The Vietnamese micromobility market will grow at a mammoth growth rate of 66% to reach a value of over $10,227 million in 2030. The requirement for plummeting traffic congestion and parking matters and the cost-effective nature of this mobility option are the main factors driving the development of the industry.
E-mopeds will dominate the industry in the future. This is because of the huge population of tech-savvy consumers, as well as the increasing tourist inflow in the country. Vietnam has a pulsating motorcycle culture, and the development of micromobility services with enhanced e- two-wheelers will have a positive impact on the market.
The dockless category had the larger share which will increase at a higher rate in the future, on the basis of sharing system. This is because of the increasing focus of corporations on dockless systems for their lower investment necessities, as companies do not have to make parking stations. Further, users get expediency because of the elimination of parking issues.
The presence of e-bikes is a major strategic move chosen by numerous biksharing service providers. Companies are observing a huge requirement for e-bikes from users. The e-bike is a favored mode of transport as it satisfies the requirement for a higher speed in short-distance commutations better as compared to a pedal bike.
Traffic jams are quite common in the country and are a common occurrence. In some of the megacities of Vietnam, such as Hanoi and Ho Chi Minh City, traffic jams are a constant issue, as there are a lot of vehicles, particularly motorcycles.
Moreover, the usage of cars adds up to further issues, such as parking difficulties and excessive emissions. When there is no efficient means of public transportation, people choose personal vehicles, therefore further obscuring the state of affairs and bringing about more traffic congestion.
Micromobility brings to the table improved connectivity to public transit hubs, therefore plummeting the dependence of individuals on their personal vehicles for first- and last-mile travel. Therefore, micromobility is developing as a likely substitute for overpowering traffic congestion.
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