As more and more people are turning to working from home, with a vast majority of those people living in huge epicenters around Europe, we are seeing a few growing trends within the mobility industry. The major trend is the versatility in which people are getting from A to B and the conveniency it offers.
A study from McKinsey expects the annual growth rate for shared-mobility solutions to exceed 20 percent through 2030. With this prediction, the way in which mobility is seen, used, and offered will change and the requirements will need to be met.
Aspects such as flexibility, price, conveniency, and sustainability must be incorporated in order to stay relevant and competitive. But what exactly are consumers using and why are we seeing these trends? Let’s have a look:
- Micro-mobility: The first trend we are seeing is an increase in popularity of what has come to be called micro-mobility. This includes all small vehicles used by an individual such as a bike, e-bike, e-scooter, moped, etc. It is a very practical solution for those that don’t have a far commute or reside in large cities where smaller modes of transportation are easier and more convenient.
- Car-sharing/car-hailing: A somewhat new phenomena for getting around is a concept known as car-sharing/car-hailing. Easily book a car for a short period of time or order a ride to take you where you need to go. This type of traveling is better when the distances are greater between destinations and is just as accessible as micro-mobility.
Reasons for the rise in shared-mobility in a digitized on-demand world
Both of these somewhat new mobility trends change the way of how we view transportation due to the fact that there isn’t a need to personally own a vehicle. But why are we seeing these trends coming into the mobility market?
- Home Office. With the majority of people working from home these days, there is no longer the necessity to own a personal vehicle. Why waste time and money on something that you don’t need every day? Car-sharing or car-hailing becomes more practical and is as simple as a click on your smartphone.
- Global Pandemic. The Corona virus has changed many aspects of our lives and one of those would be the urgent need to get from A to B. Instead, there’s less of a demand for constant or immediate transportation. Plus, micro-mobility is more appealing due to the fact that there is minimal contact with other people when traveling.
- Sustainable. When comparing micro-mobility and car-sharing/hailing to other forms of transportation, these two new trends are far more eco-friendly. Many of the smaller vehicles are sustainable and there are even options for electric vehicles. The future of mobility is greener with the help of these rising trends.
- Cheaper. When considering the costs of owning a personal vehicle, around half of the people underestimate the total amount. Car ownership is not to be taken lightly, as unexpected costs can arise. Both car-sharing/hailing and micro-mobility offer a less expensive option based on traveling needs.
- Convenient. The conveniency is extremely desirable with these up-and-becoming trends since living in larger cities can pose obstacles for personal autos. Instead, e-scooters, e-bikes, car-sharing, and other options are readily available without wasting any time.
- Flexible. When owning your own vehicle, there aren’t many options for switching to a different model and trying something new. However, with micro-mobility and car-sharing, the choice is yours whenever you want. The options are there to fit your lifestyle and not the other way around.
Convenience through security
As mobility becomes more flexible and diverse, security plays a major role in leading the future of mobility. Companies and consumers want to know they can trust one another because safety is everyone’s concern. End users of these services are not only looking for convenience, but also secure mobility options. They need to trust that they are getting exactly what they are looking for in a transportation service.
In return, mobility providers want to deliver on that because they know that the more convenient and secure their service is the higher the conversion rate. Therefore, security is a two-way street for both the consumers and the companies because when convenience is met by providing a secure and reliable service, conversion rates rise.
Furthermore, when automated ID verification is integrated into the onboarding process it increases the confidence of users in using a certain mobility provider. Onboarding feels safe, robust, straightforward, and convenient for consumers while also being flexible to the services through easy integration into a mobility app with different languages in the interface.
IDnow is there to assist in this endeavor with products such as AutoIdent or AutoIdent with e-sign add-on and while leveraging technologies such as NFC. With an onboarding process of only a couple of minutes, consumers have the conveniency they are searching for, while companies meet KYC needs. Trust is our top priority and we wouldn’t have it any other way.
Identity verification for the new driver experience.
Why conveniency and security should be at the top of your priority list
Not only have we mentioned that the right balance of conveniency and security will increase your conversion rates, but it will give you a step-up from your competitors. Because users are looking for these two main aspects in a mobility service, if you don’t provide it, or aren’t fast enough, they will easily find the next scooter or car that does provide what they are looking for. Looking ahead gives you the benefit of knowing what consumers want and need, and they will thank you for it by choosing you every time.
Grow your mobility services with our in-depth mobility guide
For further information on the subject with more insights into the new driver experience, our Mobility eBook is a great resource for delving further into the trends we are seeing within the industry. The tools you need to grow your service are also described in more detail. We are there for you by providing you with all your digital identification needs.
So, as transportation starts to head in a different direction compared to what we’ve seen in the past, one thing remains the same: people want a solution that fits their lifestyle. And these two trends we are seeing fit to the lifestyles today’s generations are living. Thus, adapting to these new requirements is essential for the mobility industry and ID verification is there to support in those needs. Security and trust are the platforms for the mobility of the future and IDnow is there for you every step of the way.
Senior Sales Manager Mobility & Travel
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