Consumer Transportation has evolved into a massive global industry especially since the evolution of Mobility tech. Mobility Tech is the perfect mash up of transportation and technology. As the world has become more connected, mobility tech has facilitated effective mobility solutions to match the demand for low cost and convenient solutions.
Emerging Technology in this space has brought about alternative mobility solutions, which have connected traditional means of transport and digital economy. This has in turn given birth to products and services such as Shared Mobility, Electrical Vehicles, Fleet Management, Autonomous Hardware & Software and Transport Logistics.
Image Source: Comet Labs
Shared Mobility is an innovative transport solution that offers Micromobility, Smart Transit, Ridehailing and Carsharing as alternatives to the transport market. These solutions advocate for safe environmental conditions aimed at lowering gas emissions also reduce congestion, improve health conditions and reduce infrastructure costs and maintenance.
Micromobility is up and coming market where light vehicles such as bicycles, electric scooters and skateboards are offered for pesonal transportation for short distance trips. This is common in congested cities where driving is not considered reasonable. Such cities include Beijing, Shanghai, New York City. Micromobility has given people access to cost effective public transport, ensured that the environment is less polluted and provided convenience.
Asia is a market leader in this space ailing with public programs such as Hangzhou Public Bicycle. From then, start ups have evolved to unicorns in this space with the likes of Ofo, Mobike and Hellobike.
Image Source: InMotion Ventures
Ridehailing services allows the user to hire a personal driver to transport them him or her from one point to another. The ride is not shared and does not make any stops until destination or upon request by the user. Carsharing consists of service that allows users to share rides. Ridehailing firms offer software that allows for interaction between drivers with own vehicles and users. With this solution, these firms have avoided employment and vehicle maintenance costs. Some of these firms have grown to MaaS (Mobility-as-a-Service) providers integrating ridehsraing, micromobility, public transportation booking and other services.
The likes of Uber who have diversified into food delivery with Ubereats, micromobility with the purchase of Jump bike. Also Didi Chuxing, one of the ride hailing firm with he largest market share in China. Didi has since evolved into a MaaS provider offering diverse services such as Mobility in the range of Didi Express, Didi Premier, Didi Taxi, Didi Hitch, Didi nterprise Solutions, Didi Bus, Didi Designated Driving, Didi Luxe and Didi Bike. Didi has since expanded into other territories in countries like Australia, Brazil, Chile, China, Colombis, Japan and Mexico. Also Didi Chuxing has also ventured into financial services with Didi Car Insurance and technology with Didi Brain, Smart Transit, Didi AI Labs and Didi Autonomous Driving.
Electric Vehicles is a portion of mobility tech that decades ago, was just a myth but in recent years has grown into fruition. These vehicles are powered by electricity from off vehicles or batteries that convert fuel into electricity. The vehicles can be Battey Electric Vehicles, Plug in Hybrid Electric Vehicles or Hybrid Electric Vehicles. Vehicles in this space include Tesla Model 3, BMW i3, Tesla Model S, Tesla X, Ford Fusion Energi, Toyota Camry Hybrid, Toyota Prius Hybrid, Porsche Cayenne S E-Hybrid, BMW i8, Audi A3 E-Tron, Volkswagen e-Golf, Rivian R1S Electric SUV, R1T Electric Pickup Truck and so many more.
Fleet Management offer platforms that allows tracking vehicles, vehicle positioning, cloud hosted fleet management platforms, camera platforms that monitor behavior of the drivers. This tech has helped commercial fleet firms monitoring drivers and cargos to ensure safe transit and delivery. This segment of Mobility tech is focused mainly on the advanced fleet management and Driver Monitoring & Predictive Analytics.
The Autonomous Driving includes Hardware and Software focus on enabling vehicles to operate driver less. The hardware enabling this include LiDAR, V2V/V2I, Radar Camera/Optics, Systems On a Chip (SOC), GPS, Actuators, Ultrasonic sensors and even Odometry Sensors. The software include Localization & Mapping, Perception & Object Analysis Algorithms, High Definition On-Board Maps, Prediction, Decision Making, Vehicle Operating Systems, Supervision Platforms, Data Center and AV Cloud Operation.
Image Source: McKinsey&Company
Mobility Tech has attracted worthy investors and public attention to the Industry. In the past year, the Industry has seen more unicorns in this place being listed for an IPO. The likes of both lyft and Uber made major headlines sending the waves to the market in the past year. Their valuations recorded in billions of dollars were questionable as their profitability did not address the worries in the hearts of investors. However, it is a promising Industry that has revolutionarized the means of consumer transportation and more innovation is yet to come into existence. More research is poured into this space with emphasis on autonomous vehicles and an efficient smart transportation model.