Key regions: United States, Saudi Arabia, Germany, Malaysia, India
The Shared Mobility market in Sri Lanka is experiencing a significant growth trajectory due to changing consumer preferences and the unique local circumstances in the country.
Customer preferences: Customers in Sri Lanka are increasingly looking for convenient and cost-effective transportation options, which has led to a surge in demand for shared mobility services. The younger demographic, in particular, is more inclined towards flexible and on-demand transportation solutions that can be accessed through mobile apps.
Trends in the market: One notable trend in the Shared Mobility market in Sri Lanka is the rise of motorcycle taxi services, which cater to the need for quick and efficient urban transportation. This trend is driven by the country's traffic congestion issues and the popularity of two-wheeler vehicles among commuters. Additionally, carpooling and ride-sharing services are gaining traction as people seek to reduce their carbon footprint and overall transportation expenses.
Local special circumstances: Sri Lanka's unique geography, with densely populated urban areas and growing traffic congestion, has created a conducive environment for the Shared Mobility market to thrive. The presence of popular tourist destinations and a young tech-savvy population further contributes to the increasing adoption of shared mobility services in the country.
Underlying macroeconomic factors: The growing urbanization and rising disposable incomes in Sri Lanka are key macroeconomic factors fueling the expansion of the Shared Mobility market. As more people move to cities for better job opportunities, the demand for convenient and affordable transportation solutions continues to grow. Additionally, the increasing penetration of smartphones and internet connectivity has made it easier for consumers to access and utilize shared mobility services.
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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