According to a new market research report from IoT analyst firm Berg Insight, the number of deployed vehicles in bikesharing schemes worldwide is forecasted to grow from 24.4 million in 2017 to reach 36.9 million in 2023. Bikesharing is a decentralised bicycle rental service, usually focusing on short term rentals that supplements other modes of transport including walking and public transport. Traditionally, most bikesharing operators have used station-based networks operated through public-private partnerships. This operational model requires members to pick up and return the vehicle at any designated station within a city. Another model that is rapidly gaining in popularity is free floating services, which enables members to pick up and drop off vehicles anywhere within a designated area. Today, free floating bikesharing has become the most common bikesharing service in terms of deployed vehicles.