Key regions: United States, Saudi Arabia, Germany, Malaysia, India
The Shared Mobility market in Bulgaria has been witnessing a steady growth in recent years, reflecting a shift in consumer behavior towards more flexible and sustainable transportation options.
Customer preferences: In Bulgaria, customers are increasingly valuing convenience, cost-effectiveness, and environmental sustainability when it comes to transportation choices. Shared Mobility services such as ride-hailing, car-sharing, and bike-sharing are gaining popularity among urban dwellers who seek efficient ways to commute without the hassle of owning a vehicle.
Trends in the market: One of the notable trends in the Shared Mobility market in Bulgaria is the rising adoption of e-scooter sharing services in major cities. This trend is driven by the convenience and affordability of e-scooters for short-distance trips, especially in congested urban areas where parking is limited. Additionally, the integration of digital platforms and mobile apps has made it easier for customers to access and pay for shared mobility services on the go.
Local special circumstances: Bulgaria's developing infrastructure and expanding urban population are contributing to the growth of the Shared Mobility market. The presence of universities and tech hubs in cities like Sofia and Plovdiv is also fueling demand for innovative transportation solutions among young, tech-savvy consumers. Moreover, the government's initiatives to promote sustainable urban mobility are creating a favorable environment for Shared Mobility service providers to expand their operations in the country.
Underlying macroeconomic factors: The economic stability and increasing disposable income levels in Bulgaria are enabling more consumers to afford alternative transportation options beyond traditional car ownership. As the cost of living rises and traffic congestion worsens in urban centers, Shared Mobility services are seen as practical solutions that offer flexibility and affordability to a growing segment of the population. Additionally, the growing awareness of environmental issues and the need to reduce carbon emissions are driving the adoption of eco-friendly transportation modes like bike-sharing and electric scooters in the country.
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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