The Micro-Mobility Market is estimated to grow from USD 3.4 billion in 2022 to USD 6.1 billion by 2027 at a CAGR of 12.5% over the forecast period. Rapid urbanization, increasing cost of vehicle ownership and increasing demand of on-demand public transportation system in smart cities drive the development of the micro-mobility market during the forecast period.
The passenger faces various problems regarding first mile and last mile transportation. In various countries such as US, Canada, Australia, New Zealand, and others most of the people are not comfortable walking more than 1 km distance. Micro-mobility is the best solution to fill the gap between first mile and last mile transportation need. Below mentioned factors are responsible for the growth of micro-mobility market across the globe.
The most vital driver for the development of micro-mobility is the rapid urbanization around the world. According to World Bank, most of the population living in cities has shifted to their countryside; still, the urbanization rate in 2021 was close to 56% globally, which was 55% in 2020. According to the World Health Organization (WHO), approximately 50% of the world’s population lives in urban areas, a proportion that is likely to increase to around 60% by 2025.
According to World Bank, by 2045, the world’s urban population will increase by 1.5 times to 6 billion. The increasing number of cars used by a large section of this population has added to road traffic congestion and parking problems in urban areas. This has led to the rapid development of regularized public transport systems.
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The rising urban population and increase in development of smart cities further increase the demand for on-demand public transport. Micro-mobility implementation is further driven by regulations and an emerging focus on smart city initiatives.
According to the European Commission, the smart cities project market is expected to exceed USD 2 trillion by 2025, with Europe speculated to have the highest investment globally. With 12 cities in the region ranking among the top 25 in the world, Europe continues to be the best positioned geographical area for smart cities. Copenhagen, Amsterdam, London, Vienna, Paris, Barcelona, Stockholm, Berlin, and Helsinki have already initiated the development of smart city platforms.
The complete transformation of these cities to smart cities is likely to occur gradually with projects in the next decade. Additionally, increasing urbanization will accentuate the need for better mobility services. Cities will continue with transformative changes to improve the quality of life by investing in urban mobility solutions. This would result in better transportation systems, which would continuously bring changes in transport policies.
In public transportation, the biggest problem is high amount of carbon emission, furthermore, road transportation contributes to 23% of caron dioxide emissions globally. The micro-mobility vehicles such as bicycles, e-bike, e-kick scooters, and e-mopeds don’t consume fuel and don’t have conventional engines, hence, don’t release any harmful emissions. According to European Commission’s Directorate General for Mobility and Transport, replacing 8% of road vehicles with electric vehicles can reduce emissions by 80% by 2050.
Key Market Players
The Micro-Mobility Market is dominated by a few globally established companies such as Bird Global, Inc. (US), Lyft, Inc. (US), Lime (US), Helbiz Inc. (US), Dott (Netherlands). TIER (Germany), Bolt (Estonia), Voi (Sweden), and Veo (US).
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The 5G enterprise market size is predicted to reach USD 31.4 billion by 2027 according to a new study by Polaris Market Research.
The report “5G Enterprise Market Share, Size, Trends, Industry Analysis Report, By Access Equipment Type (Radio Node, service Node, DAS); By Core Network Technology (SDN, NFV); By Service(Platform and Software); By Organization Size(SMEs, Large Enterprises); By End User (BFSI, Media and Entertainment, Retail and Ecommerce, Healthcare and Life Sciences, Government and Defense, Transportation and Logistics, Manufacturing, Agriculture, IT and Telecommunications, Others); By Regions; Segment Forecast, 2020 –2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.
5G is the latest model of the cellular mobile communications with updated and latest technology is very speedy and when combining with new innovative technologies such as Internet of things and smart manufacturing capabilities are going to generate a whole exquisite experience for the customer.
They will establish new connectivity, which will assist the businesses to widen their capabilities.
Recent developments in the market include X50 (baseband), X55 (baseband), X60 (baseband), Snapdragon 765 and 765G, Snapdragon Serie 6, Exynos 5100, Dimensity 1000L SoC / MT6885 based on Helio M70 and Makalu Ivy510.
These instruments offer new and advanced technological features and supports 5G NR radio interference.Get Sample PDF @ https://www.polarismarketresearch.com/industry-analysis/5g-enterprise-market/request-for-sample The prominent factors favoring the global market growth include rising demand of smartphones with advanced features and increasing demand for single network to allow several industries coupling with increasing new developments.
The report "Near Field Communication Market with COVID-19 impact by Device operating mode (Reader emulation, Peer-To-Peer, and Card Emulation), Offering (Non-Auxiliary products, Auxiliary products, and Softwares), Application, and Region - Global Forecast to 2025", is expected to grow from USD 18.0 billion in 2020 to USD 34.9 billion by 2025, at a CAGR of 14.2%.
Browse 133 market data Tables and 53 Figures spread through 184 Pages and in-depth TOC on "NFC Market with COVID-19 impact by Device operating mode (Reader emulation, Peer-To-Peer, and Card Emulation), Offering (Non-Auxiliary products, Auxiliary products, and Softwares), Application, and Region - Global Forecast to 2025" Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=520 Reader emulation is attributed to hold the largest share of the NFC market The market for reader emulation is projected to witness highest growth in the NFC market for the forecast period, as the majority of mobile phone and retail applications use NFC chip in reader emulation mode.
There is high adoption of NFC-based mobile wallets, such as Goggle pay, Samsung pay, Apple Pay, and Android Pay, which are expected to witness the highest CAGR in the coming years, owing to the high demand originating from payments.
Consumer electronics accounted for a major share of the overall NFC market Consumer electronics is the largest application industry for NFC and accounted for a major share of the overall NFC market with the commercialization of the technology in smartphones, media tablets, smart TVs, set-top boxes, and gaming consoles.
The growth of the NFC market in APAC is mainly driven by increasing developments (such as R activities, investments, and partnerships among companies) related to NFC in countries such as Japan, China, and South Korea.
Additionally, it has some of the world’s fastest-growing and leading industrialized economies.
Global Dairy Alternatives Market is projected to reach USD 35.6 billion by 2024.
The Dairy alternatives-based food and beverages are prepared from dairy-free milk, extracted from several plant-based sources such as soy, rice, almond, coconut, and others.
The dairy alternatives have a robust demand with respect to manufacturing medical food for their lactose-free nature, lactose intolerance ailments.
Moreover, the dairy alternatives offer several benefits such as increasing awareness among people, and as the dairy alternatives products contain vitamin, high calcium, the market will upsurge in the forecast period.
The factors that attribute to the growth of this sector is the prevention of breast cancer, and heart diseases, will upsurge the market growth in the upcoming period.Request Sample Copy of This Market Research @ https://www.millioninsights.com/industry-reports/dairy-alternatives-market/request-sampleDairy alternatives industry may be explored by application as Food, and Beverages.
Dairy alternatives market may be explored by distribution channel as Supermarket, Convenience Retailers, PharmacyAsia-Pacific has been at the forefront with regards to dairy alternatives industry and will continue to rule the roost in the years to come.
