Despite the shared mobility industry’s 30% drop in gross bookings in 2020 due to the COVID-19 pandemic, it is expected to rebound, doubling its market size over 2020-2025 in real terms. Some of the key future trends in the industry include the resurgence of micro-mobility, increasing electrification of vehicle fleets and rising investment in electric bicycles. This briefing includes profiles of 24 leading companies, such as Uber, Bolt, Lyft, Lime, Didi Chuxing, Grab and GoRide.
This report comes in PPT.
The shared mobility industry recorded a 30% drop in gross bookings in 2020, as the COVID-19 pandemic hit. Lockdowns and stay at home measures forced consumers to significantly reduce demand for transport, which consequently hurt the revenue streams of shared mobility operators. However, the shared mobility industry will recover, returning to pre-pandemic levels by 2022.
Micro-mobility has seen a renaissance, as more people swapped crowded public transport for open air and individual transport. Some cities opened up the streets to cyclists and other micro-mobility modes to provide easier movement, whilst maintaining social distancing.
The future of shared mobility will be electric. Several ride hailing giants have already stepped up to ensure all journeys are electric in the future. This forms part of the global sustainability shift to reduce dependence on fossil fuels and adhere to increasing government calls for carbon neutrality.
Shared electric bicycles will be a growing future trend in the micro-mobility space due to their practicality in urban settings. Several firms, such as Lime and Joco, have already made large investments in expanding their e-bike fleets, and more companies are expected to follow suit in the future.
New business models in the shared mobility industry will help to deliver novel revenue streams. Production of purpose-built vehicles, vehicles-as-a-service delivery models and mobility diversification will all create new possibilities for the growing industry.
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