Key regions: Malaysia, Thailand, United States, Indonesia, South America
The Ride-hailing market in Russia has been experiencing significant growth in recent years, driven by changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Ride-hailing market in Russia have shifted towards convenience and affordability. With the rise of smartphone penetration and the increasing popularity of digital platforms, customers are increasingly opting for ride-hailing services as a convenient and cost-effective alternative to traditional taxi services. The ability to book a ride with just a few taps on a mobile app and the availability of multiple payment options have made ride-hailing services a preferred choice for many Russians. Trends in the market indicate that ride-hailing companies in Russia are expanding their services beyond major cities and into smaller towns and rural areas. This expansion is driven by the increasing demand for ride-hailing services in these areas, as well as the potential for growth and market penetration. Additionally, ride-hailing companies in Russia are diversifying their services by offering additional features such as food delivery and courier services, further enhancing their value proposition for customers. Local special circumstances in Russia, such as traffic congestion and limited parking spaces, have contributed to the growth of the ride-hailing market. In major cities like Moscow and St. Petersburg, where traffic congestion is a major issue, ride-hailing services provide a convenient and efficient mode of transportation. Moreover, the limited availability of parking spaces in urban areas has made ride-hailing services a more attractive option for customers. Underlying macroeconomic factors have also played a role in the development of the ride-hailing market in Russia. The country's economic growth and rising disposable incomes have increased the demand for transportation services, including ride-hailing. Additionally, the growing middle class in Russia has led to an increase in the number of people who can afford ride-hailing services, further driving market growth. In conclusion, the Ride-hailing market in Russia is experiencing growth due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The convenience and affordability of ride-hailing services, the expansion of services into smaller towns and rural areas, traffic congestion and limited parking spaces, and the country's economic growth and rising disposable incomes are all contributing to the development of the ride-hailing market in Russia.
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings and revenues of ride-hailing 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.
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