Global Shared Micromobility Market Size Likely to Surpass at a CAGR of 11.2% By 2033

As per the current market research conducted by the CMI Team, the global Shared Micromobility Market size is expected to record a CAGR of 11.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 2,018.5 Million. By 2033, the valuation is anticipated to reach USD 5,247.7 Million.

Shared Micromobility Market: Growth Factors and Dynamics

• Urbanization and Congestion Mitigation: Rapid urbanization has led to increased congestion and pollution in cities worldwide. Shared micromobility solutions offer an efficient and sustainable alternative to traditional transportation methods, addressing urban mobility challenges and reducing traffic congestion.

• Shift Towards Sustainable Transportation: Growing environmental awareness and concerns about climate change have fueled the demand for sustainable transportation options. Shared micromobility services, powered by electric or human propulsion, promote eco-friendly travel, attracting environmentally conscious consumers and driving market growth.

• First- and Last-Mile Connectivity: Shared micromobility plays a crucial role in providing first- and last-mile connectivity, bridging the gap between public transportation hubs and final destinations. This convenience encourages multimodal travel behaviors, enhancing the overall accessibility and efficiency of urban transportation networks.

• Advancements in Technology: Technological advancements, such as GPS tracking, mobile applications, and battery technology, have significantly improved the user experience and operational efficiency of shared micromobility services. Integration with smartphone apps allows users to easily locate, unlock, and rent vehicles, while battery innovations extend vehicle range and reduce charging times.

• Supportive Regulatory Frameworks: Governments and municipalities worldwide are implementing supportive regulatory frameworks to encourage the adoption of shared micromobility services. This includes establishing dedicated infrastructure, implementing regulations for vehicle safety and parking, and fostering partnerships between the public and private sectors to ensure the sustainable growth of the market.

• Changing Consumer Preferences: Shifting consumer preferences towards flexible and on-demand transportation options has driven the popularity of shared micromobility services. Millennials and urban dwellers, in particular, value convenience, affordability, and sustainability, making shared micromobility an attractive choice for short-distance travel needs. Additionally, the rise of the gig economy and remote work arrangements further boosts demand for flexible mobility solutions.

• Economic Factors and Affordability: Shared micromobility services offer a cost-effective transportation option compared to private car ownership or ridesharing services. With affordable rental rates and pay-per-use models, shared micromobility appeals to budget-conscious consumers, especially in urban areas where parking fees and fuel costs are high. The affordability factor drives adoption among diverse socioeconomic groups, contributing to the expansion and democratization of urban mobility.

Shared Micromobility Market: Partnership and Acquisitions

• In 2022, Bird Global, Inc. introduced the Bird Visual Parking System (VPS), leveraging Google’s ARCore Geospatial API for accurate and scalable parking solutions. This technology, provided free to city partners, requires no infrastructure investment, enhancing parking efficiency and accessibility.

• In 20222, Lyft, Inc. partnered with Mexico City’s Mobility Department to provide bikes, stations, and rider software for the city’s bike share system. Leveraging experience from US systems like Citi Bike and Bay Wheels, Lyft aims to expand its presence and brand recognition in Mexico City.

• In 2022, Bird Global, Inc. is expanding its shared e-mobility programs into new US cities, including San Diego, Memphis, Newark, Durham, Louisville, Bradenton, Knoxville, and Eugene. By extending its presence to additional locations and university campuses, Bird aims to broaden its market reach and accessibility in the US.

Report Scope

Shared Micromobility Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Shared Micromobility Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Decline in Ridership: During the COVID-19 pandemic, shared micromobility services experienced a significant decline in ridership due to lockdown measures, social distancing guidelines, and reduced travel demand. Concerns about virus transmission also deterred users from utilizing shared transportation options, leading to a decrease in usage and revenue for micromobility providers.

• Operational Challenges: COVID-19-related restrictions and regulations posed operational challenges for shared micromobility operators. This included the need to implement enhanced cleaning and sanitization protocols, ensure the safety of fleet maintenance staff, and comply with capacity limits and hygiene measures, all of which increased operational costs and logistical complexities.

• Adoption of Contactless Solutions: Shared micromobility operators implemented contactless rental processes and payment methods to minimize physical contact between users and vehicles. Mobile app-based booking, electronic payment systems, and QR code scanning for unlocking vehicles became standard practices to enhance safety and convenience for users.

• Promotion of Solo Travel: To address concerns about social distancing, shared micromobility providers promoted solo travel and emphasized the use of personal protective equipment (PPE) such as masks and gloves. Marketing campaigns focused on highlighting the safety benefits of using individual micromobility vehicles, encouraging users to prioritize their health and well-being while traveling.

• Expansion of Sanitization Protocols: Operators ramped up their sanitization efforts, implementing rigorous cleaning protocols for shared vehicles and high-touch surfaces. Enhanced cleaning frequency, the use of disinfectant products, and the deployment of dedicated cleaning crews helped restore consumer confidence in the cleanliness and safety of shared micromobility services.

• Collaboration with Public Transit: Shared micromobility providers collaborated with public transit agencies to offer integrated mobility solutions that complement existing transit networks. By strategically deploying micromobility hubs near transit stops and offering discounted fares for seamless transfers, operators facilitated multimodal travel and supported the recovery of public transportation ridership.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Shared Micromobility Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Shared Micromobility Market:

• Lime
• Bird
• Lyft
• Uber (Jump)
• Spin
• Bolt (formerly Taxify)
• Mobike
• Citi Bike (Motivate)
• Ofo
• Voi Technology
• Tier Mobility
• Dott
• Zagster
• Wheels
• Helbiz
• Others

The Shared Micromobility Market is segmented as follows:

By Vehicle Type

• Bicycles:
  • Traditional Pedal Bicycles
  • Electric Bicycles (e-bikes)
• Scooters:
  • Electric Scooters (e-scooters)
• Skateboards:
  • Electric Skateboards

By Trip Purpose

• Commute:
  • Work/School Commute
• Last-Mile Connectivity:
  • Transit Hub Connectivity
• Leisure and Recreation:
  • Sightseeing/Exploring

By Sharing Type

• Docked
• Dock-Less

By Data Service

• Navigation
• Payment
• Others

By Propulsion

• Up to 25 KM
• 25 to 45 KM

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America