Market Size of NORDIC Bike Sharing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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NORDIC Bike Sharing Market Analysis
The NORDIC bike-sharing market is poised to register a CAGR of over 6% during the forecast period (2020-2025).
- NORDIC cities are implementing stricter regulations such as prohibiting the entry of motor vehicles in city centers and promoting electric vehicles in public transport, and other environment-friendly alternatives in city centers such as bike-sharing/ e-bike sharing.
- Increasing traffic congestion, insufficient mass public transport, increasing rates of road fatalities, growing awareness among peoples for environmental concerns, will drive the bike-sharing market. Bike-sharing provides a convenient way of transportation at minimum cost without any hassle.
- The current bike-sharing platforms are using various technologies such as IoT, QR codes, smart-locks, and GPS technology for providing dockless bike-sharing services. Dockless sharing does not have the requirement to distribute the fleet and from the user perspective, they don't have to face the hassle of finding an available docking station.
- Citizens of countries such as Norway were always surrounded by digital solutions, and they trust on technology. Another fact which supports this point is strong network connectivity throughout the country, which supports online bike-sharing schemes.
