Market
Mobility Electric Market
In the past three years, the use of electric transportation has seen a significant increase worldwide. Notably, electric cars, electric buses, electric bicycles, and electric scooters have experienced notable growth. Below is an overview of the growth trends by major types of electric transportation.
Electric Vehicles (EVs) : Electric vehicles have shown the largest growth among electric transportation modes.
2021-2023: Global sales of electric vehicles increased rapidly. In 2021, global EV sales were approximately 6.6 million units, and by 2023, they had risen to around 10.3 million units.
The growth rate is estimated to be over 40% annually. The increase in sales was especially prominent in China, Europe, and the United States.
Along with this, the infrastructure for electric vehicle charging stations also grew significantly.
Electric Buses : Electric buses are one of the fastest-growing segments in public transportation.
2021-2023: In 2021, the global fleet of electric buses was about 60,000 units, and by 2023, it had increased to around 80,000 units.
The global growth rate is estimated to be 15-20% annually, with active adoption particularly in China and Europe.
Electric Bicycles : Electric bicycles are a rapidly growing segment in personal transportation.
2021-2023: In 2021, global sales of electric bicycles were about 18 million units, and by 2023, this number had increased to around 25 million units.
The growth rate is estimated at 20-30% annually.
Electric Scooters : Electric scooters have become a popular mode of transportation for short-distance travel in many cities.
2021-2023: The number of electric scooters worldwide saw a sharp increase. By 2023, over 10 million electric scooters were in use globally.
The global growth rate is around 25%, with a significant expansion of shared electric scooter services in urban areas.
WeWing Platform The membership authentication system of the "WeWing Platform" can be used in these areas, and the authentication feature can also be integrated with the payment system, enabling the provision of payment services. We have already developed and are currently operating a system that charges prepaid cards using Wings.
Transportation Card Market
The global transportation card market is rapidly growing, and with the advancement of digital payments and smart card technology, transportation cards have become an essential payment method. The market is expected to exceed $15 billion by 2025. Transportation card systems are expanding beyond public transportation to various payment services, with active integration into smart cities and autonomous transportation systems.
The characteristics of the transportation card market in key Asian countries are as follows:
China : China is one of the largest transportation card markets in the world. The adoption of smart transportation cards has rapidly spread not only in major cities but also in smaller cities.
South Korea : South Korea has a highly developed electronic card-based transportation system. Payment systems such as T-money and KakaoPay are widely used in public transportation, and transportation cards are utilized for various purposes beyond transportation payments, including shopping, parking, and convenience store payments.
Southeast Asia : Southeast Asian countries have introduced various transportation card systems, with significant increases in usage in countries such as Singapore, Malaysia, Thailand, and the Philippines.
WeWing Platform To enter the established transportation card market, we are aiming to offer transportation card services utilizing not only existing NFC-based transportation cards but also Tagless transportation card technology. We are also making efforts to apply this Tagless technology to services in key Asian countries.
Payment Market
I believe that further explanation of the payment market itself is unnecessary, as it's something everyone is already familiar with.
However, it's important to note that the payment market is not limited to just payments but is also interconnected with sectors such as electric charging and transportation cards, as mentioned earlier.
WeWing Platform
We are making efforts to integrate these services within our WeWing platform, allowing them to work seamlessly together.
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