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Key regions: South America, Malaysia, India, Indonesia, Saudi Arabia
The Bike-sharing market in Australia has experienced significant growth in recent years, driven by changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Customers in Australia are increasingly looking for convenient and sustainable transportation options. Bike-sharing provides an affordable and eco-friendly alternative to traditional modes of transportation such as cars or public transport. Additionally, the rise of health and wellness trends has also contributed to the growing popularity of bike-sharing, as people are looking for ways to incorporate physical activity into their daily routines.
Trends in the market: The Bike-sharing market in Australia has been influenced by several trends. One of the key trends is the increasing adoption of dockless bike-sharing systems. These systems allow users to locate and unlock bikes using a smartphone app, providing greater flexibility and convenience. This trend has been driven by advancements in technology and the growing popularity of mobile applications. Another trend in the market is the integration of bike-sharing with other modes of transportation. Many bike-sharing companies in Australia are partnering with public transport operators to provide seamless and integrated travel options. This allows users to easily switch between different modes of transportation, making bike-sharing a more attractive option for daily commuting.
Local special circumstances: Australia's urban centers, such as Sydney, Melbourne, and Brisbane, are densely populated and face traffic congestion issues. Bike-sharing offers a solution to these challenges by providing a flexible and efficient mode of transportation. Additionally, Australia's favorable climate and extensive network of bike lanes and paths make it an ideal market for bike-sharing.
Underlying macroeconomic factors: The growth of the Bike-sharing market in Australia is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth, which has led to an increase in disposable income and consumer spending. This has allowed more people to afford bike-sharing services and contribute to the market's growth. Furthermore, government initiatives and policies promoting sustainable transportation have also played a role in the development of the Bike-sharing market. Local governments in Australia have introduced bike-sharing programs and infrastructure improvements to encourage the use of bicycles as a means of transportation. These initiatives have created a supportive environment for bike-sharing companies to thrive. In conclusion, the Bike-sharing market in Australia has experienced significant growth due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As customers increasingly prioritize convenience, sustainability, and health, bike-sharing has emerged as a popular transportation option. The integration of technology, partnerships with public transport operators, and government support have all contributed to the market's expansion. With favorable conditions and a growing demand, the Bike-sharing market in Australia is expected to continue its upward trajectory.
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of bike-sharing services.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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)