Key regions: United States, Saudi Arabia, Germany, Malaysia, India
The Shared Mobility market in Western Asia is experiencing significant growth and development, driven by changing customer preferences, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Customers in Western Asia are increasingly looking for convenient and cost-effective transportation options. Shared Mobility services such as ride-hailing, car-sharing, and bike-sharing are gaining popularity due to their flexibility and affordability. With growing urbanization and traffic congestion in the region, consumers are turning to shared transportation solutions as a convenient alternative to traditional car ownership.
Trends in the market: In countries like the United Arab Emirates and Saudi Arabia, ride-hailing services have seen a surge in demand, with companies expanding their operations to meet the growing needs of consumers. Car-sharing services are also gaining traction in major cities across Western Asia, providing residents and tourists with on-demand access to vehicles without the hassle of ownership. Additionally, bike-sharing programs are becoming increasingly popular in urban centers, promoting eco-friendly transportation options.
Local special circumstances: Western Asia is home to several affluent cities with high levels of disposable income. This has led to a rise in demand for premium shared mobility services, such as luxury ride-hailing and chauffeur-driven car rentals. The region's focus on innovation and technology has also contributed to the growth of shared mobility platforms, with companies introducing new features and services to enhance the customer experience.
Underlying macroeconomic factors: The economic stability and growth in Western Asia have created a favorable environment for the Shared Mobility market to thrive. With increasing smartphone penetration and internet connectivity in the region, consumers have easy access to shared mobility platforms, leading to higher adoption rates. Government initiatives to promote sustainable transportation and reduce carbon emissions have further fueled the expansion of shared mobility services in Western Asia.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
