The global micromobility platform market size is likely to be valued at USD 6,320.0 million in 2023. The market is expected to reach USD 22487.8 million by 2033, expanding at a CAGR of 13.5% from 2023 to 2033.
Micromobility platforms currently represent around 30% of sales in the overall micro mobility market. Due to rising government initiatives for environmental protection and transportation infrastructure, the concept of micromobility platforms is significantly gaining traction in many countries around the world.
Micromobility platforms make public transportation accessible, lessen the number of cars on the road, reduce their impact on the environment, and offer practical ways to get around for quick journeys that are also affordable among their numerous applications.
The global micromobility platform market has a lot of potential to grow, thanks to ongoing efforts that are being made around the world to establish smart cities and automotive infrastructure. Additionally, the presence of several small vehicle fleet owners has encouraged them to work together to support the idea of micromobility through their investments and development strategies.
South Asia & Pacific is estimated to be the significantly growing region in the market and is anticipated to expand at a rate of 18.9% during the forecast period from 2023 to 2033. Companies operating in this region are making money by marketing their goods abroad, either through their distribution networks or through the OEM market.
| Attribute | Details |
|---|---|
| Global Micromobility Platform Market Estimated Size (2023E) | USD 6,320.0 million |
| Projected Market Valuation (2033F) | USD 22,487.8 million |
| Value-based CAGR (2023 to 2033) | 13.5% |
| Collective Value Share: Top 5 Vendors | Around 40% |
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The micromobility platform market is estimated to thrive at 13.5% CAGR between 2023 and 2033 in comparison with the 11.4% CAGR registered during the historical period from 2018 to 2022. The increasing population and ongoing development of cities worldwide are likely to drive the market. Additionally, micromobility could help with a few issues, as many cities currently struggle with unsafe pollution levels and congested roadways.
Urban transportation has undergone revolutionary transformations, due to the general trend toward sustainability among individuals over the past few years. This has further made it possible for well-known suppliers of micromobility solutions to create a sustainable vehicle infrastructure. Also, platforms for micromobility are significantly gaining popularity among millennials and members of Generation Z worldwide on the back of the rising need for smooth transportation systems.
E-bikes and e-kick scooters are two examples of on-demand micromobility services that offer flexibility, fare comparison, and other features like real-time feedback and review ratings. Furthermore, location, price, and demand-supply determination have become much simpler with the introduction of various mobile applications. Growing demand for transportation services related to micromobility would thus propel the global market in the evaluation period.
Government bodies are also focusing on investing huge sums in the development of e-bike infrastructure. In August 2022, for instance, Ohio University and the City of Athens joined hands to allow e-bikes and e-scooters. They have coordinated with Bird, which is a leading provider of environment-friendly electric transportation. This initiative might enable users to activate their transportation options through Bird’s mobile phone application. It might replace gas-powered car trips on a daily basis.
Urban mobility is consistently changing as a result of the significant growth of digital platform-based transportation services worldwide. Micromobility, or fleets of dockless bicycles and scooters, is the new investment area, particularly in the United States of America’s micromobility platforms that use affordable, GPS-equipped vehicles. These are kept in public spaces to quickly deploy with little public planning or investment and no established infrastructure. As a result of the advantages of private platforms, these services represent a furthering of the neo-liberalization of transportation.
The Rising Use of Micro Mobility Scooters by Tourists in the United States of America to Aid Growth
The United States of America’s micromobility platform market accounted for nearly 82.4% of North America’s market share in 2022. Also, increasing acceptance of e-bikes and e-scooters in the country might lead to growth as a result of their increased reliability, portability, and efficiency as viable options for daily transportation.
Since tourists use a variety of micromobility vehicles as a driving substitute to explore various locations, the use of micromobility solutions in the United States of America is rising. This provides them with a simple and affordable riding experience, which is improving the outlook of micromobility platforms.
The rising demand for scooters, bikes, and skateboards among other vehicles for delivering goods like medicines is propelling the demand for micromobility platforms across the United States of America. For instance,
The launch of similar new products by key players and new entrants across the United States of America might thus drive the market.
High Demand for Short-range Vehicles in the United Kingdom to Drive Sales of Micro Mobility Systems
According to FMI, the United Kingdom is predicted to expand at a CAGR of 16.1% during the forecast period. Micromobility is proving to be an appealing option for many journeys, from last-mile delivery vehicles to commuters in the United Kingdom.
The requirement for a short-range, low-emission alternative to passenger cars is clear with 25% of journeys in England under one mile and 68% under five miles. While automobility, particularly electric vehicles (EVs), offers situational and capacity advantages, it is ill-suited to efficiently transport people on such short journeys. Thus, demand for micromobility platforms in the United Kingdom is estimated to grow over the coming decade.
In November 2021, HumanForest, a shared transport company based in London, announced that it is providing a new sustainable last-mile delivery service that enables businesses to use its shared e-bikes for eco-friendly and quick deliveries. Further, the new system might let businesses gain access to the company’s green e-bike platform by purchasing bundles of riding minutes.
Introduction to such innovative plans to help the commercial sector to reduce the overall cost of transportation is likely to aid growth in the United Kingdom
The Government is Taking Initiatives to Accelerate the Expansion of the Micro Mobility Sector
According to FMI, India is estimated to expand at a CAGR of 22.4% during the forecast period. As the market for micro-mobility in India is expanding at a significant pace, many companies have started providing e-bikes and e-scooters on rent as an option to lower the cost of renting, as compared to cab services and traditional transportation modes.
Micromobility in India can be considered an emerging trend with several benefits. The Chandigarh Administration, for instance, brought about changes in the city’s public bicycle-sharing project owing to poor response from both advertisers and cyclists in August 2022.
Nearly 62 of the existing 310 docking stations are projected to be relocated to evoke many responses. Under the new project, about 617 docking stations were planned. Therefore, similar government initiatives to attract several people toward micromobility solutions might drive India’s market.
Bicycles and E-bikes are the Most Preferred Type of Micro Mobility Vehicles
By vehicle type, the bicycles and e-bikes segment is predicted to create an absolute dollar opportunity of USD 5,440.8 million by the end of 2033. To lessen the burden on public transportation systems, several countries are making an effort to expand the use of electric bicycles by enacting regulatory and subsidy measures.
When compared to other forms of transportation like buses and cabs, e-bikes are convenient to charge, inexpensive, and do not require significant investments in terms of infrastructure development.
Users are Looking for Mobile Electric Micromobility Platforms
The mobile segment is anticipated to expand at a CAGR of 14.6% during the forecast period. The development of a new generation of cutting-edge bicycles, skateboards, and scooters through the use of superior sensor technology, AI-driven analytics, and fitness science is anticipated to augur well for the segment.
Increasing demand for cellular low-power wide area network (LPWAN) applications across the globe is likely to drive mobile micromobility platforms. E-bike, e-scooter, and shared bicycle fleets are small, lightweight connected vehicles that represent urban surroundings. These require dependable connectivity to be tamper-proof & secure and preserve battery life. To enable notable expansion, integrated SIM or iSIM technology is utilized as it has the ability to overcome these crucial issues.
Commercial Sector to Extensively Utilize Micro Mobility Solutions
The commercial segment is anticipated to expand with a high CAGR during the forecast period. The segment is set to account for nearly 54.6% of the share in the global market by 2033. Further, micromobility platforms are becoming widely used in the business world since they provide personnel with various ways to efficiently transfer things.
One of the most economical means of transportation for business use is provided by e-bikes and e-scooters. Hotels, restaurants, and stores utilize e-bikes to carry meals, supplies, and medications. Further, micromobility products such as e-scooters, e-bikes, and self-balancing scooters are also used in commercial ride-sharing programs in cities and towns.
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Micromobility platform providers are focusing on strengthening their regional and global production networks with new product launches, collaborations, and partnerships with leading industry players. These vendors hold expertise in the micromobility industry and have strategic footprints spread across various parts of the world.
For instance,
Are Micromobility Platforms the Future of How We Commute? Bolt, Jugnoo, Luna, and Helbiz Seem to Think So!
Bolt Mobility is on its stated goal of becoming the largest micromobility provider in Europe. The company is a leading manufacturer of a wide range of micromobility platforms such as e-scooters. It has a strong presence across the globe and is launching its products in new cities to drive expansion.
Bolt Mobility also provides its retailers with high flexibility to run their operations as per their needs and requirements. For instance, in 2019, the company announced that might be transitioning from a hierarchical model to offer independent owners and operators’ great control in running day-to-day operations.
The company is further betting big on the future of micromobility platforms. In an interview with Bloomberg in May 2022, the company’s CEO Ignacio Tzoumas said that the organization is firmly committed to investing heavily in micromobility solutions.
India-based Jugnoo is another credible name when it comes to micromobility platforms. Jugnoo provides its end users with a single platform to run their entire micromobility business. The salient feature of Jugnoo’s micromobility solution is its vehicle integration feature which is compatible with any type of vehicle and fleet.
Luna Systems, on the other hand, provides AI and computer vision to help micromobility companies operate their business in an efficient way. Luna offers seamless UI on its platform which includes features such as pedestrian detection, sidewalk riding prevention, compliant parking, and camera-as-a-sensor.
Luna also delivers an AI parking selfie feature which is a low-cost solution to help visitors park their vehicles in virtual docks at the end of each ride. Further, the company is expanding at a fast pace and tapping into new markets. Its CEO Andrew Fleury has set a new target of selling nearly 1 million e-bikes and e-scooters by 2025.
Helbiz offers a wide range of micromobility solutions, including e-scooter, e-bikes, and e-mopeds. The company has a strong presence in North America and is expanding to many cities. For instance,
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 6,320.0 million |
| Projected Market Valuation (2033) | USD 22,487.8 million |
| Value-based CAGR (2023 to 2033) | 13.5% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value (USD million) |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; and the Middle East & Africa |
| Key Countries Covered | The United States of America, Canada, Brazil, Mexico, Germany, the United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Malaysia, Indonesia, Singapore, Australia & New Zealand, GCC Countries, Türkiye, Northern Africa, and South Africa |
| Key Segments Covered | Vehicle Type, Platform Type, End User, and Region |
| Key Companies Profiled | Bolt Mobility; Jugnoo; Velvioo LLC; Luna Systems; Helbiz; Otonomo Technologies; Vulog; Joyride; Hellotracks LLC; Aeris Technologies; INVERS GmbH; CycleHop LLC |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities, and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global market size is to reach USD 22,487.8 million by 2033.
Government initiatives are the top trend in the market.
The market is estimated to register a CAGR of 13.5 through 2033.
The commercial segment is set to hold high revenue potential through 2033.
The United States may witness significant growth in the market.
| Market Value (2023) | USD 9,843.5 million |
|---|---|
| Market Value (2033) | USD 29,959.8 million |
| Market Projected CAGR (2023 to 2033) | 11.4% |
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