromobility industry? 
19. How are micromobility manufacturers addressing concerns related to product reliability and durability? 
20. What are the key factors influencing consumer preferences for micromobility over alternatives? 
21. How are advancements in the industry impacting the demand for IoT-integrated devices? 
22. What are the implications of the micromobility market on the overall semiconductor industry ecosystem? 
23. How are companies differentiating their products and services in the competitive Micromobility market? 
24. What are the emerging trends in the customization of micromobility for specific regions and utilization? 
25. How are advancements in charging infrastructure for electrical vehicles influencing the demand for micromobility? 
26. What are the regulatory challenges faced by micromobility manufacturers in different regions? 
27. How are companies addressing positive growth factors related to the environmental impact of conventional vehicles? 
28. What are the opportunities and challenges associated with the adoption of micromobility in emerging technologies? 
29. How do macroeconomic factors such as GDP growth and inflation rates impact the demand for micromobility? 
30. What are the key considerations for investors looking to enter or expand their presence in the micromobility market?