Bike Sharing Services Market to Grow Over 10.2% through 2025
With urbanization, the demand for daily commuting is also growing. People need an efficient transportation mode to travel from their homes to an intermediate point, such as a bus stop or metro station, and then from that intermediate point to work, college or any other destination. Additionally, a large number of people also travel directly between their home and destination, without using intermediary modes of transport. Hiring a cab or using other public transit services can be slightly expensive and not always reliable, in terms of efficiency, which is why the demand for micromobility services, including bike (bicycle) sharing, is rising. From $2.7 billion in 2018, the bike sharing services market is expected to grow to $5.0 billion by 2025, at a 10.2% CAGR during 2019–2025 (forecast period). Dock-less and station-based are the two types of bike sharing services available across the world, of which dock-less services were more popular in 2017–2018. This is because dock-less bike...