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SHARED MOBILITY RECORDS 30% DROP IN GROSS BOOKINGS IN 2020

The shared mobility industry recorded a 30% drop in gross bookings in 2020, as the COVID-19 pandemic hit. Lockdowns and stay at home measures forced consumers to significantly reduce demand for transport, which consequently hurt the revenue streams of shared mobility operators. However, the shared mobility industry will recover, returning to pre-pandemic levels by 2022.

INTEREST SURGING IN MICRO-MOBILITY

Micro-mobility has seen a renaissance, as more people swapped crowded public transport for open air and individual transport. Some cities opened up the streets to cyclists and other micro-mobility modes to provide easier movement, whilst maintaining social distancing.

ELECTRIFICATION OF SHARED MOBILITY

The future of shared mobility will be electric. Several ride hailing giants have already stepped up to ensure all journeys are electric in the future. This forms part of the global sustainability shift to reduce dependence on fossil fuels and adhere to increasing government calls for carbon neutrality.

SHARED E-BIKES TO SURGE IN POPULARITY

Shared electric bicycles will be a growing future trend in the micro-mobility space due to their practicality in urban settings. Several firms, such as Lime and Joco, have already made large investments in expanding their e-bike fleets, and more companies are expected to follow suit in the future.

NEW BUSINESS MODELS FOR SHARED MOBILITY

New business models in the shared mobility industry will help to deliver novel revenue streams. Production of purpose-built vehicles, vehicles-as-a-service delivery models and mobility diversification will all create new possibilities for the growing industry.