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