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Executive Analysis of Bike Sharing in North America
Frost & Sullivan, Sep 2010, Pages: 68
This Frost & Sullivan research service titled Executive Analysis of Bike Sharing in North America provides an executive analysis of bike-sharing programs across North America. The study differentiates bike sharing from other emerging concepts of mobility. It includes analyses of various business models, critical success factors, challenges, and infrastructure evaluation. Furthermore, a detailed examination of individual states in the United States has been presented to identify high potential locations. A cost versus revenue analysis is also given for bike sharing. The study concludes with an overview of key bike share programs in the United States and Canada, and a case study that analyzes strengths and weaknesses of two major programs.
Market Overview
Demand for Green Transportation Alternatives and Strategies to Enhance Public Transit System Fuel Growth of Bike sharing in North America
Bike sharing is fast emerging as a greener and non-motorized alternative mode of transportation across North America. The concept is still in the nascent stage and faces many impediments including vandalism, theft, and inadequate funding. However, owing to advancements in technology and the use of global positioning system (GPS), radio frequency identification (RFID), and self-service kiosks, numerous lucrative opportunities have opened up for such programs. Bike sharing complements other transport modes available; it can easily be integrated into the public transportation system to make commuting convenient and simple. “Economic development, city congestion, and space constraints have all contributed to the shared mobility trends, and bike sharing is the most recent,” notes the analyst of this research service. “The concept optimizes use of the public transit system by enhancing the first mile and last mile connectivity; moreover, it successfully meets the objectives of urban commuters, primarily carbon footprint reduction, healthier mode of travel, travel flexibility, and affordability.” As the market for bike sharing matures and existing business models gain acceptance, increase in its membership base will be exponential. Presently, bike-sharing programs are more sustainable as users can be held accountable for theft and damages. Business models have already been tried and tested in Europe and are based on a usage driven fee model, resulting in a positive revenue stream. A convenient, self-service model enabled through modern technology such as smart card activation is expected to propel the demand for bike sharing, especially in large urban areas and small cities with high population density.
Apart from the rise in the number of incidents of theft and vandalism, factors such as low awareness regarding usage and policies related to the use of helmets are posing challenges to adoption of the program. “In a scenario where a new concept such as bike share is yet to gain mass acceptance, and emerging business models are still too new to set a precedent, it is very important to learn from past mistakes,” says the analyst. “The key is to evaluate the infrastructure required as thoroughly as possible, ensure there is an extensive transit network successfully running, and emphasize on consumer outreach and education.”
With bike-sharing programs gradually gaining traction in North America, keeping users informed about the way these programs work and continued funding through fees or advertisements or grants will be the two most important success factors in the long run. In addition, logistics and infrastructure planning should be fine tuned to ensure most effective utilization of bike station locations. This is because availability of bikes in large numbers and close grouping of bike stations are vital for the success of any bike share program. Program operators must address three major issues – add tools that prevent theft/ vandalism, develop appropriate revenue models and infrastructure to be able to raise adequate funding, and increase consumer awareness so members can be added quickly. Focus on information sharing regarding station locations, parking spots, and bikes availability through consumer-oriented applications will pave the way for success in the long term.
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