PUBLISHER: Allied Market Research | PRODUCT CODE: 1566917
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566917
Bike and Scooter Sharing Telematics Market
The bike and scooter sharing telematics market was valued at $3.8 billion in 2023 and is projected to reach $8.1 billion by 2033, growing at a CAGR of 7.9% from 2024 to 2033.
Bike and scooter sharing telematics involves the usage of telecommunications in vehicular technologies to facilitate the sharing of data crucial for the regulation and optimization of bikes & scooters. A range of hardware and software solutions are integrated into the vehicles for real-time tracking and maintenance. The anti-theft measures of telematics technology are significantly strong, owing to telemetry and GPS.
Increase in the ownership of bikes and scooters due to rapid urbanization is a key driver of the bike and scooter sharing telematics market. In addition, rise in demand for seamless experience while riding is boosting the integration of telematics features into bikes and scooters that include the Internet of Things, global positioning system, and mobile technology. Governments of different countries are constantly providing incentives and subsidies to promote the adoption of telematics into vehicles, thereby augmenting the development of the market. In the future, the trend of assimilating adtech into bike and scooter sharing telematics is poised to acquire noteworthy traction. This assimilation is expected to be an innovative measure for the advertisers and publishers to deliver & regulate their digital ads by targeting the potential customers using vehicle telematics systems.
However, investment in latest technologies is a consistent expenditure which deters several budget-sensitive consumers from integrating telematics into their bikes or scooters. This acts as a major restraint for the market development. In addition, limitations in infrastructure hamper the market growth as the non-availability of network in certain regions obstructs the efficacy of the telematics system. On the contrary, the market is anticipated to witness several lucrative opportunities due to surge in smart city initiatives and integration of bikes & scooters with multi-modal transportation systems. Worldmetrics-a statistics & metrics data aggregation platform-states that by 2028, the adoption of telematics into the automotive sector is projected to increase by 17.9%.
Segment Review
The bike and scooter sharing telematics market is segmented into service type, operational model, propulsion, vehicle type, and region. On the basis of service type, the market is bifurcated into pay-as-you-go and subscription pay-as-you-go. Depending on operational model, it is divided into dockless and station-based. As per propulsion, it is classified into pedal, electric, and gasoline. By vehicle type, it is categorized into bike, scooter, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of service type, the subscription pay-as-you-go segment dominated the market in 2023.
Depending on operational model, the dockless segment acquired a high stake in the market in 2023.
As per propulsion, the electric segment was the highest shareholder in 2023.
By vehicle type, the scooter segment held a high share in the market in 2023.
Region wise, Asia-Pacific was the highest revenue generator in 2023.
Competition Analysis
The major players of the global bike and scooter sharing telematics market include DOTT, Lime, DSV, Anywheel Pte. Ltd., Blinkee.city, Bixi Montreal, Bird Rider Inc., Cooltra, TIER, Hello Cycling, Hellobike, BinBin, Poppy, Beam Mobility Holdings Pte. Ltd., Bolt Technology OU, Lyft, Inc., Yulu Bikes Pvt Ltd, Marti Technologies, Inc., Uber Technologies, Inc., Donkey Republic, Hop Electric Mobility, Voi Technology AB, Zoomo, Spinlister, YEGO Urban Mobility SL, Spin, Emmy Sharing, Nextbike GmbH, Jump, Inc., Cityscoot, Neuron Mobility, Helbiz, Ridemovi S.p.A., The Swing Corporation, Blue Bikes, Didi Chuxing Technology Co. Ltd., Docomo Bike Share, Inc., The Forest Company, Freebike, JCDecaux, Mevo, Inc., and MYBYK. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
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