Key regions: United States, Saudi Arabia, Germany, Malaysia, India
The Shared Mobility market in Cyprus is experiencing a notable growth trajectory, driven by changing consumer preferences, technological advancements, and evolving urban landscapes.
Customer preferences: Customers in Cyprus are increasingly seeking convenient and cost-effective transportation solutions, leading to a rise in demand for shared mobility services. The younger demographic, in particular, is more inclined towards flexible and on-demand transportation options rather than traditional ownership models.
Trends in the market: In Cyprus, the Shared Mobility market is witnessing a surge in ride-hailing services, bike-sharing platforms, and carpooling initiatives. This trend is fueled by the need for sustainable transportation alternatives, reduced traffic congestion, and the desire for seamless connectivity within urban areas. The emergence of electric scooters and micro-mobility solutions is also reshaping the transportation landscape in Cyprus, catering to short-distance travel needs.
Local special circumstances: Cyprus, being an island nation with a relatively small geographical area, presents unique challenges and opportunities for shared mobility providers. The compact nature of cities and towns in Cyprus makes it conducive for the growth of bike-sharing services and compact vehicle rentals. Additionally, the tourism industry in Cyprus plays a significant role in boosting the Shared Mobility market, as visitors often seek convenient and efficient ways to explore the island.
Underlying macroeconomic factors: The economic landscape of Cyprus, characterized by a growing urban population and increasing emphasis on sustainability, is propelling the Shared Mobility market forward. Government initiatives promoting eco-friendly transportation solutions, coupled with investments in infrastructure development, are creating a conducive environment for shared mobility services to thrive. Moreover, the integration of digital payment systems and mobile applications is enhancing the accessibility and usability of shared mobility options for both residents and tourists alike.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
