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Mon - Fri, 9am - 6pm (EST)
Key regions: South America, Malaysia, India, Indonesia, Saudi Arabia
The Bike-sharing market in Estonia has been experiencing significant growth in recent years.
Customer preferences: One of the main reasons for the growth in the Bike-sharing market in Estonia is the increasing preference for sustainable and eco-friendly transportation options. Customers in Estonia are becoming more conscious of their environmental impact and are actively seeking out greener alternatives for their daily commute. Bike-sharing services provide a convenient and affordable solution for short-distance travel, allowing customers to reduce their carbon footprint while also enjoying the health benefits of cycling.
Trends in the market: The Bike-sharing market in Estonia has witnessed a surge in the number of service providers and the availability of bikes across the country. This trend can be attributed to the growing popularity of bike-sharing among both locals and tourists. With the rise of smartphone usage, bike-sharing apps have made it easier than ever for customers to locate and rent bikes on the go. This convenience factor, coupled with the increasing number of bike lanes and infrastructure developments, has contributed to the rapid growth of the Bike-sharing market in Estonia.
Local special circumstances: Estonia has a unique geographical landscape that makes it well-suited for bike-sharing services. The country is known for its beautiful and picturesque landscapes, making it an attractive destination for cycling enthusiasts. Additionally, Estonia has a relatively small population and compact cities, which makes it easier for bike-sharing services to establish a strong presence and ensure the availability of bikes at convenient locations. The government of Estonia has also been supportive of sustainable transportation initiatives, providing incentives and subsidies for bike-sharing operators.
Underlying macroeconomic factors: The growth of the Bike-sharing market in Estonia is also influenced by certain macroeconomic factors. The country has a stable and prosperous economy, which has resulted in an increase in disposable income for its citizens. This has made bike-sharing services more affordable and accessible to a wider range of customers. Furthermore, the government's focus on sustainable development and reducing carbon emissions has created a favorable environment for bike-sharing operators to thrive. In conclusion, the Bike-sharing market in Estonia is experiencing significant growth due to customer preferences for sustainable transportation options, the availability of bike-sharing apps, the development of bike lanes and infrastructure, the unique geographical landscape of Estonia, and the country's stable economy. As the demand for eco-friendly transportation continues to rise, it is expected that the Bike-sharing market in Estonia will continue to expand in the coming years.
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)