THE MARKET FOR MOBILITY
Due to the revolution in the way people move, there is an immediate need for sustainable mobility solutions.
The transition at hand is comparable to the time when people moved from horse-drawn vehicles to cars.
The transition will be reflected in the entire mobility industry and will have an impact on the structure of societies for generations in the future.
MOBILITY BECOMING A SERVICE
LIGHT SOLUTIONS TO REPLACE CARS IN FIRST AND LAST MILE JOURNEYS
City bikes and light mobility solutions promote the change, but also other segments of smart mobility, such as car sharing, are growing quickly.
In Finland, the goal is to increase the share of cycling and walking to about 40% by 2030. This means 450 million additional journeys annually when compared with current volumes.
The government will increase funding to develop smart mobility.
THE MOBILITY MARKET IS ATTRACTIVE
The revolution of mobility is global and the related market offers attractive business opportunities in both technology and services.
In 2018, there were already more than 20 million city bikes in the world that required daily maintenance, and their number is growing by 40% annually. Similarly,car sharing is growing globally by 35% and the autonomous vehicle market by 40% annually (source: Business Finland). Consulting firm McKinsey (2019) estimates the global mobility market to reach USD 300–500 billion in 2030.
A key factor in the success of services and in changing the behaviour of movers are the services provided by the ecosystem: The introduction of new innovations and disruptive technology for daily use, servitization, maintenance and user support. In different mobility market segments, up to 50–65% of the value and costs are generated through lifecycle services. This makes the services a very attractive part of the mobility ecosystem.