Shared Mobility - Armenia

Armenia

Highlights

Armenia is projected to have a revenue of US$282.60m in the Shared Mobility market by 2024.
It is expected to show an annual growth rate of 5.88%, leading to a projected market volume of US$376.10m by 2029.
The largest market in the Armenian market is Public Transportation, which is projected to reach a market volume of US$130.30m in 2024.
By 2029, the number of users in the Public Transportation market is expected to reach 2.19m users.
The user penetration rate is anticipated to increase from 95.0% in 2024 to 95.0% in 2029.
The average revenue per user (ARPU) is projected to be US$102.60.
Additionally, by 2029, 55% of the total revenue in the Shared Mobility market will be generated through online sales.
In comparison to other countries, China is expected to generate the most revenue, with a projected revenue of US$365bn in 2024.
Armenia's Shared Mobility market is on the rise with the introduction of electric scooters and bike-sharing services in the capital city, Yerevan.

Key regions:

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 definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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.