Market Trends of Micro Mobility Industry
Docked Micromobility Paving the Way for Sustainable Urban Transportation
The docked segment is projected to dominate the micromobility market during the forecast period. This can be attributed to a combination of factors that cater to both service providers' and users' preferences. The reliability and structure of docked systems have made them a leading choice, generating substantial value on a global scale. The provision of designated stations for docking micromobility vehicles such as bikes and scooters appeals to users, simplifying the process of hiring and returning these vehicles while being assured of a sense of security and convenience.
Docked systems mitigate the risks of theft and vandalism, a common concern associated with dockless alternatives, thus offering a more sustainable and dependable service. The availability of dedicated infrastructure also indicates a higher demand for station-based solutions, which, in turn, fuels further investments and developments within the industry.
In addition, key players such as Swiftmile, Charge, and Charge are actively expanding their networks, focusing on the strategic placement of stations on private properties and collaborating with parking facilities to enhance accessibility. For instance,
- In February 2023, Lyft disclosed its plan to introduce dockable e-scooters, aiming to create a more organized shared micromobility landscape.
These developments, supported by a growing preference for sustainable urban transportation options, suggest a robust future for the docked micromobility segment as a market leader.
The Asia-Pacific Micromobility Market is the Fastest-growing Globally
Asia-Pacific is the fastest-growing regional market for micromobility globally due to a multitude of factors. The region has a high urban population density, which fosters the demand for efficient, affordable, and flexible transportation options to alleviate the challenges of traffic congestion and air pollution. As economies in the region grow, there is a rising middle-income group with disposable incomes, yet many individuals in these populations look for cost-effective travel solutions.
Moreover, investments in smart city projects across Asia-Pacific countries have led to an integration of micromobility services with public transportation systems to offer last-mile connectivity, which is essential in sprawling urban areas. In addition, the technological adoption rate is high, with consumers readily embracing app-based services for transportation. The proliferation of smartphones and internet connectivity has made access to micromobility platforms easier, contributing to their growth.
Furthermore, several governments in Asia-Pacific have started to implement favorable regulations and policies that encourage the use of micromobility services. These include investments in infrastructure, such as dedicated bike lanes and parking spots for docked and dockless vehicles, which improve safety and accessibility for users.
- In June 2023, Singapore-based Beam’s partnership with Primer enabled Beam to expand to five new international markets, giving its users quick and seamless access to pay and ride its fleet of electric scooters, bikes, and mopeds.
