Micro-Mobility Market Size

Micro-mobility Market Size

Micro-Mobility Market size was valued at USD 66.4 billion in 2022 and is anticipated to register a CAGR of over 13% between 2023 and 2032. Increasing technological advancements in North America are poised to drive market growth by introducing cutting-edge features & capabilities in e-scooters, e-bikes, and other micro-mobility solutions. Advanced technologies, such as IoT connectivity, GPS navigation & improved battery management systems, enhance user convenience, safety, and operational efficiency.

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Additionally, these innovations attract tech-savvy users and foster the development of more reliable, efficient & sustainable micro-mobility systems, making them an attractive choice for urban transportation in North America. For instance, in June 2023, Micromobility.com Inc., based in the U.S., launched Wheels 2.0 App. The app emphasizes long-term private rentals and business leasing and was initially active in various North American cities. To streamline its services, shared Wheels units will be exclusively accessible through the Helbiz application.

The micro-mobility market is witnessing significant growth due to the increasing consumer demand for convenient, on-demand transportation solutions. Modern consumers, especially those living in urban areas, seek transportation options that are readily available, easy to access through smartphone apps, and adaptable to short-distance travel needs. Micro-mobility solutions, such as e-scooters and e-bikes, provide an efficient & affordable means of navigating congested city streets and addressing the last-mile challenge. This demand reflects a shift toward flexible & sustainable mobility solutions that align with urban lifestyles and environmental consciousness, fueling the market expansion.

Safety concerns in the micro-mobility market revolve around the increasing number of accidents and injuries involving e-scooters & e-bikes. Electric vehicles are popular among users due to their convenience, but they also pose risks, especially in urban environments with mixed traffic. Enforcing safety measures, such as helmet use, proves challenging due to the nature of short trips and the need for easily accessible shared vehicles. Balancing convenience with safety remains a crucial challenge for operators and cities seeking to promote responsible micro-mobility usage.