Key regions: United States, Saudi Arabia, Germany, Malaysia, India
The Shared Mobility market in Africa is experiencing significant growth and evolution driven by various factors unique to the region.
Customer preferences: Customers in Africa are increasingly looking for convenient and cost-effective transportation options, leading to a rise in demand for shared mobility services. The younger demographic in many African countries is also more inclined towards using technology-based solutions for their transportation needs, further fueling the growth of the Shared Mobility market.
Trends in the market: In countries like Nigeria and Kenya, motorcycle hailing services have gained immense popularity due to their ability to navigate through traffic-congested cities quickly. These services have not only provided employment opportunities but have also become a preferred mode of transportation for many urban dwellers. Additionally, the introduction of ride-hailing services offering carpooling options has gained traction in countries like South Africa, where commuters are looking to reduce their carbon footprint and travel expenses.
Local special circumstances: One of the key factors influencing the Shared Mobility market in Africa is the lack of reliable public transportation infrastructure in many regions. This gap in traditional transportation services has created a significant opportunity for shared mobility providers to fill the void and offer convenient alternatives to the population. Moreover, the rapid urbanization and population growth in African cities have led to increased congestion and the need for innovative transportation solutions, making shared mobility services more attractive to consumers.
Underlying macroeconomic factors: The growing middle class in Africa, coupled with increasing smartphone penetration, has played a crucial role in the expansion of the Shared Mobility market. As disposable incomes rise and technology becomes more accessible, more consumers are turning to shared mobility services as a practical and affordable means of transportation. Additionally, the rise of digital payment solutions in the region has facilitated the widespread adoption of shared mobility services, making it easier for customers to access and pay for these services seamlessly.
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of car rentals, ride-hailing, taxi, car-sharing, bike-sharing, e-scooter-sharing, moped-sharing, trains, buses, public transportation, and flights.Modeling approach:
Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.
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