Biking is a popular transit mode across developed countries in North America and Europe. Bike sharing vendors started operations in North America and Europe in 2013 and after little more than a year these services have received a higher adoption across the leading smart cities.
Some of the trends to notice:
- Smart bike sharing companies across the globe have witnessed over 10 million rides per day in H1 2018.
- The dockless bike sharing has witnessed higher adoption in Europe and North America; however, such business models would require high level of technology infrastructure to become successful.
- The leading dockless smart bike sharing vendors from China namely Ofo and Mobike have registered more than a few million rides every day in Europe.
- Asian bike sharing companies are likely to dominate the bike sharing services business due to low vehicle cost, lesser capex and favorable regulations from local transportation authorities.
- Telecom network providers such as Vodafone, Huawei, and AT&T have entered smart biking space owing to the increasing opportunities in enabling bike connectivity with ride sharing providers.
- The need for enabling navigation for smart bikes is pushing the demand for developing customized and multiple navigation modes.
- Bike navigation providers such as Beeline are expected to expand their market presence owing to the increasing demand for localized bike route assistance.
- Also, the electronic component manufacturers namely Intel and Qualcomm are expected to push the market with integrated product offerings and hackproof lock technology.
Dockless model is expected to be challenging for the operators for the next 2 to 3 years; however, docked bike sharing service providers are likely to witness a stable growth during the same period. Despite the ongoing technological developments, the higher adoption of smart biking is pushing the need for strong regulatory support to improve parking facilities at busy areas, protecting vehicles from theft and vandalism.