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.
