The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research.The system allows bikes to be located and unlocked using a smartphone application.The demand for dockless system is more than station-based due to the lesser requirement of hardware for securing and managing inventory, expanded geographical location, and user flexibility in picking up and dropping off bikes.
Many micro mobility sharing players have promoted the dockless model in the past few years in China, Europe, and the US-Mobike and ofo in the Chinese market; Lime and JUMP in the US and; Cityscoot in Europe-have begun expanding their dockless ride sharing model overseas. Other companies like Vogo, VOI, Mobycy, HOPR, and COUP also operate through dockless models. As micro mobility refers to transportation that covers small distances, bike sharing has made a remarkable change in the urban landscape. Apart from the convenience of pickup and drop-off anywhere, these dockless bikes are cheap. Lesser regulations offer the advantage of the quicker implementation of bike sharing, especially in Asia. China is an example of the bike sharing evolution, where around 60 firms have put 16 to 17 million bicycles on the Chinese streets. Shared bikes today are one of the most popular modes of public transport in China. Other Asian countries like India, Singapore, Taiwan, and South Korea are also making their way into micro mobility. The largest market for automotive is Asia Pacific as the region comprises of rapidly emerging economies like China and India. The reason behind the rise of the market in China and India are the growing concerns over pollution and increasing traffic congestion due to the increased number of vehicles. Moreover, the increased use of smartphones and emerging government regulations on pollution are likely to render a positive impact. The demand for clean, safe, and smart mobility in China, India, and Japan would boost the Asia Pacific market. These companies have strong distribution networks at a global level. Besides, these companies offer an extensive service range in the market. The key strategies adopted by these companies to sustain their market position are new product developments, collaborations, and contracts agreements. It has features that would make bike sharing better than eversuch as pedal-assist for those infamous hills and a new lock that will let users park outside of a station. Under the name e-TINK, the existing system TINK, which comprises 24 unmotorized cargo bikes, was supplemented with 15 electric transport bikes. Cityscoot expanded its service with 500 self-service electric scooters in Milan, after establishing in Paris and Nice. Designed in-house by engineers in both California and China and built by four different manufacturers, this vehicle signals a new phase for the USD 1.1 billion startup, and the broader scooter world. Exhaustive secondary research was done to collect information on the market, the peer market, and model mapping.
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