Like every market, car sharing is also in its evolutionary phase after COVID-19. New models of distribution and car-sharing are continuously developing. National governments are working to adapt the laws to new technologies. As per a report by Global News Wire, the car-sharing market is to grow by $ 7.65 bn during 2020-2024 at a CAGR of 16%. This report also covers the impact of COVID worldwide. Here we will discuss the 3 newest trends in the car-sharing market.
3 newest trends in the car-sharing market
Extraordinary changes were made by the corporate after COVID-19. These included office restructuring and getting the staff back in the offices. This is the reason which made them invest heavily in car sharing. Pre-COVID, their employee used local transport, but that would increase the risk of the infection, therefore, these companies have started or have already developed their own platforms to share the vehicles with employees hence reducing the exposure to the environment.
Micromobility, which is ‘the ability of movement through minimalistic means’, on short distances, using light vehicles, such as scooters, longboards, and obviously bikes, is another emerging and significant trend, especially in overcrowded cities.
Contactless car sharing
Companies are taking advantage of product testing and data opportunities. Just like MoboKey, companies have started to provide components for fleet vehicles, hence, employing shared mobility to test technologies and components and gain access to customer data, where legally permissible.
As per a report by McKinsey;
Global OEMs and suppliers are preparing themselves for both paths since the shared-mobility market is likely to grow at different speeds and take different forms in various regions.
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