Shared Mobility - ASEAN

ASEAN

Highlights

The ASEAN region is expected to witness a notable growth in the Shared Mobility market with projected revenue of US$66.06bn by 2024.
This is estimated to increase at a CAGR of 4.41% during 2024-2029, resulting in a projected market volume of US$81.97bn by 2029.
Flights are expected to be the largest market in the market with a projected market volume of US$31.59bn in 2024.
Furthermore, the number of users in the Public Transportation market is expected to reach 412.70m users by 2029.
In ASEAN, the user penetration is estimated to be 56.8% in 2024 and projected to increase to 57.9% by 2029.
The average revenue per user (ARPU) is expected to be US$189.00.
By 2029, 68% of total revenue in the Shared Mobility market is anticipated to be generated through online sales.
It is noteworthy that China is expected to generate the most revenue in the Shared Mobility market in 2024, amounting to US$365bn.
In ASEAN, the shared mobility market is flourishing, with Indonesia's Gojek and Philippines' Grab dominating the ride-hailing sector.

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 ASEAN has been experiencing significant growth and development in recent years.

Customer preferences: Customers in ASEAN countries are increasingly valuing convenience, affordability, and sustainability when it comes to transportation options. Shared Mobility services such as ride-hailing, bike-sharing, and car-sharing are gaining popularity due to their flexibility and cost-effectiveness. Additionally, the tech-savvy population in ASEAN countries is embracing digital platforms for booking and payment, further driving the demand for Shared Mobility services.

Trends in the market: In Indonesia, motorcycle ride-hailing services have seen exponential growth, catering to the country's heavy traffic congestion and providing a quick and convenient mode of transport for urban dwellers. Thailand has witnessed a rise in electric scooter-sharing services, aligning with the government's push towards sustainable transportation solutions. Singapore, known for its efficient public transport system, has seen a surge in car-sharing services targeting commuters who require flexibility for their daily commute.

Local special circumstances: The diverse landscape and varying levels of infrastructure development across ASEAN countries present unique challenges and opportunities for the Shared Mobility market. Countries like Vietnam with dense urban areas are witnessing a boom in bicycle-sharing services, promoting eco-friendly transportation options. On the other hand, Malaysia's growing middle-class population is driving demand for premium ride-hailing services that offer comfort and luxury.

Underlying macroeconomic factors: The growing middle-class population, rapid urbanization, and increasing smartphone penetration across ASEAN countries are key macroeconomic factors fueling the growth of the Shared Mobility market. Government initiatives to reduce traffic congestion, curb pollution, and improve overall transportation efficiency are also playing a crucial role in shaping the landscape of Shared Mobility services in the region. Additionally, the rise of digital payment solutions and the sharing economy mindset are further propelling the adoption of Shared Mobility services in ASEAN.

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.