e-Scooters: The New On-Demand App Category is Now a Billion $ Market
e-Scooters are the newest addition in the multimodal last mile sharing economy. Eventhough the number of players in the market are very limited, the market size – both in terms of geography and revenue has grown at a substantial rate.
Bird and Lime – two of the prominent leaders of the e-Scooter app category have raised million dollar fundings, two three times back to back in less than an year of their inception.
While the app category is presently mainstream only in the United States of America, the trend they have set in terms of swift growth, have led to a number of other brands across the world adopting the business idea in their regions.
There are a number of reasons that are being accounted for this sudden rise in the popularity of e-Scooters especially in the business world, with every entrepreneur looking for guaranteed business return asking ‘How much does e-Scooter App Development Cost’.
Three of the main reasons that have contributed to this uprising demand of the app category, are –
- Cost Effectiveness
When you book an e-Scooter for your commute from Point A to Point B, you pay $1 to start and then $0.15 for every passing minute. Cost structure as this makes e-Scooter the ideal cost saving mode of communication.
- Environmentally Sound
Since e-Scooters do not run on gas or petrol, they are a lot more environmentally sound than any of the other ride sharing options present in the on demand economy.
- Prevention of Congestion on Road
Road conditions, of whether you are in India or anywhere in the world have the same story to share – of road congestions and traffic jams, specially at office hours. An event which results in surge pricing and deeper hole in the users’ pockets.
These four problem areas are the ones that have led to the creation of this new on-demand commutation solution.
Wondering how e-Scooter Apps work? Let us look at the app’s functioning –
- Download the e-scooter app from store
- Create Login
- Enter the Card Details
- Once done, a map on the app will show you the available scooters nearby
- Zoom in to find information about the scooter, like its battery status
- When you are near an e-scooter, tap the button on your app to unlock it
- Next, scan the QR code to start the ride
- Once you have reached your destination, tap the button in the app to lock the scooter
- The app will then show you the duration of your commute and the amount that will be charged
With the process as simple as this and the guaranteed high return, the e-Scooter app category is all prepared to witness more brands joining in, offering something more than what the present players are offering – all in the hope to get their share of revenue.
What is to be seen next is how the other ride sharing market players react to this new but profit guaranteeing business model.