Detailed Information on Micro Mobility Meaning | Market Size and Behaviour | Market Research Report

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. End-to-end connectivity via these low-cost modes is a lucrative option for service providers as well as consumers. These factors help in lowering the initial cost of investment for the company and enabling them to offer a low-cost travel mode in the form of micro mobility to the end users. The mobility ecosystem has accepted electric vehicles and personal portable devices extensively in the shared mobility services. Micro mobility has experienced widespread acceptance, owing to the global accessibility of the internet, which has almost doubled during the past three years (2017-2019).

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. 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. 

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. Over the last few years, micro mobility solutions have seen significant growth and development. It is now a common sight on many city streets of the cities. Facilitating this growth has been a surge of venture capital investment that has resulted in the emergence of many new companies demonstrating healthy growth. However, with the growing popularity, many rival companies and investors have started to think about real profit, rather than aggressive growth. There are still major challenges faced by micro mobility. The severe impact of COVID-19 on many micro mobility companies has also underlined the financial instability of many companies. Beyond usage statistics and market valuations, it is also important to consider the added value of micro mobility and how it fits into the long-term sustainable plans of the cities.

Business and corporate strategies provide an organization the edge to understand its key business strategy in the industry, its current competitors, and potential future competitors that might have made their way into the market. This chapter details the latest strategies and developments adopted by the key market players in the global micro mobility market. The global micro mobility market has witnessed several strategic and technological developments in the past few years, undertaken by the different market players to attain their respective market shares in this emerging domain. Some of the strategies covered in this segment are product launches, business expansions, partnerships and collaborations, and investments. With the increase in the population as well as intense competition between the micro mobility players globally, the deployment of micro mobility fleet does not appear to be easy anymore. There are set regulations that have to be followed across cities, and these regulations are getting stricter with time. A major hurdle for the companies lies in complying with these regulations and ensuring that all the city laws and regulations are being followed. To overcome these issues, companies need to track vehicle metrics, such as speed, time taken to reach the destination, the route that is being followed, the place where vehicle is parked, and so on. This can be achieved by installing IoT devices in vehicles, such as GPS trackers and sensors. Using these solutions, the vehicle can be wirelessly controlled to abide by the city regulations. These solutions also help them in finding the nearest dock in case of electric scooters and charging stations. In case of wrong parking, the IoT devices are now smart enough to notify the rider about the correct parking space that prompts them to park their vehicles in place.

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?

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.

Get the free sample report of global micro-mobility market only at Bis Research