The bike-sharing service is rapidly gaining momentum among youths and the working-class population. Such services offer transport flexibility, reduced vehicular emissions, and health benefits, and these factors are seen to boost consumer inclination towards such services. Easy accessibility and affordability are further encouraging individuals to use these services. The bike-sharing service market seems highly lucrative, and the integration of advanced technologies such as location sharing and digital payments would continue to expand the demand in the future.
The bike-sharing service market is anticipated to grow in the forecast period owing to driving factors such as rapid urbanization and easy affordability and availability. Also, such sharing systems contribute towards reducing carbon footprint. However, an increase in passenger vehicles may hamper the growth of the bike-sharing service market during the forecast period. Nonetheless, penetration in developing countries is expected to open significant growth prospects for the players active in the bike-sharing service market over the coming years.
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Top Leading Bike-sharing Service Market Players:
- Bird Rides, Inc.
- Lime (Neutron Holdings, Inc.)
- Lyft, Inc.
- Mobycy (BycyShare Technologies Pvt. Ltd.)
- ofo Inc.
- Spin (Ford Smart Mobility LLC)
- Vélib’ Métropole
- Youon (Yonganxing Technology Co., Ltd.)
- Yulu Bikes Pvt Ltd
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