Report Description Report Description and Highlights

Global Bike Sharing Market Research Report:

The latest report by IMARC, titled “ Bike Sharing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-202 8

”

" the global bike sharing market reached a value of US$ 3.5 Billion in 2022. Bike sharing refers to a micro-mobility service that generally enables individuals to hire or borrow bicycles on a short-term basis. It is based on a self-service model that allows users to utilize the rental bike service using membership cards, credit or debit cards, and a smartphone. It offers electric or conventional bicycles on rent that are widely available at docking stations. Docks are computer-controlled parking spaces mainly built for bike parking that provide tourists and locals a cost-efficient means of transportation within a particular city. The popularity of bike sharing services is increasing across the globe due to their numerous benefits, such as transport flexibility and reduced fuel consumption. Request Free Sample Report: https://www.imarcgroup.com/bike-sharing-market/requestsample

Global Bike Sharing Market Trends :

The market is primarily driven by a considerable rise in traffic congestion across the globe, especially in developing economies. Along with this, the rising health consciousness among individuals and the widespread preference for leading a healthy lifestyle are supporting the demand for bike sharing services. Coupled with the increasing environmental concerns among the masses, this has significantly propelled the growth of the market. Furthermore, numerous initiatives undertaken by the governments of multiple countries to build an organized system of bike sharing services are providing an impetus to the market growth. Additionally, leading players are heavily investing in expanding their portfolio by including e-bike rental services due to an enhanced focus on sustainable development among the masses. Other factors, including rapid urbanization, the rising incorporation of advanced technologies with bikes, and the continual development of smart cities, are also creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 4.7 Billion by 2028, expanding at a CAGR of 4.86% during 2023-2028.

Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).