The micro-mobility industry is a rapidly expanding market with a wide range of opportunities for businesses. The industry is described by the usage of lightweight, small personal transportation devices like bicycles, scooters, and skateboards, which are typically utilized for short distances, delivering a cost-effective and convenient option to conventional forms of transportation.
The effect of the micro-mobility market on cities around the world is already becoming clear. Electric scooter companies, for instance, have become a common presence in cities like San Francisco, revolutionizing the way people drive around. Also, the industry is growing beyond just personal transportation, with companies utilizing electric bicycles for package and food deliveries, and even electric skateboards for commuting in some regions of China. In addition to this, according to the research report of Astute Analytica, the global micro-mobility market is growing at a compound annual growth rate (CAGR) of 15.3% during the forecast period from 2023 to 2031.
The role of micro-mobility in shaping the transportation industry is: -
Micro-mobility Vehicles Give an Option to Driving
Many people drive not because they particularly want to, but because there are not any appealing options. Conventional bicycles are pretty limited in what they can do and are not appropriate for people who do not want to exercise on the way to work. Self-propelled small vehicles like e-bikes and e-scooters, deliver an alternative. The competition among companies and increased availability of shared scooters that deliver this service have also made them quite inexpensive.
Micro-mobility Creates Public Transport More Practical
Urban transportation services are advertised as being a green option to utilizing a car. Depending on the density and availability of public transport routes, though, they may not always be suitable for all commuters. Many are ready to travel by public transport, but the nearest pickup point might be too far to walk to. Micro-mobility vehicles such as skateboards and electric scooters assist in overcoming this issue; they are portable, indicating they can be utilized to travel to the pickup point and then conveniently carried onboard.
Micro-mobility Leads to Fewer Vehicles on the Road
The rise in the usage of micromobility is likely to lower the number of large vehicles on the road. This has clear environmental benefits, but can also create a city more comfortable with less traffic and less noise. The variety of fewer vehicles and more people utilizing micro-mobility can also influence urban design, with the introduction of more bike paths and devoted public transport lanes.
Micro-mobility Is Cheaper Than a Car
Micro-mobility is more affordable than driving a car and is often cheaper than utilizing public transport. While there are many costly micro-mobility vehicles, buying them outright is a one-time fee; the constant costs thereafter are marginal corresponding to something like a gasoline-powered car. Basic micromobility vehicles are also evolving increasingly inexpensive. The growth of rentable micro-mobility vehicles also gives an affordable way to travel without any upfront investment.
Micro-mobility Leads to Fewer Vehicles on the Road
The growth in the usage of micro-mobility is likely to decrease the number of large vehicles on the road. The combination of fewer vehicles and more people utilizing micro-mobility can also influence urban design, with the introduction of more dedicated public transport lanes and bike paths.
