Global IoT Solutions for Micro Mobility Market Grows at a Staggering CAGR of 17.20%

Introduction

The Internet of Things (IoT) has enabled manufacturers to leverage connectivity for additional vital benefits. In various industrial operations, the number of interconnected components has exploded. Increasing applications of IoT in industries such as entertainment, security, and the environment are significantly boosting its demand. Scalability, security, and long-term viability are among the primary reasons for the widespread adoption of IoT by end-users from various industries. In recent years, micromobility is one industry that has rapidly adopted IoT applications. Nations are adopting micromobility to reduce traffic congestion and pollution on a global scale. It is anticipated that this will increase the incorporation of global IoT solutions within the micromobility market.

Micro mobility refers to a group of small, lightweight vehicles that are operated by individuals and travel at speeds of less than 25 kilometers per hour (15 miles per hour). These vehicles include bicycles, electric bicycles (or e-bikes), electric scooters (or e-scooters), electric skateboards, shared bicycles, and electric pedal-assisted (pedelec) bicycles. E-scooters are suitable for urban travel over short distances. E-bikes are ideal for longer, more rapid trips. Typically, they consist of a satellite-based location receiver, a cellular transmitter for cloud communication, and a Bluetooth or internet connection for local functions, such as user access control and configuration, as well as operator servicing and repair.

Market Dynamics

Enormous Market Penetration of IoT and Compliance with Subsequent Governmental Regulations Drives the Global Market

The availability of IoT in industries including entertainment, security, and environmental benefits is substantially boosting the IoT market. Due to IoT's scalability, security, and sustainability, the world is experiencing technological advancements, which have led to various clients' successful adoption of IoT solutions worldwide. Micro mobility as a service provider has laid a solid foundation for developing a shared mobility ecosystem. It has the potential to ensure a high resource utilization rate in contrast to the conventional model of personal vehicle ownership. These advantages are resulting in substantial growth of the market.

The deployment of the micro-mobility fleet is no longer simply due to the escalating population and fiercer competition amongst players. Specific rules differ globally from country to country or even state to state. These rules have also been tightened due to the failure of some well-run transportation businesses. Therefore, complying with these regulations and then adhering to them is a significant obstacle for businesses. The fundamental city ordinances are speed limits, parking regulations, vehicle caps, etc.

To address this problem, businesses must monitor vehicle metrics, such as speed, time to destination, the route is taken, parking location, etc. This is accomplished by equipping vehicles with IoT devices, such as GPS trackers and sensors. The vehicle can be wirelessly controlled to comply with city regulations using these technologies. In the case of electric scooters and charging stations, these solutions also aid users in locating the closest dock or charging station. In the event of improper parking, IoT devices are now intelligent enough to alert the rider about the correct parking space. This could lead to market expansion in the future.

Regional Analysis

Europe dominated the market for Internet of Things (IoT) solutions for micro mobility. It is anticipated that it will expand during the estimated period of the forecast due to the various regulations that the government has enacted to reduce urban congestion and air pollution.

Key Highlights

• The global IoT solutions for the micro mobility market was valued at USD 3.5 billion in 2021. It is projected to reach USD 14.6 billion by 2030, growing at a CAGR of 17.20% during the forecast period (2022–2030).
• Based on vehicle type, the market is segmented into E-Bike, E-Scooter, E-Moped, and Bike. E-bikes dominate the global market for IoT solutions for micro mobility.
• Based on end-user, the market is segmented into Delivery Services and Shared Services. The global market for IoT solutions for micro mobility is currently being led by shared services vehicles to a slightly greater extent.
• Based on the feature, the market is divided into Rider and Operator Application, Dashboard, Telematics, Security, and Analytics. The global market for IoT solutions for micro mobility is dominated by telematics.
• Based on components, the market is bifurcated into Hardware and Software. Hardware dominates the global market for IoT solutions for micro mobility.
• Europe dominated the market for Internet of Things (IoT) solutions for micro mobility.

Competitive Players

Competitive Analysis

The global IoT solutions micro mobility market’s major key players are:

• Twilio Inc.
• Joyride Technologies Inc.
• Telenor Connexion
• Brodmann17
• Mobilogix
• Teltonika
• Omni-ID
• Comodule OU
• INVERS GmbH
• Hangzhou RiDi Technology Co., Ltd
• Voi Technology AB
• LINKA Technologies LLC
• Otonomo Technologies Ltd.
• Taoglas
• Drover AI

Recent Developments

Market News

• January 2022- Comodule OÜ entered a partnership with Enviolo, a manufacturer of stepless shifting products, to make E-bike riding more comfortable with the Enviolo AUTOMATiQ shifting technology combined with Comodule's IoT solution and making it available to riders via mobile application.
• January 2022- Otonomo Technologies Ltd. partnered as a vehicle data platform with Audi AG. Audi's customers and business partners can create consumer offers that improve the user experience with access to comprehensive actionable vehicle data.
• May 2022- Twilio and Carahsoft Expanded Partnership to Accelerate Public Sector Demand for Digital Engagement Solutions. Carahsoft Technology Corp., The Trusted IT Solutions Provider®, has added Twilio's solutions to its GSA IT Schedule 70 contract, making the company's secure communications solutions widely available to the Public Sector through Carahsoft and its reseller partners. This news was announced by Twilio (NYSE: TWLO) (LTSE: TWLO), the customer engagement platform that drives real-time, personalized experiences for today's leading brands.

Segmentation

Global IoT Solutions for Micro Mobility Market: Segmentation

By Vehicle Type

• E-Bike
• E-Scooter
• E-Moped
• Bike

By End-User

• Delivery Services
• Shared Services

By Feature

• Rider and Operator Application
• Dashboard
• Telematics
• Security
• Analytics

By Component

• Hardware
• Software

By Regions

• North America
• South America
• Europe
• Asia-Pacific
• The Middle East and Africa