8: The Total Addressable Market for Micromobility
Micromobility has an addressable market of more than $1.4 trillion dollars annually in the US alone, a figure that makes it more valuable than longer distance transport addressable by cars ($1.1 trillion).
That’s the message in this episode where we run through the talk ‘When Micromobility Attacks’ that Horace gave at the recent Micromobility Summit in Copenhagen. Be sure to check out the slides — have also included the relevant ones below.
We look at:
How US trip data typically exhibits log-normal distributions (and an explanation of what this means!)
How many of the 2 trillion vehicle trips taken in the US annually would potentially be served by micromobility
How Marchetti’s constant (one hour of travel a day) relates to micromobility’s benefits- how adoption of micromobility would impact car demand, and why this is relevant to automakers- why these high volume, short trips are actually more valuable than average car trips on a dollar basis.
How time spent traveling will actually drive adoption of micromobility in highly congested cities.
Why 3 times more time is spent on short trips than longer trips in vehicles, and the implications for micromobility
The impacts this explosion in micromobility might have on carbon emissions and how we can measure that