Key regions: United States, Saudi Arabia, Germany, Malaysia, India
The Shared Mobility market in Lithuania is experiencing significant growth and transformation in recent years.
Customer preferences: Customers in Lithuania are increasingly valuing convenience, affordability, 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 cost-effectiveness. Consumers are also showing a growing interest in eco-friendly modes of transportation, driving the demand for electric scooters and bicycles in urban areas.
Trends in the market: One of the prominent trends in the Shared Mobility market in Lithuania is the integration of various services into multi-modal platforms. This allows users to access different modes of transportation through a single app, providing a seamless and efficient travel experience. Additionally, there is a growing trend towards partnerships between shared mobility providers and public transportation agencies to offer integrated solutions that cover first and last-mile connectivity.
Local special circumstances: Lithuania's relatively small size and well-developed urban infrastructure make it an ideal environment for shared mobility services to thrive. The country's tech-savvy population and high smartphone penetration rate further facilitate the adoption of digital mobility solutions. Moreover, the government's initiatives to promote sustainable transportation and reduce traffic congestion are creating a favorable regulatory environment for shared mobility operators to expand their services.
Underlying macroeconomic factors: The growing trend of urbanization in Lithuania, particularly in major cities like Vilnius and Kaunas, is driving the demand for alternative transportation options beyond traditional car ownership. Additionally, the increasing focus on environmental sustainability and the shift towards greener practices are influencing consumer behavior towards more eco-conscious modes of transportation. The overall economic stability and rising disposable incomes in Lithuania are also contributing to the growth of the Shared Mobility market, as consumers seek cost-effective and efficient ways to meet their transportation needs.
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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