The Potential of Bike as a Service
The first bike-sharing system started in Germany (1965) but meaningful traction only occurred in the 2000s, with schemes in Paris and London (e.g., the Barclays Cycle Hire), where bicycles could be released from bike stations upon presentation of a credit card. Mobile communications helped to shift the addressable market upward. UK’s OYBike used mobile phone technology to log use and charge for hires, as well as help set up hire points. It is estimated that more than 1,000 cities have bike-sharing initiatives, but in the last several years, bike-sharing services exploded in China. Now, it has its sights set on other Asian markets, too. In February 2017, three bike-sharing companies, two of them from China (ofo and Mobike), squared up to take a slice of the Singaporean bike-sharing market.
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