Shared Mobility - Australia

Australia

Australia is expected to see a significant increase in revenue in the Shared Mobility market, with a projected revenue of US$19,990.00m in 2024.
Furthermore, the market is expected to grow annually at a rate of 1.05% from 2024 to 2028, resulting in a projected market volume of US$20,840.00m by 2028.
The largest market in the Australian Shared Mobility market is Flights, with a projected market volume of US$11,140.00m in 2024.
The number of users in the Public Transportation is expected to reach 14,910.00k users by 2028.
The user penetration is predicted to increase from 80.3% in 2024 to 82.1% by 2028 in the Shared Mobility market.
The average revenue per user (ARPU) is expected to be US$932.00.
It is projected that 77% of total revenue in the Shared Mobility market will be generated through online sales by 2028.
When compared globally, China is expected to generate the most revenue in the Shared Mobility market, with a projected revenue of US$412bn in 2024.
Australia's shared mobility market is seeing a surge in electric bike and scooter usage, particularly in urban areas.

Key regions: United States, Saudi Arabia, Germany, Malaysia, India

Market

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Analyst Opinion

Australia's Shared Mobility market is experiencing a significant growth trajectory, driven by changing customer preferences, technological advancements, and unique local circumstances.

Customer preferences: Customers in Australia are increasingly valuing convenience, affordability, and sustainability when it comes to transportation options. Shared Mobility services such as ride-hailing, bike-sharing, and car-sharing are gaining popularity due to their flexibility and cost-effectiveness. Moreover, the younger demographic in Australia, particularly in urban areas, is more inclined towards shared transportation modes over traditional car ownership, contributing to the expansion of the market.

Trends in the market: One prominent trend in the Australian Shared Mobility market is the integration of multiple services within a single platform. This trend not only offers customers a one-stop solution for their transportation needs but also enhances operational efficiency for service providers. Additionally, the market is witnessing an increase in the adoption of electric vehicles within shared mobility fleets, aligning with the country's focus on sustainability and reducing carbon emissions. Partnerships between Shared Mobility companies and public transportation agencies are also on the rise, providing commuters with seamless intermodal transportation options.

Local special circumstances: Australia's vast geography and urban layout present unique challenges and opportunities for the Shared Mobility market. Cities like Sydney and Melbourne with high population densities and traffic congestion are ideal for shared transportation services to thrive. On the other hand, regional areas with lower population density may require tailored solutions to make Shared Mobility services accessible and economically viable. Furthermore, the regulatory environment in Australia, including licensing requirements and safety standards, influences the operations and expansion strategies of Shared Mobility companies in the country.

Underlying macroeconomic factors: The growth of the Shared Mobility market in Australia is also influenced by macroeconomic factors such as disposable income levels, urbanization rates, and infrastructure development. As disposable incomes rise and urban populations increase, the demand for convenient and cost-effective transportation solutions escalates, driving the adoption of Shared Mobility services. Moreover, government initiatives promoting sustainable transportation and smart city development further propel the growth of the market by encouraging innovation and investment in Shared Mobility technologies.

Methodology

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.