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Smart Lighting Market to witness major growth in coming years

Author : Ronak Bora | Published Date : 2020-08-20 

The proliferation in the smart city development in Asia Pacific and the MEA is expected to drive the bike sharing market growth over the forecast timeline. The increase in incidents of dockless bike theft & vandalism is hampering the industry. The technological advancements in navigation & GPS technology are aiding service providers to track the exact location of bikes, eliminating the chances of bike thefts. The lack of awareness about bike-sharing in rural areas will restrict their use, limiting industry expansion.

The demand for free-floating bikes is increasing across the globe due to their benefits such as maximum accessibility and enhanced convenience. Commuters are allowed to park their bikes at any location. Companies are focusing on delivering more dockless bike-sharing services, to expand the customer base. For instance, in April 2018, a Brazilian start-up company, Yellow, announced the deployment of over 20,000 dockless bikes in the market. Players are incorporating advanced GPS technologies to increase the security of free-floating bikes. The technology provides alerts to local security teams when bikes are moved without being unlocked.

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?Rising environmental concerns along with the implementation of government regulation will outline bike sharing market trends over the forecast period. Rapid modernization and urbanization has caused major traffic problems that has been associated with safety risks, air pollution, economic competitiveness, loss in relation with accessibility and sustainable growth.Bike sharing schemes offer transport flexibility, reduced congestion as well as fuel congestion and reduction in harmful emissions.

Increasing health consciousness among people owing to the rise in health conditions as a result of living a sedentary lifestyle will contribute towards expanding bike sharing market share. Bikes play a major role in leading a healthy lifestyle and exhibit some key health benefits. The benefits of biking comprises flexible joints, stronger bones, lower body fat levels, improved cardiovascular fitness as well as reduced anxiety and stress levels.

Rapid advancements in technology has led service providers to install appropriate navigations systems in bicycles which helps people find their destination. The convenience delivered by the improving technology will foster bike sharing market size. Copenhagen had launched an efficient and innovative bike sharing program a few years ago that was offering GPS-enabled Android tablets with the bikes.

The Ministry of Transport says that China has nearly 70 companies that have deployed over 23 million bicycles nationwide and have attracted more than 400 million users. With a revenue of $35 billion, this industry has helped create over 390,000 jobs. It has also been estimated that dockless bike sharing in China has helped reduce 400 million hours of time spent in the traffic. This has established a low-carbon network for transport and lessened the pressure for urban transport.

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Major companies underscoring global bike sharing market forecast including Neutron Holdings Inc., Tembici, Divvy Bikes, Capital Bikeshare, Lime, Youon Bikes and Mobike. The players have consistently involved in gathering investments and collaborating with firms and governments for the expansion of their business.

Table of Contents (ToC) of the report:

Chapter 4. Bike Sharing Market, By Type

4.1. Key trends by type

4.2. Conventional bikes

4.2.1. Market estimates and forecast, 2015 – 2025

4.3. E-bikes

4.3.1. Market estimates and forecast, 2015 – 2025

Chapter 5. Bike Sharing Market, By Model

5.1. Key trends by model

5.2. Station-based

5.2.1. Market estimates and forecast, 2015 – 2025

5.3. Free floating

5.3.1. Market estimates and forecast, 2015 – 2025

5.4. P2P

5.4.1. Market estimates and forecast, 2015 – 2025

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/bike-sharing-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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