Definition:
The Bike-sharing market includes short-term bike-sharing services. In bike-sharing services, bicycles are generally owned by a bike-sharing provider and are independently reserved by customers around the clock. Customers are required to open an account with the bike-sharing provider and can then reserve bicycles. This is usually done with a smartphone app, but there are also service providers that allow reservations to be made via the provider's website, by telephone, or at a terminal.
The two most frequently used bike-sharing varieties are the following: station-based (e.g., Stadtrad and Citi Bike New York) and free-floating (such as nextbike and ofo). With station-based bike-sharing, a bicycle is retrieved from a bike-sharing station and returned to either the same station or dropped off at another station. With free-floating bike-sharing, it is possible to find bicycles everywhere within the service provider's business zone and leave the bicycle anywhere in accordance with traffic regulations. Peer-to-peer bike-sharing is not included in the market definition of this market. Moped-sharing services are not available in all countries; thus, only a limited number of countries and regions can be selected.
Additional Information:
The main performance indicators of the Bike-sharing 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 mentioned market. 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.
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.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Mar 2023
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
The Bike-sharing market in Singapore has experienced significant growth in recent years, driven by changing customer preferences, market trends, and local special circumstances.
Customer preferences: Customers in Singapore have shown a strong preference for convenient and eco-friendly transportation options, which has contributed to the rise of bike-sharing services. With increasing concerns about traffic congestion and environmental sustainability, many people are opting for alternative modes of transportation, such as cycling. Bike-sharing offers a flexible and affordable solution for short-distance travel, allowing users to easily access bikes at various locations across the city.
Trends in the market: One of the key trends in the Bike-sharing market in Singapore is the adoption of dockless bike-sharing systems. Unlike traditional docked systems, where bikes are picked up and returned at designated stations, dockless systems allow users to park and lock bikes anywhere within a specified area. This flexibility has made bike-sharing more convenient and accessible, as users are not restricted by the availability of docking stations. Another trend in the market is the integration of bike-sharing services with mobile apps and digital platforms. Many bike-sharing companies in Singapore have developed user-friendly apps that allow customers to locate and unlock bikes, track their usage, and make payments seamlessly. This digital integration has enhanced the overall user experience and made bike-sharing more convenient and efficient.
Local special circumstances: Singapore's compact size and well-developed infrastructure make it an ideal market for bike-sharing. The city-state has a comprehensive network of cycling paths and park connectors, providing safe and convenient routes for cyclists. Additionally, Singapore's warm and tropical climate encourages outdoor activities, including cycling.
Underlying macroeconomic factors: The growth of the Bike-sharing market in Singapore is also influenced by underlying macroeconomic factors. The city-state has a high population density and a large number of residents who rely on public transportation for their daily commute. Bike-sharing offers a first and last-mile solution, bridging the gap between public transport stations and final destinations. Furthermore, the government's efforts to promote sustainable transportation and reduce car ownership have created a favorable environment for bike-sharing companies to thrive. In conclusion, the Bike-sharing market in Singapore has experienced significant growth due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The convenience, affordability, and eco-friendly nature of bike-sharing services have made them increasingly popular among Singaporeans. With the continued development of dockless systems and digital integration, the Bike-sharing market in Singapore is expected to further expand in the coming years.
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights