Key regions: United States, Saudi Arabia, Germany, Malaysia, India
Shared Mobility services in Singapore are gaining popularity among consumers seeking convenient and flexible transportation options.
Customer preferences: Consumers in Singapore are increasingly valuing the convenience and cost-effectiveness of Shared Mobility services. With the growing emphasis on sustainability and reducing carbon footprints, more individuals are opting for shared transportation options over traditional private car ownership. Additionally, the tech-savvy population in Singapore appreciates the seamless booking and payment processes offered by Shared Mobility platforms.
Trends in the market: One notable trend in the Shared Mobility market in Singapore is the increasing diversification of services. Beyond traditional ride-hailing services, consumers now have access to a variety of shared transportation options such as bike-sharing, e-scooter rentals, and car-sharing services. This diversification caters to different customer needs and preferences, contributing to the overall growth of the Shared Mobility market in the country.
Local special circumstances: Singapore's compact size and well-developed public transportation system play a significant role in shaping the Shared Mobility market. The island's efficient public transportation network makes it easy for Shared Mobility services to complement existing options, providing first and last-mile connectivity for commuters. Additionally, Singapore's government policies promoting innovation and sustainability have created a conducive environment for Shared Mobility companies to thrive.
Underlying macroeconomic factors: The strong emphasis on technological advancement and innovation in Singapore's economy has propelled the growth of the Shared Mobility market. The country's high smartphone penetration rate and robust digital infrastructure have facilitated the widespread adoption of Shared Mobility services. Furthermore, Singapore's status as a global business hub attracts a diverse population with varying transportation needs, further driving the demand for Shared Mobility solutions.
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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Mon - Fri, 9am - 6pm (EST)
