Key regions: United States, Saudi Arabia, Germany, Malaysia, India
The Shared Mobility market in Armenia is experiencing a notable shift towards more sustainable and efficient transportation options.
Customer preferences: Armenian customers are increasingly valuing convenience and cost-effectiveness when it comes to transportation choices. Shared Mobility services such as ride-hailing, bike-sharing, and car-sharing are gaining popularity due to their ability to offer on-demand transportation solutions at affordable prices. Moreover, the younger demographic in Armenia is showing a preference for environmentally friendly modes of transport, further driving the demand for Shared Mobility services in the country.
Trends in the market: One of the prominent trends in the Shared Mobility market in Armenia is the growing adoption of ride-hailing services. Companies offering ride-hailing platforms have been expanding their operations in urban areas, providing commuters with a convenient alternative to traditional taxi services. Additionally, the introduction of electric scooters and bicycles for short-distance trips is gaining traction among the Armenian population, contributing to the diversification of Shared Mobility options in the market.
Local special circumstances: Armenia's compact urban centers and increasing traffic congestion are significant factors influencing the growth of the Shared Mobility market in the country. With limited parking spaces and a growing urban population, more people are turning to Shared Mobility services as a practical solution for their daily commuting needs. The government's initiatives to promote sustainable transportation modes and reduce carbon emissions are also creating a favorable environment for the development of Shared Mobility services in Armenia.
Underlying macroeconomic factors: The improving economic conditions in Armenia, coupled with rising disposable incomes, are playing a crucial role in the expansion of the Shared Mobility market. As more people can afford to use transportation services beyond traditional car ownership, the demand for Shared Mobility options is expected to continue rising. Additionally, technological advancements and the increasing penetration of smartphones in the Armenian market are facilitating the accessibility and usage of Shared Mobility services, further driving market growth.
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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