BIS Research Study Highlights the IoT Solutions for Micromobility Market to reach $26.26 billion by 2031
FREMONT, Calif., May 16, 2022 /PRNewswire/ -- The IoT solutions for micromobility market is projected to reach $26.26 billion in terms of revenue by 2031, at a CAGR of 17.39%, reveals the premium market intelligence study by BIS Research.
Micromobility vehicle manufacturers collaborate with IoT solution companies to upgrade their vehicles with IoT-based hardware and software. 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 governments and consumers to switch to micromobility vehicles from conventional vehicles.
The detailed study is a compilation of 112 Market Data Tables and 61 Figures spread through 210 Pages and in-depth TOC on " IoT Solutions for Micromobility Market – Analysis and Forecast, 2020-2031"
USP of the Report
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Analyst's Take on the Market:
According to Dhrubajyoti Narayan, Lead Analyst, BIS Research, "Internet of Things (IoT) has provided opportunities for manufacturers to leverage connectivity with other essential benefits. The world is experiencing a vast uprising by IoT success due to its scalability, security, and sustainability, resulting in the successful adoption of IoT solutions by different clients around the globe. With the increasing popularity of micromobility vehicles, the global market for IoT solutions for micromobility is also witnessing a bom. Micromobility has the potential to provide first- and last-mile connectivity for commuters."
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Key Companies Operating in the Market and Competitive Landscape
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, market penetration.
Some of the prominent names in the market are:
Companies that are not a part of the above-mentioned pool have been well represented across different sections of the report (wherever applicable).
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