pramodkmr's blog

The micromobility telematics market is experiencing significant growth, and it will further advance at a 26.7% compound annual growth rate, to reach USD 13,010.4 million, by 2030.

The advancement in this industry is primarily because of the massive acceptance of micromobility across the globe, which is boosting the requirement for these systems. Moreover, due to the quick addition of locking mechanisms, network services, fleet optimization, and smartphone connectivity into such services, the industry is likely to propel rapidly.

Micromobility services play an important role in connecting the gap in transportation of first- and last-mile, by providing mobility possibilities for shorter distances, which is also a major factor in boosting the industry growth. These services are generally utilized to cover a distance of less than 3.1 miles in one trip.

Additionally, these services are typically provided through the station-less or dock-less model, which enables consumers to leave the vehicle at any place as per their suitability.

In the past few years, the bike sharing category, based on service type, accounted for the dominating share of the industry. This is because of the increasing consciousness regarding the environment. Furthermore, the surging requirement for solutions for first-and last-mile mobility has been boosting the acceptance of bike sharing services.

The software category, based on offering, will observe the fastest micromobility telematics market growth in the years to come. This is because of the increasing acceptance of micromobility, which results in more-advanced software being developed by the major industry players.

In recent years, APAC accounted for the largest share of the industry. This can be because of the high funding and establishment of technology start-ups in the region. Moreover, the industry players are concentrating on offering low-cost micromobility services.

Furthermore, the shifting preference of consumers for daily city travel is boosting the requirement for connected vehicle technologies, safety features in vehicles, and fleet telematics which will further boost the advancement of the regional industry.

With the surging requirement for micromobility sharing services, as well as the increasing funding in micromobility, the micromobility telematics industry will continue to advance in the years to come.