Bike Sharing Market Predicted To Grow Exponentially By 2025

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Global Bike Sharing Market to hit 10 Bn by 2025
Global Market Insights Inc.
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Industry Overview

• Bike Sharing Market driven by Increasing
  environmental health concerns demand in the
  world to surpass USD 10 billion by 2025 and will
  witness 15 CAGR during the forecast timespan.
• Rising environmental concerns along with the
  implementation of government regulation will
  outline bike sharing market trends over the
  forecast period. Rapid modernization and
  urbanization has caused major traffic problems
  that has been associated with safety risks, air
  pollution, economic competitiveness, loss in
  relation with accessibility and sustainable
  growth.
• Bike sharing schemes offer transport flexibility,
  reduced congestion as well as fuel congestion and
  reduction in harmful emissions
• Increasing health consciousness among people
  owing to the rise in health conditions as a
  result of living a sedentary lifestyle will
  contribute towards expanding bike sharing
  industry share. Bikes play a major role in
  leading a healthy lifestyle and exhibit some key
  health benefits. The benefits of biking comprises
  flexible joints, stronger bones, lower body fat
  levels, improved cardiovascular fitness as well
  as reduced anxiety and stress levels.

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• Rapid advancements in technology has led service
  providers to install appropriate navigations
  systems in bicycles which helps people find their
  destination. The convenience delivered by the
  improving technology will foster bike sharing
  market size. Copenhagen had launched an efficient
  and innovative bike sharing program a few years
  ago that was offering GPS-enabled Android tablets
  with the bikes.
• The new equipment was to help commuters schedule
  their travel by train or bike and ensure that
  they are aware of their new pick up connection.
• Key venture investments have been proliferating
  the growth of bike sharing market because of a
  large number of capitalists steadily investing in
  bike sharing start-ups in order to help them
  grow. Funding has recently taken off around the
  world and has been considered ideal for the first
  and the last mile transport. This has resulted in
  investors placing their bets on bike sharing
  companies. Companies in China that have already
  established their presence in the market have
  attracted significant investments.

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New York bike sharing market, by model, 2018
2025 (USD Million)

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Industry Coverage

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• Ofo, for instance, became the first bike sharing
  unicorn in China and scaled globally, showing
  clear potential to secure additional investments.
  The company was valued at 3 billion and has
  raised more than USD 2.15 billion in its series
  of funding by companies like Ant Financial and
  Alibaba. In the follow-on of Series E round, Ofo
  raised USD 586 million in March 2018 in order to
  fund its global expansion.
• Hellobike, the third largest bike sharing
  platform in China had also raised an investment
  of USD 321 million from Ant Financial and has
  been trailing behind companies like Ofo and
  Mobike.
• E-bike has been gaining a momentum due to an
  increase in the adoption of smart bikes. Key
  merits attached to this service is that it
  permits dockless operations which entails a light
  infrastructure at a much lower cost. Consumer
  preference towards E-bikes have been surging due
  to its cost effective features coupled with
  solutions that are eco-friendly, driving the
  expansion of bike-sharing market size.

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• PBSC Urban Solutions along with BIXI Montreal
  recently teamed up to offer next-gen E-FIT bikes
  that will seamlessly fit into the public bike
  systems. The bikes are lightweight and offer
  three-speeds for maximum rideability. After the
  combination with PBSCs E-station, the integrated
  batteries start charging right after the bikes
  are docked which has increased daily trips over
  15.
• Free Floating bike sharing segment will witness a
  considerable growth over the analysis period
  owing to its affordability. Dockless bike share
  will reduce the cost of buildings or stations
  used for bike parking which in turn will help
  increase its deployment. Consumer inclination
  towards this segment will increase due to the
  convenience of parking bikes anywhere at their
  stop. The navigation system installed in these
  bikes help find their locations and can be
  unlocked through bike sharing apps.
• The Ministry of Transport says that China has
  nearly 70 companies that have deployed over 23
  million bicycles nationwide and have attracted
  more than 400 million users. With a revenue of
  35 billion, this industry has helped create over
  390,000 jobs. It has also been estimated that
  dockless bike sharing in China has helped reduce
  400 million hours of time spent in the traffic.

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• Major companies underscoring global bike sharing
  market forecast including Neutron Holdings Inc.,
  Tembici, Divvy Bikes, Capital Bikeshare, Lime,
  Youon Bikes and Mobike. The players have
  consistently involved in gathering investments
  and collaborating with firms and governments for
  the expansion of their business.

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