The Future of the Microbility Market

Aug 13, 2021 09:31 AM EDT | Ernest Hamilton

The Future of the Microbility Market


(Photo : The Future of the Microbility Market)

When it comes to micromobility, trends tend to emerge as fast as technology. To get a handle on the state of the market, one must first understand the contributing factors. There's a steadily increasing demand for affordable connectivity down to the mile. Star Automotive & Mobility experts predict that the micromobility market value will likely increase by the millions within the next decade. How did Star land on such a projection? They analyzed top last-mile companies across varying continents, monitored their efforts to keep customers engaged, then noted their differences. Thus, we have an idea of where market trends are heading.

The Big Contributors

Convenience

Micromobility trends are directly impacted by new-age transportation options such as electric scooters, mopeds, and e-bikes. These types of transportation modes are booming in urban areas for their cost-effectiveness and convenience. Plus, these transports are marketed as more eco-friendly options than other travel methods, such as Uber or Lyft. 

Government Funding

According to research noted by Star, it appears that the micromobility market is likely to reach into the billions fairly soon. Part of the reason for this is government support. The rise of urbanization and digitalization are calling for an increase in micromobility solutions. 

The result? Many cities find themselves investing in differing transport options that can assist their residents with such initiatives. Cities like Paris, Barcelona, Rome, and Lisbon have taken the liberty of developing additional cycling lanes. Cities like Santa Monica, California, also cater the main streets to cyclists, with entire streets dedicated to micromobility transports.

Micromobility Market Benefits

Engineers are always trying to generate solutions to modern transport problems. One of the biggest ones that appeared while Star researched current market trends was range anxiety. This phenomenon occurs when a user is worried their e-scooter will die out before they reach their destination.

To battle this challenge, companies like TIER Mobility set up elaborate charging networks across cities. There are creative solutions such as battery swapping stations, charging areas, and more. That's just one micromobility provider. 

Modern Problems Call For Modern Solutions

Safety is another obvious concern that impacts market growth. However, micromobility designers thought of something to improve safety concerns positively, too. Technology calls for more technology. In order to keep streets and sidewalks safe, micromobility companies are utilizing everything from artificial intelligence to cameras to verify user identities, as well as whether or not a scooter is lying in the street. 

Companies such as Bird and Lime operate in urban areas such as Venice, CA. These companies pay users to collect all of the scooters in the city and bring them to charging stations, providing an incentive for safety. It's not the first time that the micromobility industry has put the responsibility of safety on the users. 

One of the key trends that Star found in reference to the micromobility sector was the use of online safety courses. Millions of users have attended online traffic schools, with incentives from large entities like TIER. Lime worked directly with the Motorcycle Safety Foundation to ensure their online safety course was viable, engaging, and accessible.

The Ultimate Key to Success

A holistic approach to micromobility will ensure that trends continue to move upward. Consumers want to know that their needs are met, their anxieties are being calmed, and ultimately, that they're getting from A to B on time. As long as companies take the time to anticipate user experiences, preferences, and safety needs, the journey will continue to prosper. The results will ensure that city streets might look significantly different in the coming decades.

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