Report: 50 million micromobility vehicles by 2025
Researchers are bullish on micromobility, predicting that there could be as many as 50 million vehicles worldwide by 2025.
The prediction comes from a new research report from ABI Research titled “Smart Bikes, Scooters, and Pedelecs: Expansion of Two Wheel Shared Transportation Market.” The report analyzes how the micromobility market is expanding, particularly because start-ups are entering China.
Micromobility usage during the initial stages of the COVID-19 pandemic plummeted as lockdowns kept people at home and not traveling. However, the industry has started to bounce back, and people expect riders will return and use e-bikes and e-scooters for commuting as they return to the office.
Mass transit ridership has fallen since the beginnings of the pandemic. Riders are not returning in large numbers. However, some businesses are having people return to the office. While it’s expected people will drive cars, micromobility is seen as another mode of transportation commuters will trust, particularly in urban areas when people live near work.
Riders have to want to use micromobility vehicles for the industry to grow. But companies can also help by providing commuters with as many options to get to work as possible. For example, companies can purchase prepaid cards that allow employees to rent an e-bike or e-scooter. Subsidizing trips helps relieve the financial burden on employees and gives them a vehicle they trust.
Micromobility prepaid cards are one way to help commuters. Businesses can also allow employees to save money tax-free in their paychecks to use for mass transit, qualified parking and rideshares with commuter benefits. The maximum amount set aside each month is $270. Businesses save because payroll taxes decrease. Businesses save $40 for each employee per month who participates in the commuter benefits program.
If you’re thinking of bringing employees back to the office and want to learn about all the commuting options available to them, you can visit our website at www.commuterbenefits.com to learn more about what we do to help you.