LONDON--(BUSINESS WIRE)--The global bike-sharing market is expected to post a CAGR about 21% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
Noteworthy improvements in navigational technologies have led vendors to introduce bikes with integrated built-in navigational devices. Such advancements help users in accessing the navigation system via their smartphone apps and reach their desired destinations easily. In addition, many app developers are launching exclusive and easy to use route planning apps for bikes and public transport systems. Thus, the advances in navigation technologies will boost the growth of the bike-sharing market during the forecast period.
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As per Technavio, the rise in venture capital investments will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Global Bike-Sharing Market: Rise in Venture Capital Investments
Vendors are focusing on effectively raising investments from venture capitalists. As a result, they are enhancing their geographical outreach and deploying a greater number of bikes. For instance, one of the prominent vendors in the market, ofo, is focusing on expanding its business by raising more than USD 866 million from Alibaba and Qifeng Group. Thus, with the substantial rise in venture capital investments across the industry, the market for bike-sharing is expected to showcase a positive outlook during the forecast period.
“The rising adoption of dockless bike-sharing services and growing popularity of income-based discount programs are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Bike-Sharing Market: Segmentation Analysis
This market research report segments the global bike-sharing market by product (docked bikes and dockless bikes) and geography (Americas, APAC and EMEA).
The APAC region led the market in 2017, followed by EMEA and the Americas respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to several factors such as rapid urbanization, growing middle-class population, and increasing consumers emphasis on health and fitness in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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