Market Research Report
Government Push and Disruptive Technologies Driving Growth of the Global Bike-Sharing Market
|Published by||Frost & Sullivan||Product code||982326|
|Published||Content info||74 Pages
Delivery time: 1-2 business days
|Government Push and Disruptive Technologies Driving Growth of the Global Bike-Sharing Market|
|Published: December 15, 2020||Content info: 74 Pages||
Future Growth Potential Enhanced by Integration with Other Mobility Modes to Provide First- and Last-Mile Mobility
Globally, bike-sharing is poised to grow as one of the most attractive forms of sustainable mobility in the future. While the market has been impacted severely by the COVID-19 crisis, it has also been one of the first mobility markets to regain a surge in demand. Bike-sharing has emerged as one of the most convenient, affordable, and safest modes of travel in these challenging times, with the trend expected to continue in the new normal. Frost & Sullivan analyzed the key trends expected to drive the global bike-sharing market from a short-term and long-term perspective. The aim of the study is focused on analyzing the current state of the bike-sharing market and identifying the key underlying challenges and growth opportunities for various stakeholders across the bike-sharing value chain.
In 2019, the global bike-sharing market recorded revenues of approximately $5.2 billion. This is expected to cross the $6 billion mark in 2020 with impacts due to the COVID-19 pandemic. Globally, China currently holds the largest bike-share fleet contributing to approximately 97.1% of the global fleet size. That stated, several countries are beginning to emerge as high potential markets for bike-sharing consumption. Technology advancement is one of the key disruptive trends affecting the growth of bike-sharing services. Today, technology providers offer a host of solutions for bike-share fleet operations ranging from a complete fleet management and operations suite to offering dedicated solutions. These include infrastructure solutions (e.g., smart docking stations, solar-powered charging stations, and mobility hubs), hardware solutions (e.g., smart locks and sensors), and high-end software solutions (e.g., mapping and navigation, bike fleet security, real-time fleet data and analytics, and intelligent fleet management driven by AI engines and IoT sensors).