What Makes Kick Scooter Sharing Service an Ideal Option for Tourists?

The adoption of ride sharing services has risen significantly in the past few years. As people across the globe are becoming more reluctant to buy private vehicles, owing to their high maintenance cost and negative effects on the environment, the demand for public mobility services has been rising. Mobility services, such as ride hailing and car sharing, provide customers with convenient mobility services at low prices. These services, however, have not been able to solve the problem of first and last mile connectivity. 

Attributed to this, the global kick scooter sharing market is expected to advance at a significant pace during the forecast period. Kick scooter sharing services aids in covering the gap of first and last mile by offering mobility services for shorter distances, less than 5 km per trip. These mobility solutions further provide convenience to consumers by offering station-less or dock-less model, thereby allowing users to drop the vehicles at any place.

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The kick scooter sharing market valued $143.4 million in 2018, and it is set to garner revenue of $4,090.5 million by 2025, progressing at a 51.3% CAGR during the forecast period (2019–2025). When model is taken into account, the market is bifurcated into first- and last-mile and multimodal models. Between the two, the first and last-mile division held the larger share of the market during the historical period (2017–2018). 

Geographically, North America held the largest kick scooter sharing market share in 2018. After the introduction of these services in the region in the latter half of 2017, companies started to penetrate the regional domain highly. The result of this was the availability of about 85,000 kick scooters by the end of 2018 in the region. Europe is predicted to advance at the fastest pace during the forecast period, owing to the swift entry of major players.

In conclusion, the market is growing due to the need for convenient first and last-mile commuting and rising adoption of kick scooter among the younger generation.

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Kick Scooter Sharing Market is Reaching New Heights

The increasing demand for a fun first- and last-mile commuting option and rising urban road congestion are driving the progress of the kick scooter sharing market across the world. In 2018, such services generated $143.4 million in revenue, which is projected to grow to $4,090.5 million in 2025, at a 51.3% CAGR during the forecast period (2019–2025). Kick scooters are those on which people stand during their journey, and most such vehicles use an electric motor.

On the basis of model, the kick scooter sharing market is bifurcated into multimodal and first- and last-mile. Of these, the first- and last-mile model dominated the market in 2018, as the shared mobility services offered via cars are slightly expensive for short distances; 8 km (5.1 miles) is the average distance for which such services are availed. Further, traffic congestion, parking problems, and air pollution result from the use of cars for short-distance traveling. Therefore, kick scooters not only offer cheap commute, but also help in reducing carbon emissions.

Another reason behind the growing popularity of the concept is that many service providers offer such vehicles via the dockless model, wherein they can be picked up and parked anywhere. This saves time, as people do not need to move around to locate the docking stations. Along with convenience, shared kick scooters are also being adopted for their fun and recreational quotient, and it has been observed that most of the people opting for such services are youths, between the ages of 20 and 35.

The increasing problem of urban road congestion is another significant kick scooter sharing market growth driver. Cars and buses already take up a lot of space on the roads, and their numbers are rising day by day. This is resulting in traffic jams, and almost no space left for pedestrians, in certain places. To make the situation better, the government of numerous countries are promoting kick scooters, as they require significantly less space to travel and park, the latter of which also offers advantages for micromobility firms.

A lucrative opportunity for the kick scooter sharing market lies in the integration of such services with other mobility modes. Several market players, including Lime, Jump, Scoot, and Mobycy, are getting involved in bike sharing, to maximize their revenue and give people more than just one option of traveling short distances. Similarly, Movo and Blinkee also offer scooters, along with kick scooters, for sharing. With more companies adopting such a model, the market is expected to grow further in the coming years.

Across the globe, North America dominated the kick scooter sharing market in 2018, and it is expected to continue on this path throughout the forecast period. This is attributed to the rapid popularity of such services here and the fact that these services were introduced in this region before anywhere else. As the concept has proven useful in solving the first- and last-mile travel problem, it is finding more users in North America.

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During the forecast period, the market is predicted to display the fastest growth in Europe. The rapid popularity of such services in North America are helping in their swift adoption in Europe, and companies which have been successful in the former region are entering the latter. Thus, the advent of established shared kick scooter providers, coupled with the inflow of heavy investments, is helping the European market progress. Spain, Belgium, France, Austria, and Switzerland are leading the way in shared kick scooter usage in the continent.

Therefore, as such vehicles offer cost-effective short-distance commuting solutions and also check air pollution, their usage is increasing.

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Kick Scooter Sharing Market to Attain $4,090.5 Million in 2025

The primary consumer base for kick scooter sharing services are the people between the ages of 20 and 35 years, or millennials. The preference of millennials has been quite different from the conventional methods, which is why their inclination towards shared mobility, kick scooter sharing included, is increasing. Rather than buying their own vehicles, people have started opting for shared mobility services for convenience and cost-effectiveness. Kick scooter sharing in particular has become a fun and recreational traveling option for millennials. Apart from this, this concept is also gaining popularity among tourists for exploration and sightseeing purposes. It is due to all these factors that the demand for kick scooter sharing services is growing.

Kick scooters sharing services refer to the utilization of kick scooters for covering short distances, generally 5 km or less. In 2018, the global kick scooter sharing market generated a revenue of $143.4 million and is expected to reach a value of $4,090.5 million in 2025, advancing at a 51.3% during the forecast period (2019–2025). The two models of kick scooter sharing services are multimodal and first and last-mile. Out of these, the first and last-time services were more in demand in 2018 and are the situation is projected to remain the same in the coming years as well.

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Among all the regions, namely Europe, Latin America, Middle East and Africa (LAMEA), North America, and Asia-Pacific (APAC), the largest demand for kick scooter sharing services was created by North America in 2018. The reason for this was the presence of major players and the rapid adoption of these services in this region. Kick scooter sharing services were introduced in North America in 2017 for dealing with the first and last-mile commuting problem. The fastest growth in demand for kick scooter sharing services is expected to be witnessed by Europe during the forecast period.

The emergence of kick scooter sharing services has further provided people with an effective solution to deal with the rapidly increasing road congestion in urban areas. The growing population, increased affordability of vehicles, and rising migration rate from rural to urban areas has led to a surging number of vehicles on the roads. Roads in urban areas are increasingly congested during the peak hours, which is why the inclination towards introducing alternative modes of mobility is rising. By making use of kick scooters, commuters can travel to their destination without too much hassle. Furthermore, these services can significantly reduce the traffic on roads as they take up less space.    

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