Opportunity Assessment of Shared Mobility
Shared mobility alludes to the shared utilized of a vehicle, bike, or other transportation mode. It is a transportation procedure that enables clients to get to transportation benefits on an as-required premise. Shared mobility is an umbrella term that incorporates a kind of transportation modes including carsharing, bikesharing ,peer-to-peer ridesharing, on-demand ride services, microtransit, and other modes.
Car Sharing
Carsharing services are extremely useful for the general public, especially for daily commuters, as without owning and maintaining cars, they can reach their destination. For users, these services are available day and night throughout the year, allowing them to use a car from anywhere, anytime. Besides, with the help of the carsharing company’s mobile app, commuters can directly avail the services and easily rent the car of their choice.
The apps offer the necessary details and every assistance to users, so that they have a good commuting experience. Hence, mobile apps, providing easy access to cars as well as all the information related to the service, are taking the carsharing market ahead.
Micromobility
The recent trend in the micromobility market has been the inflow of heavy investments directed toward its development. Major players, along with the numerous start-up companies prevailing in the market, are receiving hefty investments from several venture capitalists. For instance, in 2018, European investors — Index Ventures and Atomico — massively invested in two of the top U.S. micromobility companies, namely Bird Rides Inc. and Neutron Holdings Inc. (Lime), respectively. Index Ventures headed Bird’s Series B round with an investment of $100 million, whereas Atomico did not disclose the amount invested in Lime.
Ride-Hailing Services
Increasing Adoption of Electric Vehicles in Public Fleets is a Key Trend Observed in the Ride-Hailing Market
Growing adoption of electric vehicles in public fleets is a rising trend in the ride-hailing market. Governments of several countries are taking initiatives to introduce different policies and regulations, in order to encourage deployment of these vehicles in companies’ fleet. Different companies are also taking initiatives in the introduction of electric vehicle fleets for their ride-hailing services. For instance, in June 2019, Beijing Xiaoju Technology Co. Ltd. (Didi Chuxing) announced partnership with China Southern Power Grid (CSPG) and the government of Hainan Province. The collaboration intends to provide exhaustive electric vehicle service solutions, including the expansion of electric vehicle charging infrastructure and leasing and selling operations in Hainan, China.
Bike Sharing
Urban Road Congestion is Leading to the Growth of the Market
The increasing road congestion in urban areas is leading to growth in the bike sharing market. The rising population in cities is leading to an increasing number of daily commuters, thus creating significant road congestion, especially in the peak hours. Several countries are looking to introduce alternative modes of transport, in order to combat this problem. The introduction of bike sharing services in various cities has proved successful in reducing the traffic on roads significantly, as bikes need lesser traveling area and smaller parking space, thereby making enough space available for commuters using public transport services.
Scooter Sharing
Increasing investment is a key trend being observed in the scooter sharing market. The industry is receiving investments of substantial amounts from top investors in the world. For instance, in 2018, Cityscoot, one of the leading scooter sharing service providers in Europe, received an investment of $50 million (EUR 42.4 million) from a group of investors led by Inventure Partners and RATP Capital Innovation. In the same year, Barcelona-based electric scooter sharing company, Yugo, raised a funding of $475 thousand (EUR 402 thousand). Moreover, in 2017, Gogoro, a Taiwan-based electric scooter manufacturing company, raised a funding of $300 million to invest in its scooter sharing service, GoShare.
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