Shared Mobility - Bangladesh

Bangladesh

The Shared Mobility market in Bangladesh is expected to experience a surge in revenue, with projections indicating a rise to US$3,034.00m by 2024.
The market is expected to grow at an annual growth rate of 7.86% (CAGR 2024-2029), resulting in a projected market volume of US$4,429.00m by 2029.
The largest market in Bangladesh is Flights, which is expected to generate revenues of US$1,484.00m in 2024.
By 2029, the number of Public Transportation users is expected to reach 168.50m users.
The user penetration rate in Bangladesh is expected to be 95.0% in 2024 and is projected to increase to 95.0% by 2029.
The average revenue per user (ARPU) is expected to reach US$16.87.
Online sales are expected to contribute to 63% of the total revenue generated in the Shared Mobility market by 2029.
In global comparison, China is projected to generate the most revenue, with an expected revenue of US$365bn in 2024.
Shared mobility services, such as ride-sharing and bike-sharing, are gaining popularity in Bangladesh as a cost-effective and convenient transportation option in congested cities.

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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Analyst Opinion

The Shared Mobility market in Bangladesh has been experiencing significant growth in recent years.

Customer preferences: Customers in Bangladesh are increasingly opting for shared mobility services due to the convenience and cost-effectiveness they offer. With the rise of urbanization and traffic congestion in major cities, consumers are turning to shared mobility options as a more efficient way to commute. Additionally, the younger demographic in Bangladesh is more inclined towards using shared mobility services as they prioritize flexibility and sustainability in their transportation choices.

Trends in the market: One of the key trends in the Shared Mobility market in Bangladesh is the rapid adoption of ride-hailing services. Companies offering ride-hailing solutions have seen a surge in demand as more people choose to book rides through mobile applications. This trend is driven by the convenience of on-demand transportation and the ease of cashless transactions. Another emerging trend is the growth of bike-sharing services in urban areas, providing a sustainable and affordable transportation option for short trips.

Local special circumstances: Bangladesh's unique traffic conditions and infrastructure challenges have played a significant role in shaping the Shared Mobility market in the country. The densely populated cities and limited public transportation options have created a demand for alternative mobility solutions. Shared mobility services have filled this gap by offering flexible and accessible transportation choices to the population. Moreover, the government's initiatives to promote digital payments and technology adoption have further accelerated the growth of shared mobility services in Bangladesh.

Underlying macroeconomic factors: The growing middle-class population and increasing disposable income levels in Bangladesh have contributed to the expansion of the Shared Mobility market. As more people have access to smartphones and the internet, the penetration of shared mobility services has increased across different demographic segments. Additionally, the competitive landscape in the market has led to innovative offerings and competitive pricing strategies by service providers, further driving the growth of the shared mobility sector in Bangladesh.

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.