Key regions: United States, Saudi Arabia, Germany, Malaysia, India
Over the past few years, the Shared Mobility market in Hungary has been experiencing significant growth and evolution.
Customer preferences: Customers in Hungary are increasingly valuing convenience, cost-effectiveness, and sustainability when it comes to transportation options. Shared Mobility services such as ride-hailing, car-sharing, and bike-sharing are gaining popularity due to their flexibility and affordability compared to traditional car ownership. Additionally, the younger generation, in particular, is more inclined towards shared transportation solutions that align with their environmentally conscious mindset.
Trends in the market: One of the key trends shaping the Shared Mobility market in Hungary is the integration of digital platforms and mobile applications. This technological advancement has made it easier for consumers to access and utilize shared transportation services, thereby driving market growth. Moreover, the market is witnessing collaborations between Shared Mobility providers and public transportation systems to offer seamless intermodal solutions, enhancing the overall mobility experience for users.
Local special circumstances: In Hungary, the Shared Mobility market is also influenced by the government's initiatives to reduce traffic congestion and air pollution in major cities. Policies supporting sustainable transportation options and infrastructure development have created a conducive environment for Shared Mobility services to thrive. Furthermore, the cultural shift towards a sharing economy mindset is encouraging more individuals to embrace the concept of shared transportation for their daily commuting needs.
Underlying macroeconomic factors: The economic landscape of Hungary, with a growing urban population and increasing disposable income levels, plays a crucial role in the expansion of the Shared Mobility market. As more people move to urban areas and seek cost-effective transportation solutions, Shared Mobility services become a practical choice. Additionally, the rise of flexible working arrangements and the gig economy are driving the demand for on-demand transportation services, further fueling the growth of the Shared Mobility market in Hungary.
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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