PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1682785
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1682785
The global micromobility market is expected to grow significantly, from USD 3.7 billion in 2024 to USD 12.3 billion by 2032, advancing at a CAGR of 16.4%. This growth is driven by the rising demand for cost-effective and sustainable transportation solutions in urban areas, technological advancements in electric bikes and scooters, and increasing concerns about environmental pollution. Additionally, the growing popularity of shared mobility services, such as bike-sharing and scooter-sharing, is further contributing to the market's expansion.
Key Insights
The bike-sharing segment holds the largest market share, accounting for around 60% of the total revenue in 2024, driven by its affordability and environmental benefits.
Kick scooter sharing is the fastest-growing segment, due to its convenience in solving first- and last-mile commuting problems and increasing investments in this category.
Technological advancements, particularly the integration of mobile apps and cloud computing, are enhancing user experience and operational efficiency for service providers.
The demand for micromobility solutions is especially high in Asia Pacific, which remains the largest market, while Latin America is the fastest-growing region.
Subscription-based services are gaining traction, offering more economical options for regular users, further driving the growth of bike and scooter-sharing services.
Dock-less models are becoming increasingly popular due to their convenience and lower infrastructure costs, leading to higher adoption in various cities.