South Korea Bike Sharing Market size was valued at US$ 2.83 Million in 2020 and the total South Korea Bike Sharing Market revenue is expected to grow at 4% through 2021 to 2027, reaching nearly US$ 3.72 Million.
South Korea ranks 6th in APAC in bike sharing with 28% YOY growth as new technologies for bike sharing are emerging in the main city Seoul and other regions. Moreover, people are adopting the healthy lifestyle over other which is considered to drive the market growth in the region.
South Korea Bike Sharing Market Scope:
Between 2022 and 2029, the industry for the South Korea Bike Sharing market is anticipated to develop at the fastest CAGR. Market approximations and estimations are provided in this study. This Stellar market research (SMR) study examines and analyses the trends, obstacles, and opportunities in the South Korea Bike Sharing Market. The purpose of this report is to provide a strategic overview of the South Korea Bike Sharing industry, including important submarket contributors, current growth trends, and future development projections. The SMR study includes a country-by-country segmentation as well as North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and South America. Analyses of the major competitive advantages, market positions, and strategic preferences of main industry actors are examined. Profiles of the top participants in the market are also provided, together with details on their most recent competitive victories, investments, strategic goals, and competitive environment.
South Korea Bike Sharing Market Overview:
Most PBS users cover shorter distances (about 2 kilometers) by bicycle. Located on public transport hubs in poorly connected areas, the PBS system helps extend the reach of these services by providing first and last mile connections. In addition, the PBS system provides affordable transportation to a wide range of users through innovative pricing models such as long-term subscriptions.
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South Korea Bike Sharing Market Dynamics:
In addition to a series of safety and maintenance measures, the city of Seoul has introduced a new service for users of the Ttareungyi public bicycle sharing service. App-based bicycle-sharing services in the city have become a popular personal mode of transportation during the coronavirus pandemic as people avoid crowded public transport such as trains and buses. The number of Ttareungyi users increased by 24% year-on-year to 2.78 million in 2020.
South Korea Bike Sharing Market Segmentation:
The qualitative and quantitative data provided in the South Korea Bike Sharing Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the South Korea Bike Sharing Market.
Key Players:
Ddareungi (Seoul)
PUMP (Daegu City)
Kakao (Gwangju)
Socar (Seoul)
South Korea Bike Sharing Market Regional Analysis:
Europe, North America, Asia-Pacific, the Middle East and Africa, and South America are the five main geographic regions of the South Korea Bike Sharing market.
COVID-19 Impact Analysis on South Korea Bike Sharing Market:
COVID-19 has had an impact on the entire market, and when its effects are felt more widely in 2019 and 2020, they will also have an effect on the growth rate. In order to give trustworthy information and experiences to decision-makers, the COVID-19 problem is requiring businesses and organisations to manage risk and digitise operations. SMR's most recent research, opinions, and insights on the management challenges that matter most to businesses and organisations regarding the market support this.
Key Questions answered in the South Korea Bike Sharing Market Report are:
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About Stellar Market Research:
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South Korea Bike Sharing Market , Asia Pacific Vehicle Subscription Market
Indian consultancy company Stellar Market Research was established in 2018. It is an expert in providing clients with long-term planning and consultancy services to aid in their organisational transformation objectives.
South Korea Bike Sharing Market , South Korea Bike Sharing Market Size , South Korea Bike Sharing Market Share , South Korea Bike Sharing Market Growth , South Korea Bike Sharing Market trends
Nov 28, 2022
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