Shared Mobility - Bolivia

Bolivia

Highlights

Bolivia's Shared Mobility market is predicted to experience remarkable growth in the coming years.
As per current estimates, the market's revenue is projected to soar up to US$741.40m in 2024, with an expected Compound Annual Growth Rate (CAGR 2024-2029) of 3.63%.
This growth trajectory is expected to result in a market volume of US$885.90m by 2029.
The largest market within Shared Mobility market is Flights, with a projected volume of US$395.50m in 2024.
By 2029, the number of users in the Public Transportation market is expected to rise to 7.26m users.
In 2024, the user penetration in Bolivia's Flights market is expected to be at 86.6%, a figure that is expected to increase to 93.2% by 2029.
Furthermore, the average revenue per user (ARPU) is estimated to be US$68.12.
An estimated 55% of the total revenue in the Shared Mobility market is expected to come from online sales by 2029.
It is worth noting that China is expected to generate the most revenue globally, with a projected revenue of US$365bn in 2024.
Despite being a developing country, Bolivia has seen a rise in shared mobility services due to the high cost of car ownership and limited public transportation options.

Key regions:

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 definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Shared Mobility market in Bolivia is experiencing a notable increase in demand and popularity among consumers.

Customer preferences: Bolivian customers are increasingly valuing the convenience and cost-effectiveness of shared mobility services. With a growing urban population and traffic congestion in major cities, consumers are turning to shared mobility options as a more efficient way to commute. Additionally, the younger generation is more inclined towards sustainable and eco-friendly transportation solutions, further driving the demand for shared mobility services in the country.

Trends in the market: One of the prominent trends in the Shared Mobility market in Bolivia is the expansion of ride-hailing services beyond major cities into smaller towns and rural areas. This trend is fueled by the need for reliable transportation options in regions where public transport may be limited. Moreover, the market is witnessing increased competition among different shared mobility providers, leading to innovative services and competitive pricing strategies to attract and retain customers.

Local special circumstances: Bolivia's unique geographical landscape, with diverse terrains and varying levels of urbanization, presents both challenges and opportunities for shared mobility providers. In urban centers like La Paz and Santa Cruz, where traffic congestion is a significant issue, there is a higher demand for shared mobility services. On the other hand, in more rural areas, providers need to adapt their services to cater to the specific transportation needs of the local population.

Underlying macroeconomic factors: The economic stability and growth in Bolivia play a crucial role in the development of the Shared Mobility market. As disposable incomes rise and the middle class expands, more consumers have the purchasing power to afford shared mobility services. Additionally, government initiatives to improve transportation infrastructure and regulations related to shared mobility are shaping the market dynamics in the country.

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.