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Key regions: South America, Malaysia, India, Indonesia, Saudi Arabia
Bike-sharing services in Bahrain have been gaining popularity among residents and tourists alike, contributing to the development of the market in the country.
Customer preferences: Customers in Bahrain are increasingly looking for convenient and eco-friendly transportation options, which has led to a growing demand for bike-sharing services. The ease of access to bikes, coupled with the flexibility they offer in navigating urban areas, has made them a preferred choice for short-distance travel.
Trends in the market: One noticeable trend in the Bahraini bike-sharing market is the integration of technology to enhance user experience. Companies are investing in app-based platforms for easy bike rentals and payments, as well as GPS tracking systems for efficient bike locating. Additionally, the introduction of electric bikes has added a new dimension to the market, catering to a wider range of customers.
Local special circumstances: Bahrain's compact size and well-maintained infrastructure make it conducive to bike-sharing services. The flat terrain and pleasant weather for a large part of the year further encourage people to opt for cycling as a mode of transportation. Moreover, the government's initiatives to promote sustainable mobility have created a favorable environment for bike-sharing companies to thrive.
Underlying macroeconomic factors: The steady economic growth in Bahrain has increased disposable incomes, allowing more people to afford alternative transportation options like bike-sharing. Furthermore, the government's focus on reducing traffic congestion and promoting a healthy lifestyle aligns with the objectives of bike-sharing services, driving further growth in the market.
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)