The bike-sharing economy is shaking up the transportation market worldwide

Bike-sharing services are becoming a fast-growing market.

Just this week, Uber acquired bike-share startup Jump, adding the company’s fleet of 12,000 dockless bikes to its transportation offerings. There’s no doubt that Uber is paying close attention to the growing popularity of bike-sharing services, which are taking off in cities worldwide.

A report compiled by Bike-sharing Blog reveals just how significant the increase in bike-sharing services has been in recent years. As this chart by Statista shows, the number of public-use bikes has experienced massive growth since 2013, when there were only 700,000 public-use bikes in circulation worldwide. By 2016, that number had more than tripled to 2.3 million. The most significant growth took place in China, which in 2016 had 430 public-use bike programs in operation.

Chart of the dayShayanne Gal/Business Insider

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