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E-Scooter-sharing - Estonia

Estonia

It is projected that the revenue in Estonia's E-Scooter-sharing market will reach US$1.44m by 2024.
The revenue is expected to experience an annual growth rate (CAGR 2024-2028) of 19.94%, resulting in a projected market volume of US$2.98m by 2028.
Furthermore, it is expected that the number of users in the E-Scooter-sharing market will amount to 150.20k users by 2028, with a user penetration of 6.2% in 2024 and 11.6% by 2028.
The average revenue per user (ARPU) is expected to be US$17.62.
In Estonia's E-Scooter-sharing market, 100% of the total revenue will be generated through online sales by 2028.
In comparison to other countries, United States is projected to generate the most revenue in the E-Scooter-sharing market, with a revenue of US$768,400k in 2024.
Estonia's E-Scooter-sharing market is growing rapidly, with several companies such as Bolt and Citybee offering convenient and eco-friendly transportation options in Tallinn.

Key regions: India, Thailand, Malaysia, China, South America

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Analyst Opinion

Estonia, a small Baltic country known for its advanced digital infrastructure and tech-savvy population, is experiencing a significant growth in the E-Scooter-sharing market.

Customer preferences: Estonians, like many consumers worldwide, are increasingly looking for convenient and sustainable transportation options. E-Scooter-sharing services provide a flexible and eco-friendly alternative to traditional modes of transportation such as cars or public transportation. With the rise of smartphone usage and the growing popularity of app-based services, E-Scooter-sharing platforms have quickly gained traction among Estonian consumers who value convenience and ease of use.

Trends in the market: The E-Scooter-sharing market in Estonia is witnessing several key trends. Firstly, there has been a proliferation of E-Scooter-sharing companies entering the market, leading to increased competition and more choices for consumers. This has resulted in lower prices and improved service quality as companies vie for market share. Secondly, there is a growing trend towards integration of E-Scooter-sharing services with existing transportation networks. This includes partnerships with public transportation authorities, allowing users to seamlessly combine E-Scooter rides with bus or train journeys. Such integration not only enhances the overall transportation experience but also encourages more people to adopt E-Scooter-sharing as a viable mode of transportation.

Local special circumstances: Estonia's compact size and well-developed infrastructure make it an ideal market for E-Scooter-sharing services. With its relatively short distances and well-maintained bike lanes, Estonia offers a conducive environment for E-Scooter usage. Additionally, the country's tech-savvy population and high smartphone penetration rate make it easier for E-Scooter-sharing companies to reach and engage with potential customers.

Underlying macroeconomic factors: Estonia's strong economic growth and high standard of living contribute to the success of the E-Scooter-sharing market. As disposable incomes rise, more people are willing to spend on convenient and sustainable transportation options. Furthermore, the government's focus on environmental sustainability aligns with the goals of E-Scooter-sharing services, making it easier for companies to operate and expand in the market. In conclusion, the E-Scooter-sharing market in Estonia is experiencing rapid growth due to customer preferences for convenience and sustainability, as well as the country's favorable market conditions. With the increasing integration of E-Scooter-sharing services into existing transportation networks and the entry of more players in the market, the future looks promising for this industry in Estonia.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings and revenues of e-scooter-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.