Micro Mobility Market Size, Share, Growth Analysis, By Battery Type(Lithium-ion, Lithium-ion polymer, Lead acid, Others), By Voltage(Below 24V, 36V, 48V, Greater than 48V), By Speed(Up To 25 kmph, 25-45 kmph, Greater than 45 kmph), By Propulsion(Human Powered, Electrically Powered), By Type(Bicycles, E-bikes, E-kick scooters, Others), By Sharing Type(Docked, Dock-less), By Data Service(Navigation, Payment, Others), By Travel Range(Up to 3 Miles, 3-6 Miles, Greater than 6 miles), By Ownership(Business-to-Business, Business-to-Consumer), By Region - Industry Forecast 2024-2031

Micro Mobility Market Drivers

Technological Advancement to Create Lucrative Growth Opportunities

• The micro-mobility market is expanding, but so has the demand for electric scooters. According to a different source, e-bike sales are expected to increase by around 245 percent in a year in 2021. In a similar vein, it is anticipated that the market economy for renting bikes and scooters will grow to 11,040 million USD by 2028. The market for micro mobility is expected to expand further, according to numerous experts. The majority of experts anticipate that the micro-mobility market will continue to expand. These projections take into account a lot of different things, like the fact that people who live in areas with a lot of people need easy, cheap ways to get around. In addition, the demand for low-cost and micro-mobility travel options is being driven by the resurgence of global tourism following the pandemic. As cities continue to implement micro-mobility solutions, IoT devices, asset management platforms, and green technologies like the solar charging infrastructure appear to be in high demand. Micro-mobility services will likely be available in all major global cities in the coming years.

Micro Mobility Market Restraints

Lack of Access and Theft to Hinder Market Growth

• The growth of the global market for micro-mobility is hampered by an increase in bike theft and damage and a low internet penetration rate in developing nations.