The Latest Micro Mobility Industry Statistics Explained
The global micro-mobility market size is valued at $3 billion.
The statistic “The global micro-mobility market size is valued at $3 billion” indicates the total estimated value of the micro-mobility market worldwide. Micro-mobility refers to transportation solutions such as electric scooters, bicycles, and other lightweight, short-distance vehicles that are typically shared or rented. The $3 billion valuation suggests the economic significance and growth potential of the micro-mobility industry, highlighting the increasing adoption of these alternative modes of transportation in urban areas. This statistic is crucial for investors, policymakers, and industry stakeholders to understand the market dynamics and trends, and to make informed decisions regarding investments, regulations, and strategic partnerships within the micro-mobility sector.
The market is expected to grow at a compound annual growth rate (CAGR) of 13.7% from 2020 to 2030.
This statistic indicates that the market is projected to experience a consistent growth rate over the period from 2020 to 2030, with an average annual increase of 13.7%. The compound annual growth rate (CAGR) takes into account the compounding effect of year-over-year growth, providing a smoother representation of the overall growth trajectory compared to simple annual growth rates. This forecast suggests that the market is expected to expand significantly over the decade, driven by various factors such as increasing demand, technological advancements, or market trends. As a result, stakeholders can use this information to make informed decisions regarding investments, resource allocation, and strategic planning for the future.
More than half of the world’s population now live in cities, emphasizing the growing need for micro-mobility solutions.
The statistic that more than half of the world’s population now live in cities highlights a significant global trend towards urbanization. This steady migration to urban areas has resulted in congested city streets, pollution, and increased demand for transportation solutions. With cities becoming more densely populated, there is a growing need for innovative and sustainable mobility options that can help alleviate traffic congestion and reduce environmental impact. Micro-mobility solutions such as electric scooters, bikes, and shared transportation services have emerged as cost-effective and environmentally friendly ways to navigate urban environments, offering a practical and efficient means of transportation for city dwellers. This statistic underscores the pressing need for cities to prioritize the development and integration of micro-mobility solutions into their urban infrastructure to address the challenges posed by the increasing urban population.
Micro-mobility could theoretically encompass all passenger trips under 5–10 miles, which account for as much as 50 to 60 percent of today’s total passenger miles.
The statistic states that micro-mobility has the potential to cover a significant portion of passenger trips that are under 5-10 miles, which currently make up approximately 50 to 60 percent of all passenger miles traveled. This suggests that micro-mobility options such as bike-sharing, e-scooters, and small electric vehicles could provide a sustainable and efficient alternative for a substantial portion of short-distance trips that people commonly take. By utilizing micro-mobility services for these shorter trips, it could help reduce the reliance on traditional cars, lower traffic congestion, and contribute to a more environmentally friendly transportation system.
In 2018, shared micromobility trips exceeded those of taxis and ride-hailing services in the US.
The statistic suggests that in 2018, the total number of trips taken using shared micromobility services, such as bike-sharing and scooter-sharing, surpassed the combined trips made using traditional taxis and ride-hailing services in the United States. This indicates a shift in transportation preferences towards more sustainable and cost-effective modes of travel, possibly influenced by factors like urban congestion, environmental consciousness, and technological advancements. The rise of shared micromobility can also reflect changing consumer behavior and demand for more convenient and flexible transportation options, highlighting the potential for these services to play a significant role in shaping future urban mobility landscapes.
By the end of 2018, more than 85,000 e-scooters were available for public use in about 100 US cities.
The statistic indicates that by the end of 2018, the market for electric scooters in the US had experienced significant growth, with over 85,000 e-scooters being available for public use across approximately 100 cities. This suggests a rapid adoption of e-scooters as a popular mode of transportation among urban dwellers, driven by factors such as convenience, sustainability, and advancements in technology. The widespread availability of e-scooters in numerous cities reflects the increasing trend towards alternative forms of transportation and highlights the importance of micro-mobility solutions in addressing urban transportation challenges. The statistic underscores the potential for further expansion and integration of e-scooters into urban transportation systems as cities continue to evolve to meet the needs of their residents in a sustainable and efficient manner.
Worldwide, users took 84 million micro-mobility trips in 2018.
The statistic suggests that in the year 2018, a total of 84 million small trips were taken using micro-mobility services worldwide. These micro-mobility trips typically involve short-distance transportation within urban areas using modes like shared bicycles, electric scooters, or other similar vehicles. The significant number of trips highlights the increasing popularity and utilization of micro-mobility solutions as a convenient and sustainable transportation option. The statistic indicates a growing trend towards using these alternative modes of transportation to address urban mobility challenges, reduce traffic congestion, and lower carbon emissions.
The Asia Pacific accounted for more than 30% share of the total revenue generated in 2020.
The statistic that the Asia Pacific region accounted for over 30% of the total revenue generated in 2020 indicates the significant economic contribution of countries in that region to the overall financial performance during that year. This means that businesses operating in Asia Pacific had a substantial impact on the organization’s revenue, reflecting a strong market presence and consumer demand in that region. It suggests that companies targeting or operating within the Asia Pacific market have the potential for considerable growth and profitability, highlighting the importance of understanding and leveraging opportunities in this dynamic and rapidly expanding region for business success.
Micro-mobility platforms have attracted more than $5.7 billion in investment globally since 2015.
The statistic that micro-mobility platforms have attracted more than $5.7 billion in investment globally since 2015 suggests a significant interest and financial commitment in this emerging industry. Micro-mobility refers to short-distance transportation options like electric scooters and bikes that are often accessed through mobile apps. The substantial investment amount indicates a growing recognition of the potential benefits and market opportunities in this sector, including addressing urban mobility challenges, reducing carbon emissions, and providing convenient transportation alternatives. The influx of funding also underscores investor confidence in the viability and future growth potential of micro-mobility solutions as they continue to reshape the transportation landscape.
Initial data suggest an average of 1.5 rides per day per e-scooter in the US.
The statistic that initial data suggest an average of 1.5 rides per day per e-scooter in the US signifies the average number of rides taken by each individual e-scooter in a day across the United States. This statistic provides insight into the usage patterns of e-scooters in the country, indicating that, on average, each e-scooter is being utilized approximately 1.5 times per day. This information can be valuable for e-scooter rental companies, urban planners, and policymakers in understanding the demand for e-scooter services, optimizing fleet management strategies, and potentially impacting infrastructure planning and regulations related to micro-mobility options. Further analysis and monitoring of this statistic over time could help assess trends and variations in e-scooter usage, contributing to more informed decisions in the realm of urban transportation and mobility solutions.
In Europe, revenue in the Ride-Hailing & Taxi segment is projected to reach US$28,598m in 2021.
The statistic indicates that the revenue in the Ride-Hailing & Taxi segment in Europe is anticipated to amount to US$28,598 million in the year 2021. This figure reflects the total estimated earnings specifically from ride-hailing services and traditional taxi operations within the European market for the given year. This projection suggests a significant and growing market size for transportation services facilitated by ride-hailing platforms and taxi companies in Europe, indicative of the increasing demand for convenient, on-demand transportation solutions in the region.
The most revenue in the micro-mobility market is generated in China.
The statistic claiming that the most revenue in the micro-mobility market is generated in China suggests that China leads the global micro-mobility industry in terms of generating income. This could be attributed to a variety of factors such as the large population and urban density in China, creating a significant market demand for micro-mobility solutions. The statistic also indicates that China has successfully implemented and scaled micro-mobility services like bike-sharing and electric scooters, generating substantial revenue in the process. Additionally, China’s favorable regulatory environment and infrastructure supporting micro-mobility initiatives could contribute to the country’s dominance in revenue generation within this market.
As per BCG research, the estimated size by 2025 for shared micromobility services in the US, EU, and China could reach $200 billion to $300 billion.
The statistic provided by BCG research indicates that the shared micromobility services industry in the United States, European Union, and China is projected to experience significant growth by 2025, with an estimated market size ranging from $200 billion to $300 billion. This implies that the demand for shared modes of transportation such as bike-sharing, scooter-sharing, and other similar services is anticipated to rise substantially in these regions over the coming years. Factors such as increasing urbanization, concerns about environmental sustainability, and advancements in technology are likely driving this growth in the shared micromobility sector, presenting lucrative opportunities for companies operating within this industry to capitalize on the expanding market.
McKinsey estimates that China’s bike-sharing sector alone already has more than 400 million users.
The statistic from McKinsey stating that China’s bike-sharing sector has over 400 million users highlights the tremendous popularity and widespread adoption of this transportation service in the country. This massive user base underscores the significant impact that bike-sharing schemes have had on urban mobility in China, providing a convenient and environmentally friendly mode of transportation for millions of people. The sheer scale of users also points to the potential for further growth and development in the bike-sharing industry, as well as the importance of sustainable transportation solutions in addressing the challenges of urban congestion and pollution in rapidly growing cities.
The e-scooter segment captured the largest market share of above 66.07% in 2020 and is expected to maintain its dominance over the forecast period.
The statistic “The e-scooter segment captured the largest market share of above 66.07% in 2020 and is expected to maintain its dominance over the forecast period” indicates that in 2020, e-scooters had a significant market presence, accounting for more than two-thirds of the total market share. This suggests that e-scooters were the most popular choice among consumers within the industry. Furthermore, the forecast predicts that this trend will continue into the future, with e-scooters maintaining their leading position in the market. This information highlights the strong performance and popularity of e-scooters, emphasizing their continued dominance in the industry over the upcoming period.
McKinsey analysis suggests micro-mobility products can be up to 60 percent cheaper than owning a car for urban ride-sharing consumers.
The statistic from McKinsey analysis indicates that utilizing micro-mobility products, such as electric scooters or bike-sharing services, can potentially offer cost savings of up to 60% for urban ride-sharing consumers compared to owning a car. This suggests that individuals who frequently use ride-sharing services in urban areas could significantly reduce their transportation expenses by incorporating micro-mobility options into their daily commutes or short-distance trips. The cost-effectiveness of micro-mobility products likely stems from their lower operational costs, reduced maintenance expenses, and the ability to avoid parking fees or other car ownership-related expenditures. Overall, this statistic highlights the potential economic benefits and affordability of integrating micro-mobility solutions into the transportation ecosystem for urban consumers.
A study conducted by Populus reveals that at least 70 percent of regular micro-mobility users also make frequent use of other shared mobility modes.
The statistic from the study conducted by Populus indicates that a significant portion, at least 70 percent, of individuals who regularly utilize micro-mobility options also frequently use other shared modes of transportation. This finding suggests a high level of interconnectivity and willingness among users to switch between various shared mobility services based on their needs and preferences. Such behavior highlights the growing trend of multi-modal transportation usage, where individuals are utilizing a combination of different modes of transportation to efficiently navigate their urban environments. Overall, this statistic underscores the importance of understanding and catering to the evolving transportation preferences of users in order to promote sustainable and accessible mobility options in cities.
According to a report by INRIX, more than half of car trips in the United States could be replaced by e-scooter trips as they are under 3 miles.
The statistic provided by INRIX suggests that a significant portion of car trips in the United States, over 50%, could potentially be substituted with e-scooter trips for distances under 3 miles. This implies that there is a substantial opportunity to reduce reliance on cars for short-distance travel by leveraging e-scooters as a viable alternative mode of transportation. By encouraging the use of e-scooters for these short trips, it could lead to numerous benefits such as reducing traffic congestion, lowering carbon emissions, and promoting a more sustainable and efficient transportation system. This statistic highlights the potential for e-scooters to play a significant role in transforming urban mobility patterns and promoting environmentally friendly modes of transportation.
Bird, a prominent micro-mobility startup, achieved a $2 billion valuation in less than a year.
The statistic indicates that Bird, a well-known micro-mobility startup, experienced rapid growth and success, as it attained a valuation of $2 billion within a remarkably short timeframe of less than a year. This achievement signifies that the market and investors have recognized the potential and value proposition of Bird’s business model, likely driven by factors such as increasing demand for sustainable urban transportation solutions and the company’s ability to effectively execute its growth strategies. Achieving such a high valuation in a short period is notable in the startup landscape and highlights Bird’s strong market position and growth prospects within the micro-mobility industry.
As per 2019 estimates by McKinsey, 40 to 60 percent of e-scooters go out of service within a month due to vandalism or theft.
The statistic provided by McKinsey indicates that a significant proportion of e-scooters, ranging from 40 to 60 percent, become inoperative within just one month of being put into service, with vandalism or theft being the primary causes. This statistic highlights a concerning issue in the e-scooter industry, indicating a high rate of damage and loss within a short period of time. The finding suggests that companies operating e-scooter services may face substantial financial losses and operational challenges due to these incidents, necessitating the implementation of robust security measures and preventative strategies to mitigate the risk of vandalism and theft affecting the longevity and profitability of their e-scooter fleets.
Conclusion
Overall, the statistics presented highlight the rapid growth and potential of the micro mobility industry. As more individuals seek convenient and eco-friendly transportation options, businesses in this sector are poised for continued expansion and innovation. By staying informed on key industry trends and data, stakeholders can make informed decisions to drive success in the evolving micro mobility landscape.
References
0. – https://www.www.statista.com
1. – https://www.www.bcg.com
2. – https://www.inrix.com
3. – https://www.www.alliedmarketresearch.com
4. – https://www.techcrunch.com
5. – https://www.www.deloitte.com
6. – https://www.www.researchandmarkets.com
7. – https://www.www.mckinsey.com
8. – https://www.populus.ai
9. – https://www.www.globenewswire.com
10. – https://www.www.forbes.com
