Market Research Report
Micromobility Market Research Report: By Type, Scooter Sharing, Kick Scooter Sharing , Regional Outlook - Global Industry Size Analysis, Competitive Share and Growth Forecast to 2025
|Micromobility Market Research Report: By Type, Scooter Sharing, Kick Scooter Sharing , Regional Outlook - Global Industry Size Analysis, Competitive Share and Growth Forecast to 2025|
Published: October 1, 2019
Prescient & Strategic Intelligence Private Limited
Content info: 232 Pages
Delivery time: 2-3 business days
The recent trend in the micromobility market has been the inflow of heavy investments directed toward its development. Major players, along with the numerous start-up companies prevailing in the market, are receiving hefty investments from several venture capitalists. For instance, in 2018, European investors - Index Ventures and Atomico - massively invested in two of the top U.S. micromobility companies, namely Bird Rides Inc. and Neutron Holdings Inc. (Lime), respectively. Index Ventures headed Bird's Series B round with an investment of $100 million, whereas Atomico did not disclose the amount invested in Lime.
The mobility options provided by ride-hailing, carsharing and other similar firms have been unsuccessful in bridging the gap in the market for first and last-mile transportation. Micromobility services play a pivotal role in covering this gap by offering mobility options for shorter distances, which is a key driving factor for the growth of the micromobility market.
Micromobility solutions generally allow commuters to cover a distance of less than 5 miles per trip. In addition, kick scooter sharing companies, such as Bird and Lime, explicitly claimed that they intend to offer mobility services specifically for first and last-mile transportation. Further, these services are mostly provided through the dockless or station-less model, which allows users to drop off the kick scooters at any place as per their convenience. This is further assisting in first and last-mile traveling, thereby driving the growth of the micromobility market.
The global micromobility market is moderately fragmented in nature, with the largest share being held by a considerable number of start-up companies. The market is extensively backed by heavy funding from numerous investors, and it is also witnessing a huge number of collaborations and partnerships among the key manufacturers and different service providers. These developments are massively impacting the nature of the market.
Some of the major players operating in the bike sharing niche of the micromobility market are Ofo, Donkey Republic, Hopr, Mobike, and Nextbike. Lime, Bird, Razor, Bolt, and Skip operate in the kick scooter sharing niche, and Coup, Emmy, Cityscoot, Felyx, and eCooltra in the scooter sharing domain.