The future of micromobility looked cloudy during the early stages of the pandemic. Like many industries, businesses dried up during the lockdowns. With no one going to work, no one was renting e-scooters or e-bikes. But things are changing for the micromobility industry.
A market research firm says the industry will be worth $255 billion by 2027, up from $35 billion in 2020. Ridership numbers are increasing. McKinsey & Company reported that the market could grow to between $300 billion and $500 billion by 2030. It would be three or four times what the ride-hailing market is now to put that into perspective.
The evolution of micromobility
Here are some potential trends for future micromobility services.
1 – Fleet services
As the micromobility market grows, so does the need for platforms and services that help with the operations of a company fleet. A common example is the makers of battery swap devices that make it easy to change a battery.
2 – Regional & local platforms
More companies will try and enter local markets in the future. That could present an opportunity for micromobility operators who only focus on local and regional areas. Local companies could use their knowledge of the area to their advantage and possibly create profitable businesses that could be operated or sold to a large company.
3 – Personal electric vehicles and innovation
The third area for growth is the vehicles themselves. It’s expected that there will be improvements in safety and technology. It will be interesting to see if more people start to buy personal vehicles, particularly if there is significant innovation in e-bikes, e-scooters, and more. But one thing micromobility companies must provide is trust regarding their platforms. Vehicles must be cleaned and sanitized as people worry about COVID-19.
Micromobility is poised to be a popular commuting option for employees as they head back to the office and have reservations about other forms of public transit. Businesses can offer micromobility benefits to employees through our prepaid card programs that are used for renting vehicles. We also offer exclusive deals and discounts with vendors.
If you’re thinking about offering micromobility to your employees, let’s chat. Schedule a meeting with us so you can learn more about what we can offer to you.