Shared Mobility - Asia

Asia

Highlights

The Shared Mobility market in Asia is projected to experience a significant increase in revenue in the coming years.
Specifically, revenue is expected to grow from US$662.30bn in 2024 to US$831.10bn by 2029, resulting in a compound annual growth rate (CAGR 2024-2029) of 4.65%.
The largest market within this market is Flights, which is expected to reach a market volume of US$255.80bn in 2024.
By 2029, the number of users in the Public Transportation market is projected to reach 3.21bn users.
Furthermore, user penetration is expected to increase from 65.1% in 2024 to 76.5% by 2029.
The average revenue per user (ARPU) is expected to be US$223.80.
Online sales are also expected to contribute significantly to the revenue of the Shared Mobility market, accounting for 70% of total revenue by 2029.
It is worth noting that in global comparison, China is expected to generate the most revenue in the Shared Mobility market, with a projected revenue of US$365bn in 2024.
In Japan, car sharing services are gaining popularity as urban residents seek more affordable and convenient transportation options.

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 Asia is experiencing significant growth and evolution driven by changing consumer preferences, technological advancements, and unique local circumstances.

Customer preferences: Customers in Asia are increasingly looking for convenient, cost-effective, and sustainable transportation options. Shared Mobility services such as ride-hailing, bike-sharing, and car-sharing are gaining popularity due to their flexibility and affordability. Additionally, the younger generation's preference for digital solutions and on-demand services is fueling the demand for Shared Mobility in the region.

Trends in the market: In countries like China, ride-hailing services have become an integral part of urban transportation, with major players competing fiercely for market share. The rise of electric scooters and bikes in countries like India is transforming the last-mile connectivity landscape. Car-sharing services are also gaining traction in Japan and South Korea, where urban dwellers are opting for shared vehicles over ownership.

Local special circumstances: Asian countries have unique infrastructural challenges and population densities that are driving the growth of Shared Mobility services. In congested cities like Jakarta and Manila, Shared Mobility offers a solution to traffic congestion and limited parking space. Moreover, cultural factors play a significant role in the adoption of Shared Mobility, with concepts like "face-saving" influencing the preference for ride-hailing services over public transportation in some markets.

Underlying macroeconomic factors: The rapid urbanization and expanding middle class in Asia are key macroeconomic factors contributing to the growth of the Shared Mobility market. As disposable incomes rise and urban populations increase, the demand for convenient and affordable transportation solutions also grows. Furthermore, government initiatives to reduce carbon emissions and improve air quality are driving the adoption of eco-friendly Shared Mobility options such as electric vehicles and bike-sharing programs.

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.