Technological innovations in the transportation industry encompass a comprehensive range of mobility methods delivering a broad range of products to the industry. Today’s consumer is well-connected and well-informed, leading the major operating players to research, develop, and technologically evolve continuously to safeguard their position in the ecosystem. Transportation system regulations are primarily designed around demographic needs based on government policy frameworks. Some of the essential criteria taken into consideration while creating a policy regulation for a specific region are socio-economic conditions, commuter lifestyle, degree of technology acceptance, demographic terms, infrastructure availability, and global economic conditions.
Read Report Overview: Global Micro Mobility Market
Various cities of the country face a constant array of challenges. Some of the major challenges include congestion, loss of public/green spaces, reduced social mobility and accessibility, and poor air quality. These all are the significant challenges that inhibit the functionality and comfort of urban areas. The economic cost of these inconvenience factors has been recognized by the cities. Vigilant understanding of the health-related impacts created a growing impetus for cities to deal with transport issues. These issues are regulated and supported by legislation and standards. The growing environmental concerns and impact on climate have provided another powerful driving force for the change.
Private Application of Micro Mobility to Dominate Market
The private segment is currently the largest application of micro mobility globally, as a majority of the demand for these services is generated by the consumers who use micro mobility for their personal mobility. However, with the increasing growth for on-demand delivery services, the commercial application segment is expected to pick up pace during the forecast period.
Micro mobility is the concept of utilizing various modes of portable transportation to travel short distances. These modes of transportation include bikes, scooters, bicycles, and autonomous shuttles, among others. Micro mobility can also be utilized commercially by companies as a mode of delivering goods and on-demand services to its customers. The vehicles used in the micro mobility modes of transportation are fuel-efficient and eco-friendly, as most of the vehicles are either electric motor-driven or peddle-driven. In cities, adapting micro mobility can help to subside the increasing urbanization and congestion, as micro mobility services provide an ease of access to public transportation and hence reduce the volume of vehicles on the roads. Micro mobility transportation also provides a cost-effective and accessible mode of transit to its users. As the micro mobility industry is consistently growing, many countries are promoting the use of micro mobility startups in their cities by providing specific areas for micro mobility trials, building infrastructure, and helping to coordinate with the micro mobility companies to form regulations.
Key Questions Answered by This Report:
- What is the global micro mobility market size in terms of revenue from 2019 to 2025?
- What are the major consumer demands and expectations effectively fulfilled by micro mobility?
- What is the potential impact of COVID-19 on the micro mobility market?
- What are the drivers, restraints, and opportunities for the market for the period of 2019 to 2025?
- What are the impacts of micro mobility service on the global environmental issues?
- What are the key developments and strategies of the companies in the market?
- Which region is estimated to have the highest market potential in the period 2019–2025, and how is the market expected to grow in the same period in other regions?
- Which are the key companies in the industry, and how are they expected to perform in the ecosystem?
- What is the market forecast by application and product for the period 2019–2025?
- What is the estimated market value by region during the period 2019–2025?
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The micro mobility market is not expected to experience the same degree of development for every region or platform. Hence, this report segments the market accordingly and breaks down the industry geographically as follows: North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, and Rest-of-Europe), the U.K., China, Asia-Pacific & Japan (Japan, India, South Korea, and Rest-of-APJ), Rest-of-the-World.