Aug 26, 2024   SOURCE: PR NewsWire

Bike and Scooter Sharing Telematics Market to Reach $8.1 Billion, Globally, by 2033 at 7.9% CAGR: Allied Market Research

Increasing urban population and growing environmental concerns are the two primary factors driving the growth of global bike and scooter sharing telematics market.

WILMINGTON, Del., Aug. 26, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Bike and Scooter Sharing Telematics Market by Service Type (Pay-as-you-go and Subscription pay-as-you-go), Operational Model (Dockless and Station-Based), Propulsion (Pedal, Electric and Gasoline) and Vehicle Type (Bike, Scooter and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the bike and scooter sharing telematics market was valued at $3.8 billion in 2023, and is estimated to reach $8.1 billion by 2033, growing at a CAGR of 7.9% from 2024 to 2033.

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Prime determinants of growth

Increasing urban population and growing environmental concerns are the two primary factors driving the growth of global bike and scooter sharing telematics market. Furthermore, regulatory and operational challenge is the main factor restraining the growth of global bike and scooter sharing telematics market. Moreover, market expansion and innovation in technology are the two significant opportunities that can enhance the growth of global bike and scooter sharing telematics market in the future.

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Report coverage & details: 


                 Report Coverage       
     
              Details



     Forecast Period                  
     2024-2033



     Base Year                                                                               2023


      Market Size in 2023                                                    
            $3.8 billion


      Market Size in 2033                                                    
            $8.1 billion



     CAGR                                                                                   7.9 %


      No. of Pages in Report                                                                   250



     Segments Covered                   Service Type, Vehicle Type, Propulsion, Operational Model
                                          and Region.



     Drivers                          
     Increase in urban population



     Growth in environmental concerns



     Opportunities                    
     Market expansion



     Innovation in technology



     Restraint                        
     Regulatory and operational challenge

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Segment Highlights

Based on service type, the subscription-based model dominated the market in 2023 as it provides users with unlimited access for a fixed fee, which appeals to frequent users or those who prefer a more predictable billing structure. Meanwhile, the pay as you go application is expected to grow at a significant rate in the market as it offers flexibility and is popular among occasional users who prefer to pay only for the time they use the service.

Based on the operational model, the dockless segment dominated the market in 2023, as dockless systems provide users with the flexibility to pick up and drop off bikes or scooters virtually anywhere within a designated area, rather than having to find a specific docking station. This convenience has made them more popular in urban environments where users value rapid and easy access. Meanwhile, station-based service is expected to grow at a significant rate in the market. This is because station-based systems provide a more organized framework for bike and scooter sharing.

Based on propulsion, the electric segment dominated the market in 2023. Electric bikes (e-bikes) and electric scooters (e-scooters) are more attractive to users because they require less physical effort compared to pedal bikes. This makes them appealing for longer distances, hilly terrains, and for a broader demographic, including those who may not be as physically fit. Meanwhile, the traditional pedal-powered bike-sharing segment is expected to grow at a significant rate in the market. This is because people are increasingly becoming conscious of their fitness and health. Running a pedal cycle daily improves the stamina of the human body and keeps human fitness up to the mark.

Based on vehicle type, scooters dominated the bike and scooter sharing telematics market in 2023, this is due to more units of scooter and electric advanced scooters being produced in the market. Meanwhile, the bike segment is expected to grow at a significant rate in the market, this is due to the new bike technology being introduced in the market.

Regional Outlook

Based on region, the Asia-Pacific region dominated the bike and scooter sharing telematics market in 2023, as Asia-Pacific has some of the largest and most densely populated cities in the world. Rapid urbanization and the need for efficient, sustainable urban mobility solutions drive high demand for bike and scooter-sharing services in the region. Meanwhile, North America is expected to grow at an increasing rate in the bike and scooter-sharing telematics market due to latest technologies arriving in the region.

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Players: - 

    --  Beam Mobility Holdings Pte. Ltd.
    --  Bolt Technology Ou
    --  Dott
    --  Helbiz
    --  DSV
    --  Lime
    --  Lyft, Inc.
    --  Marti Technologies, Inc.
    --  Neuron Mobility
    --  Ridemovi S.p.A.
    --  The Swing Corporation
    --  Tier
    --  Yulu Bikes Pvt. Ltd.
    --  Anywheel Pte. Ltd.
    --  Blinkee.city
    --  Bixi Montreal
    --  Bird Rider, Inc.
    --  Uber Technologies, Inc.
    --  Cooltra
    --  Bixi Montreal
    --  Blue Bikes
    --  Didi Chuxing Technology Co. Ltd.
    --  Docomo Bike Share, Inc.
    --  Donkey Republic
    --  The Forest Company
    --  Freebike
    --  Hello Cycling
    --  Hellobike
    --  JCDecaux
    --  Mevo, Inc.
    --  MYBYK
    --  Nextbike GmBH
    --  BinBin
    --  Poppy
    --  Hop Electric Mobility
    --  Voi Technology AB
    --  Zoomo
    --  Splinster
    --  YEGO Urban Mobility SL
    --  Spin
    --  Emmy Sharing
    --  Jump, Inc.
    --  Cityscoot

The report provides a detailed analysis of these key players in the global bike and scooter-sharing telematics market. These players have adopted different strategies such as new product launch, partnership and funding to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Recent Developments: 

    --  In July 2022, Lime Company launched a computer vision platform that is
        designed to power Lime's safety innovations, initiating with advanced
        sidewalk detection that helps in reducing pavement riding in its
        scooters.
    --  In June 2021, Cooltra launched electric-scooter sharing service in
        Paris. By September 2021, the business hoped to have 2, 000 scooters in
        service around Paris.
    --  In February 2024, Yulu Bike company, a leading shared mobility services
        provider obtained $19.25 million in case of funding by existing
        investors Magna and Baja Auto. This capital will support the objectives
        of Yulu for the development of latest products, technologies and will
        also help in Yulu's service offerings. In addition, Yulu is planning to
        utilize its capital to enhance its electric vehicle fleet, and improve
        operational efficiency and scale up the presence in the existing and
        latest markets.
    --  In September 2021, HellBiz Inc., partnered with Drover AI to integrate
        Drover AI's pathpilot safety technology into HellBiz e-scooters. Hellbiz
        will act as exclusive operator of Pathpilot in Italy, with the first
        deployment in Milan. PathPilot technology uses artificial intelligence
        and computer vision to locate e-scooter's surroundings, reducing clutter
        and ADA ramp blocking. It verifies parking and automatically reduces
        speed in geofenced areas, ensuring safety for riders and pedestrians.
        This advanced technology enhances geo-fencing capabilities in dense
        urban cities.
    --  In May 2023, Uber Technologies, Inc. entered into a multi-year strategic
        partnership with Waymo. This aim of the partnership was to align Uber's
        strategy to enhance its telematics and mobility solutions, providing
        users with more seamless and efficient transportation options.
    --  In October 2021, Dott launched, a new e-bike in Paris. The new e-bikes
        are integrated into the fleet management system of Dott allowing
        seamless operations and maintenance. The fleet management system
        includes advanced telematics, which ensures efficient operations through
        in-house repairs, maintenance, and logistics.
    --  In June 2021, Bird Rider Inc., introduced a smart bikeshare platform and
        shared e-bikes, offering eco-friendly transportation options with
        high-powered motors, IoT capabilities, and robust designs for enhanced
        safety and durability.
    --  In July 2020, Uber Technologies Inc. launched first electric scooter
        "Jump" in Santa Monica. The dockless gadget is remarkable since it does
        not require specific docks to be parked, and users may rapidly switch
        scooters if they come across another one while walking to the one they
        reserved.
    --  In August 2023, Lyft Media launched in-app advertising across the Lyft
        application, expand tablets, rooftop and bikeshare stations, thus giving
        brands the chance to connect with riders.

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