Micromobility Telematics Market To Generate Revenue Worth $13,010.4 Million by 2030

The increasing demand for micromobility services, heavy investments in micromobility, and growing demand for first- and last-mile transportation are some of the major drivers boosting the global micromobility telematics market growth. Due to all these factors, the market is projected to reach $13,010.4 million by 2030, growing with a CAGR of 26.7% during the forecast period (2021–2030).

However, the current COVID-19 pandemic has negatively impacted the market for micromobility telematics. The preventive measures taken by the governments in various countries, such as complete lockdowns and even curfews in hotspot areas, have killed the demand for internal combustion engine (ICE) vehicles, in general, and electric vehicles (EVs), in particular. In addition, the use of shared transportation, including micromobility, is currently being perceived as a health risk, thus slowing down the growth of the micromobility telematics market.

With Strong Need for Vehicle Safety, Station-Based Category Dominated Market in 2020

The micromobility telematics market is categorized into dock-less, station-based, and hybrid, on the basis of sharing type. Among these, the station-based category held the largest market share in 2020. This was mainly because this system offers stronger safety to the vehicles, thereby further allowing for their easier maintenance, which is why new companies tend to invest in this model.

Based on technology, the micromobility telematics market is categorized into embedded, tethered, and integrated. With more micromobility companies offering smartphone connectivity with the vehicles and for booking purposes, the integrated category is expected to witness the highest CAGR during the forecast period.

Geographically, Asia-Pacific (APAC) held the largest share in the market in the year 2020. Huge investments are being received by regional micromobility telematics companies and more technology start-ups are emerging here, which is boosting the market in the region. Furthermore, the players are focusing on providing affordable micromobility in the region to gain the first-mover advantage.

Industry Players Are Focusing on Strategic Developments to Expand Their Market Presence

Global micromobility telematics market players are actively pursuing mergers and acquisitions and product launches to enhance their presence. For instance, in October 2019, E-pire Limited, trading as Luna Systems, launched its flagship product, which is a telematics device. As per the company, this device uses centimeter-level accuracy to deliver the geographical positioning needed for scooter companies to ensure their scooters are being both parked and ridden correctly and complying with the city guidelines and safety regulations. This device features four internal cameras and uses machine vision/artificial intelligence (AI) to pinpoint the position of a vehicle.

Similarly, in May 2019, INVERS GmbH announced the launch of its operating system for micromobility services. The modular full-stack solution enables mobility providers around the world to set up and scale up services such as e-scooter and kick scooter sharing quickly and reliably. The operating system includes telematics, fleet monitoring, and device management solutions and a white-label booking app for end customers and the respective operators´ back-ends.

Some of the major players operating in the global micromobility telematics market are Conneqtech B.V., VULOG SA, INVERS GmbH, PBSC Urban Solutions Inc., Bewegen Technologies Inc., Smoove SAS, SharingOS Holdings Limited, Comodule OÜ, e-motionlabs NV, and E-pire Llimited.