Key regions: United States, Germany, South America, Indonesia, Malaysia
The Car-sharing market in United Arab Emirates has been experiencing significant growth in recent years.
Customer preferences: Customers in the United Arab Emirates are increasingly opting for car-sharing services due to several factors. Firstly, car-sharing provides a cost-effective alternative to owning a car, especially in a country where car ownership can be expensive. Additionally, car-sharing allows customers to have access to a variety of vehicles without the hassle of maintenance and insurance. This flexibility is particularly appealing to the younger generation who value convenience and freedom of choice.
Trends in the market: One of the key trends in the car-sharing market in the United Arab Emirates is the rise of app-based platforms. These platforms provide users with a seamless experience, allowing them to easily book and unlock vehicles using their smartphones. This technology-driven approach has made car-sharing more accessible and convenient for customers, contributing to the growth of the market. Another trend in the market is the increasing focus on sustainability. The United Arab Emirates has made significant efforts to promote sustainable transportation, including the adoption of electric and hybrid vehicles. Car-sharing companies have capitalized on this trend by incorporating electric vehicles into their fleets, offering customers a greener alternative to traditional car rental services.
Local special circumstances: The unique characteristics of the United Arab Emirates contribute to the development of the car-sharing market. The country has a high population density in urban areas, which leads to traffic congestion and limited parking spaces. Car-sharing provides a solution to these challenges by reducing the number of cars on the road and alleviating parking issues. Additionally, the United Arab Emirates has a large expatriate population, many of whom are temporary residents. Car-sharing offers these individuals a flexible transportation option without the long-term commitment of car ownership.
Underlying macroeconomic factors: The growth of the car-sharing market in the United Arab Emirates can also be attributed to several macroeconomic factors. The country has a strong economy and a high per capita income, which enables individuals to afford car-sharing services. Furthermore, the government has been supportive of the sharing economy, implementing policies and regulations that facilitate the growth of car-sharing companies. These factors create a favorable environment for the development of the car-sharing market in the United Arab Emirates. In conclusion, the car-sharing market in the United Arab Emirates is experiencing growth due to customer preferences for cost-effective and flexible transportation options. The rise of app-based platforms and the focus on sustainability are key trends in the market. The unique characteristics of the country, such as high population density and a large expatriate population, further contribute to the development of the car-sharing market. Additionally, macroeconomic factors such as a strong economy and government support play a significant role in driving the growth of the market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of car-sharing services.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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