The shared mobility industry is poised to grow as the shift from private cars to multimodal solutions continues. Though the shared mobility market was battered by the pandemic in 2020, operators quickly re-aligned their business models and emerged stronger.
While all segments have rebounded, two have recorded explosive growth in the last 2 years—Demand Responsive Transit (DRT) and micromobility. People are still wary about using public transport for commuting, which is where technology-enabled safe transport has seen an uptake. Investment in micromobility sharing has boomed. More than 25 micromobility sharing operators raised funds greater than $3 billion in the last 2 years. The pandemic has certainly brought to light the immense potential of micromobility as a resilient mode of transport. The shared mobility market is still dynamic and young, with great potential for further growth, investment, and innovation.
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