Key regions: United States, Saudi Arabia, Germany, Malaysia, India
The Shared Mobility market in Mongolia is experiencing a significant growth trajectory driven by various factors.
Customer preferences: Customers in Mongolia are increasingly valuing convenience and cost-effectiveness when it comes to transportation options. Shared Mobility services offer a flexible and affordable alternative to traditional modes of transportation, catering to the evolving preferences of tech-savvy consumers.
Trends in the market: One notable trend in the Shared Mobility market in Mongolia is the rise of ride-hailing services, which have gained popularity due to their ease of use and quick access to transportation. Additionally, the introduction of bike-sharing and scooter-sharing services has provided commuters with environmentally friendly options for short-distance travel in urban areas.
Local special circumstances: Mongolia's unique geographical landscape, characterized by vast open spaces and nomadic traditions, has influenced the development of Shared Mobility services in the country. The need for efficient transportation solutions in both urban and rural areas has led to the adaptation of shared mobility models to suit the diverse needs of the population.
Underlying macroeconomic factors: The growing urban population in Mongolia, coupled with increasing disposable income levels, has created a favorable environment for the expansion of Shared Mobility services. Additionally, government initiatives aimed at improving transportation infrastructure and reducing traffic congestion have further fueled the demand for shared mobility solutions in the country.
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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