Micromobility vehicle manufacturers collaborate with IoT solution companies to upgrade their vehicles with IoT-based hardware and software. This research study focuses on putting forward IoT solutions' current and future potential for the micromobility market. The report includes an exhaustive analysis of different manufacturers in the market, market dynamics, and regional studies. To reduce traffic congestion and environmental pollution, countries worldwide are supporting micromobility to overcome these issues, which will boost the global IoT solutions for micromobility market.

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The growth of global IoT solutions for micromobility market is due to the rapidly rising demand for first and last-mile delivery markets and kick scooter-sharing. Investment from manufacturers in research and development activities in IoT solutions for micromobility is expected to push the market substantially. Rapid population growth and urbanization worldwide are forcing to switch into micromobility. Further, this will propel the global IoT solutions for micromobility market significantly in the years ahead. Though there are some challenges in the market, such as vandalism, thefts, improper parking of vehicles, and non-availability of required infrastructure, the ongoing vital developments in the market are expected to overcome them in the forecast period.  

E-bikes are battery-powered versions of paddle bikes, traveling up to 16 to 20 mph. E-bikes are reliable, easy to ride, reasonable, and help people live and move more sustainably. They are gaining popularity in countries such as Germany. They are replacing conventional bicycles, while in others, such as China, they replace fossil fuel-powered mopeds and small motorbikes. In 2021, Comodule, an E-bike connectivity pioneer, released a new product driven by the rise of the micromobility and connectivity industries. Some key electric bike manufacturers are Giant Bicycles, Aventon, Buzz Bikes, Lectric eBikes, and GT Bicycles, among others.

Free-floating services occupied the largest share in the market in 2020 due to their ease of implementation. Free-floating is a service for sharing vehicles without fixed stations to make public transportation options available across a city without needing a central hub. The mopeds or kick scooters can be strategically positioned in hotspot regions with high demand as long as it follows the city's micromobility regulations from where users can reserve and utilize a vehicle and park it wherever they want.

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Hardware is currently dominating the market in IoT solutions for micromobility. An IoT device can be easily installed to remotely control and monitor an E-scooter, E-bike, moped, or any other vehicle that allows the user to send commands to the vehicle and have them implemented and monitor its location in real-time and track any errors. The world's top shared mobility companies utilize Teltonika IoT devices.

Europe is dominating the market for IoT solutions for micromobility in 2020 and is expected to grow in the estimated forecast period of 2021-2031 due to various advantages, including the freeing up of parking spots, government regulations, the reduction of urban congestion, the reduction of air pollution, among others. The IoT solutions for the micromobility market in the U.K. are also extensive in volume in 2020 and are expected to increase exponentially over the forecast period. Therefore, IoT solutions for micromobility use in the U.K. are also growing.