Shared Mobility - Africa

Africa

The Shared Mobility market in Africa is expected to experience significant growth in the coming years.
According to projections, revenue in this sector is set to reach a staggering US$27,710.00m by 2024, with an estimated annual growth rate (CAGR 2024-2029) of 6.91%, leading to a projected market volume of US$38,710.00m by 2029.
The largest market of this market is Flights, which is expected to generate revenue of US$9,615.00m by 2024.
By 2029, the number of users in the Public Transportation market is anticipated to amount to 816.10m users.
In 2024, the user penetration rate is projected to be 51.8%, while it is expected to reach 66.8% by 2029.
The average revenue per user (ARPU) is expected to be US$41.15.
Furthermore, it is estimated that 55% of total revenue in the Shared Mobility market in Africa will be generated through online sales by 2029.
It is interesting to note that in the global comparison, China is expected to generate the most revenue in this sector, with a projected revenue of US$365bn by 2024.
In Nigeria, shared mobility services are gaining traction due to the high urbanization rate, traffic congestion, and limited public transportation options.

Key regions: United States, Saudi Arabia, Germany, Malaysia, India

Definition:

The Shared Mobility market encompasses a diverse range of long- and short-distance mobility services. As the world moves towards a more connected and digital era, the Shared Mobility market is central to driving innovation, collaboration, and the development of intelligent transportation systems.

Structure:

The market consists of eleven further markets. These include the following markets:

The Car Rentals market contains vehicle rentals that have been booked in person, by telephone via the internet or an app.
The Car-sharing market includes professionally run car-sharing services that provide on-demand access vehicles, allowing users to rent cars for short periods, e.g., by minute or hour.
The Bike-sharing market contains short-term bike-sharing services. Bicycles can be found in the provider’s business zone where they are either parked at designated stations or freely distributed without fixed docks.
The Ride-hailing market encompasses on-demand transportation services facilitated through mobile apps or online platforms. This market covers both private vehicle rides and taxi services, all booked exclusively online.
The Taxi market covers exclusively traditional taxi services booked offline, typically via street hailing or phone calls.
The Flights market contains air travel bookings regardless of the purchase channel, such as an airline's website or a travel agency.
In the Public Transportation market, revenues generated by ticket sales from public transportation companies are considered.

Additional Information:

The main performance indicators of the Shared Mobility market are revenues, average revenue per user (ARPU), user numbers and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the above-mentioned markets. User numbers show only those individuals who have made a reservation, independent of the number of travelers on the booking. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

The booking volume includes all booked rides made by users from the selected region, regardless of where the ride took place.

For further information on the data displayed, refer to the info button right next to each box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Shared Mobility market in Africa is experiencing significant growth and evolution driven by various factors unique to the region.

Customer preferences: Customers in Africa are increasingly looking for convenient and cost-effective transportation options, leading to a rise in demand for shared mobility services. The younger demographic in many African countries is also more inclined towards using technology-based solutions for their transportation needs, further fueling the growth of the Shared Mobility market.

Trends in the market: In countries like Nigeria and Kenya, motorcycle hailing services have gained immense popularity due to their ability to navigate through traffic-congested cities quickly. These services have not only provided employment opportunities but have also become a preferred mode of transportation for many urban dwellers. Additionally, the introduction of ride-hailing services offering carpooling options has gained traction in countries like South Africa, where commuters are looking to reduce their carbon footprint and travel expenses.

Local special circumstances: One of the key factors influencing the Shared Mobility market in Africa is the lack of reliable public transportation infrastructure in many regions. This gap in traditional transportation services has created a significant opportunity for shared mobility providers to fill the void and offer convenient alternatives to the population. Moreover, the rapid urbanization and population growth in African cities have led to increased congestion and the need for innovative transportation solutions, making shared mobility services more attractive to consumers.

Underlying macroeconomic factors: The growing middle class in Africa, coupled with increasing smartphone penetration, has played a crucial role in the expansion of the Shared Mobility market. As disposable incomes rise and technology becomes more accessible, more consumers are turning to shared mobility services as a practical and affordable means of transportation. Additionally, the rise of digital payment solutions in the region has facilitated the widespread adoption of shared mobility services, making it easier for customers to access and pay for these services seamlessly.

Methodology

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.