When you think of vehicles: you probably imagine a car, motorcycle, maybe even aircraft. But what if we tell you that micro-mobility vehicles might soon overtake the traditional means of transportation? That’s what’s been in the news for a while now. Read on to learn about all the essentials of micro-mobility software becoming the primary vehicle!
What are Micro-Mobility Devices?
Not very long ago, in 1975, the first micro-mobility device was launched in Europe by the group Provo. And in 2019, the e-scooter provider Lime and Bird made more than $2B in value. Stunning, right? While the traditional e-scooter can give you 20km/h speed, there’s much potential to progress in the electronic scooter sharing field.
Will There be More Micro-Mobility Device Rentals?
Recently, there’s been much discussion going online that we might soon not need to share a micro-mobility vehicle. The reason? It turns out that the sharing model isn’t a sustainable way of doing business. In fact, the overhead fee might be too expensive while the revenues are not very impressive. It goes without saying that if we continue using micro-mobility services the same way, the sector might collapse anytime.
So how can we deal with this situation? In countries such as Japan and China, where micro-mobility devices are common, people have got the taste of their pros, so they’ll look forward to getting one. What’s more? Considering how much city regulation goes into these trips, it becomes pretty apparent that consumers across the world would benefit greatly from using micro-mobility services on a daily basis. Therefore, buying one would ultimately be the optimal decision.
However, up to now, there has been no much business potential for manufacturers to work on this idea. Meanwhile, the operators of shared services work on getting the final city licenses to offer their services to a broader audience. But, as time will show, many manufacturers are working on providing people with devices that will give them much more than just a helpful toy service. Today, a number of companies plan on making private micro-mobility devices available to the public.
Any Progress in Micro-Mobility Production?
The Canadian company Joyride, for example, has collected more than $4b by offering the public white label solutions for applications, analytics, and more. According to Joyride, the funds will help them connect with small local businesses. Furthermore, the company offers services in more than 160 locations, and it’s been self-sufficient since at least 2014.
In addition, the company has pledged to find and support local businesses to produce the proper vehicles, purchase insurance plans for trusty providers, and more. While we should mention that the company has already offered these services to a number of partners, specifically via the SaaS corporate model, it certainly wants to add more depth to its work and its business development.
Furthermore, Xiaohu Zhang, PhD in Electrical Engineering, recently talked to the MIT News, stressing the importance of the bike-sharing system. According to Zhang, e-scooter and bike sharing models can make urban transportation more efficient. She maintains that a key factor will be the micro-mobility devices’ connectivity and tendency to support short-distance travel. In terms of the huge potential, Zhang is of the opinion that it can be unleashed if independent driving technology supports it.
The Bottom Line
In the years to come, micro-mobility will become more prevalent than ever. Nevertheless, a lot depends on the actions of individual actors. In the case of the Canadian Joyride, we found out the value a single company can have in supporting local small-scale businesses. If such companies can extend their operations to a larger audience, scooter-sharing services might outnumber vehicles very soon.