Shared Mobility - Azerbaijan

Azerbaijan

Azerbaijan is expected to witness a significant growth in the Shared Mobility market.
According to the projections, the revenue in this market is anticipated to reach US$808.70m in 2024, with an annual growth rate (CAGR 2024-2029) of 3.49%.
This growth is expected to result in a market volume of US$960.00m by 2029.
The largest market in this market is Flights, which is expected to have a market volume of US$364.40m in 2024.
Moreover, the number of users in the Public Transportation market is projected to reach 6,615.00k users by 2029.
In the Shared Mobility market, the user penetration of 79.8% in 2024 is expected to increase to 85.4% by 2029.
The average revenue per user (ARPU) is expected to be US$96.87.
Furthermore, it is projected that 56% of the total revenue in the Shared Mobility market will be generated through online sales by 2029.
Notably, in comparison with other countries, China is expected to generate the most revenue in this market, with a projected revenue of US$365bn in 2024.
Shared mobility services, such as bike-sharing and carpooling, are gaining popularity in urban areas of Azerbaijan as a sustainable and cost-effective transportation option.

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

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

Region

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Currency

Analyst Opinion

The Shared Mobility market in Azerbaijan is experiencing a significant increase in demand and popularity.

Customer preferences: Customers in Azerbaijan are increasingly valuing convenience, cost-effectiveness, and sustainability when it comes to transportation options. Shared mobility services offer a flexible and efficient way to travel around the city, especially in urban areas where traffic congestion and parking can be challenging.

Trends in the market: One noticeable trend in the Shared Mobility market in Azerbaijan is the growing number of ride-hailing and car-sharing services available to consumers. This trend is driven by the increasing smartphone penetration in the country, making it easier for people to access and use these services. Additionally, the younger population in Azerbaijan is more open to trying out new transportation options, contributing to the growth of shared mobility services.

Local special circumstances: A unique aspect of the Shared Mobility market in Azerbaijan is the government's support for sustainable transportation solutions. Initiatives promoting eco-friendly modes of transport, including shared mobility services, are gaining traction in the country. This support is encouraging both service providers and consumers to adopt greener transportation options.

Underlying macroeconomic factors: The economic growth and rising urbanization in Azerbaijan are key macroeconomic factors influencing the Shared Mobility market. As more people move to cities for better job opportunities, the demand for convenient and affordable transportation solutions increases. Shared mobility services cater to this demand by offering a cost-effective alternative to traditional car ownership. Additionally, the government's focus on improving infrastructure and transportation networks is creating a conducive environment for the growth of shared mobility services in the country.

Methodology

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.