Tuesday, August 7, 2018
Bike-sharing Services Market forecast to 2025 detailed in new research report
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According to a new market research report
published by Credence Research, “Bike-sharing
Services Market (By Bike Type (Bicycles & E-bikes), By Model
(Station-based & Dockless), By Geography (North America, Europe, Asia
Pacific, and Rest of the World)) - Growth, Future Prospects, and Competitive
Landscape, 2018 -2026”, the global bike-sharing services market expected to
expand at a CAGR of 12.5% during the forecast period from 2018 to 2026.
Browse the full Bike-sharing Services
Market (By Bike Type (Bicycles & E-bikes), By Model (Station-based
& Dockless), By Geography (North America, Europe, Asia Pacific, and Rest of
the World)) - Growth, Future Prospects, and Competitive Landscape, 2018 -2026
report at http://www.credenceresearch.com/report/bike-sharing-services-market
Market Insights
Investments made by the governments worldwide
in developing reliable bike-sharing infrastructure and encouraging concepts
like smart cities augurs well with the market growth. The governments are
offering subsidies to service providers for setting-up stations and expanding
reach to more number of commuters. With rapid growth in urbanization, travel
demand and the number of vehicles have grown considerably. Today, many cities
across the globe are battling traffic congestion, increased fuel consumption,
and deteriorated air quality. Rising fuel consumption has endangered long-term
energy security of several countries, making them increasingly susceptible to
global oil supply fluctuations. Bike-sharing services significantly reduces the
long streaks of traffic, thereby allowing countries to manage environmental
challenges and energy dependency effectively.
In terms of business model, station-based
bike-sharing model was preferred over dockless bike-sharing by service
providers. The value contribution from station-based bike sharing services
stood at over 86% in 2017. The trend will prolong and station-based
bike-sharing model will continue to generate majority of the revenue stream
throughout the forecast period. On the other hand, dockless bike sharing offers
more convenience for users since thy need not worry about full stations upon
arrival or empty stations at the front-end of the trip. On the contrary,
vandalism and theft remains the biggest challenges for dockless bike-sharing
service providers. Various incidence of vandalism and bike theft have been
reported in several companies across the globe. For instance, in Europe, a
leading dockless bike-sharing service provider, Gobee.bike was forced to
abandon its operations in Paris after thousands of its bikes were either
vandalized or stolen. Similarly, the company had also abandoned its operations
in Rome and Brussels because of significant vandalism to its fleet. Service
providers are trying to address these issues by installing GPS trackers in their
bicycles.
The global bike-sharing services market is in
the nascent stage of development and poised to offer significant investment
opportunities for all participants (operators, federal agencies, etc.) across
the ecosystem. In view of positive outlook and to gain first movers advantage,
established companies in other fields are striving to enter bike-sharing
business. For instance, Uber’s recent acquisition of Jump will allow the
company to gain first movers advantage in the U.S. market and prove its
dedication towards becoming an urban mobility company instead of just a taxi
alternative. The bike-sharing services business being in the nascent stage of
development, early movers with best consumer experience, flexibility, and
quality offerings will gain early advantage in the market. Some of the leading
vendors profiled in the study include NYC Bike Share, LLC, Hangzhou Public
Transport Corporation, Gobee.bike, LimeBike, Dropbike, Ofo, Beijing Mobike
Technology Co., Ltd., Uber Technologies Inc., Zagster, and GrabTaxi Holdings
Pte Ltd. among others.
Request Sample: https://www.credenceresearch.com/sample-request/59240
The complete report is available at http://www.credenceresearch.com/report/bike-sharing-services-market
Related Reports:
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