Micromobility Telematics Market Will Reach USD 13,010.4 Million by 2030

The global micromobility telematics market is projected to be worth USD 13,010.4 million by 2030, growing at a CAGR of 26.7%, according to P&S Intelligence. This growth can be credited to the massive acceptance of micromobility on the worldwide level, which is boosting the requirement for such systems. 

With the quick addition of network services, smartphone connectivity, locking mechanisms, and fleet optimization into these services, the industry is projected to advance swiftly.

In the past few years, on the basis of service type, the bike-sharing category led the micromobility telematics market, credited to the rising knowledge regarding environmental problems. Furthermore, the increasing demand for first- and last-mile mobility solutions has been boosting the popularity of bike-sharing services, ultimately, the growing popularity of telematics solutions.

With the growth in the popularity of micromobility, more-smart software is being advanced by industry players. Therefore, the software category under the offering segment is projected to experience the fastest development in the industry in the coming few years. Furthermore, the software primarily comprises device drivers, operating systems, application programming interfaces, and voice recognition capabilities for offering mapping, connectivity, and security and safety solutions.

In recent years, APAC dominated the micromobility telematics market. In APAC, the high expenditure and formation of technology start-ups are contributing to the development of the industry. The players are concentrating on offering low-priced micromobility facilities to advance the first-mover benefits.

Furthermore, the altering client preference with regard to the everyday city commute is boosting the requirement for fleet telematics, safety features in vehicles, and connected vehicle technologies, which is projected to drive the regional industry in the coming years.

The recent trend observed in the micromobility telematics market has been the arrival of huge investments. The key players, along with many start-up businesses in the market, are getting investments from numerous venture capitalists.

For example, to date, VULOG SA has attained a total investment of USD 31 million, of which the last round of capital, was USD 20 million, The business’s key investors include Ecotechnologies Fund, Frog Capital, Bpifrance, and Inven Capital. Such investments are being utilized by the companies to enlarge their existence throughout the globe and upgrade their item and service offerings.

Micromobility facilities play an important role in linking the gap in first- and last-mile transport, by providing mobility choices for shorter distances, which is a main boosting factor for the development of the industry. such facilities are typically utilized to cover a distance of below 5 km (3.1 miles) per trip.

Hence, massive acceptance of micromobility on the worldwide level is boosting the requirement for micromobility telematics market.