Global Market for Micromobility Connectivity Estimated to Grow to Over $2 Billion by 2032
Market drivers include high gas prices, sharply increasing costs of living, purchase incentives, and policies to reduce the use of fossil-fueled vehicles
A new report from Guidehouse Insights explores the global market for micromobility connectivity.
The demand for electric micromobility vehicles is expected to remain strong for the coming decade because they are affordable, convenient to use, and contribute to ecological sustainability. Driving their growth are electric two-wheel vehicles (E2WVs), including e-bikes, e-kick scooters, seated e-scooters, and e-motorcycles. According to a new report from Guidehouse Insights, the global revenue resulting from sales of connectivity hardware installed in electric micromobility vehicles is estimated to reach $2.1 billion in 2032, growing at a compound annual growth rate (CAGR) of 8.2%.
“Electric micromobility has experienced rapid growth over the past decade, bringing sustainable transportation to cities around the world,” says Sagie Evbenata, senior research analyst with Guidehouse Insights. “Owners of electric micromobility vehicles and users of shared micromobility services have been drawn to the ease and convenience of renting these vehicles, the speed advantages over other road transportation when travelling through congested cities, and their relatively low usage costs.”
Market drivers contributing to their growth include high gas prices, sharply increasing costs of living, purchase incentives, and policies to reduce the use of fossil-fueled vehicles. As the annual sales and installed base of E2WVs and the data captured by various onboard sensors continue to grow, connectivity features are becoming increasingly important for consumers and operators of shared mobility services. Connectivity facilitates the efficient management of E2WV fleets, enables advanced safety functionalities for riders, and provides useful data for both riders and cities, according to the report.
The report, Connectivity in Micromobility, analyzes the global potential for connectivity hardware for micromobility and evaluates how the market for these technologies will evolve. It features an overview of the key connectivity technologies—4G LTE, LTE-M, NB-IoT, GPS, Bluetooth, UWB, and V2X—and examines the key drivers for future demand. Global market analyses from 2023 through 2032 are segmented into five global regions and include unit sales and sales revenue generated by the listed technologies, as well as E2WV unit sales by region. An executive summary of the report is available for free download on the Guidehouse Insights website.
* The information contained in this press release concerning the report, Connectivity in Micromobility, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.