Shared Mobility - BRICS

BRICS

The Shared Mobility market in BRICS is expected to witness a significant rise in revenue, with a projected revenue of US$523,800.00m by 2024.
Moreover, the market is anticipated to grow annually at a rate of 4.55% from 2024 to 2029, resulting in a projected market volume of US$654,200.00m by 2029.
Notably, Flights is the largest market in the market, expected to reach a market volume of US$183,400.00m in 2024.
Additionally, the number of users in the Public Transportation market is projected to increase to 2,402.00m users by 2029.
The user penetration rate is expected to be 64.7% in 2024 and 74.8% by 2029.
The Average Revenue Per User (ARPU) is expected to be US$245.70.
By 2029, online sales are projected to contribute 71% of the total revenue in the Shared Mobility market.
Comparing globally, China is expected to generate the most revenue with a projected revenue of US$365bn in 2024.
India's shared mobility market is experiencing rapid growth, driven by the increasing popularity of ride-hailing apps and government support for electric vehicles.

Key regions: United States, Saudi Arabia, Germany, Malaysia, India

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

Region

Region comparison

Currency

Analyst Opinion

The Shared Mobility market in BRICS countries is witnessing significant growth and evolution, driven by changing customer preferences, unique local circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in BRICS countries are increasingly valuing convenience, affordability, and sustainability when it comes to transportation options. Shared mobility services such as ride-hailing, bike-sharing, and car-sharing are gaining popularity due to their flexibility and cost-effectiveness. The younger demographic, in particular, is more inclined towards shared mobility solutions as they seek convenient and on-demand transportation options.

Trends in the market: In Brazil, ride-hailing services are experiencing a surge in demand, especially in urban areas with high congestion levels. The convenience of booking a ride through a mobile app and the competitive pricing offered by ride-hailing companies are driving the market growth. Additionally, bike-sharing services are becoming popular in cities like Sao Paulo and Rio de Janeiro, promoting eco-friendly transportation alternatives. In Russia, car-sharing services are gaining traction as they provide a flexible and affordable way to commute in major cities like Moscow and St. Petersburg. The convenience of picking up and dropping off a car at different locations appeals to customers looking for short-term transportation solutions. Moreover, ride-hailing services are also on the rise, offering commuters a convenient way to navigate through busy city streets. In India, the Shared Mobility market is witnessing rapid expansion, fueled by the increasing penetration of smartphones and the growing digital payment ecosystem. Ride-hailing services are widely used across major cities, offering customers a safe and reliable mode of transportation. Additionally, bike-sharing and electric scooter services are gaining popularity, especially among the younger population looking for sustainable transportation options. In China, the Shared Mobility market is one of the most advanced and diverse in the world. With the presence of major ride-hailing companies and bike-sharing giants, customers have a wide range of options to choose from. The integration of artificial intelligence and big data analytics has further enhanced the efficiency of shared mobility services, providing customers with personalized and seamless transportation experiences.

Local special circumstances: Each BRICS country has its unique set of local circumstances that influence the Shared Mobility market. Factors such as infrastructure development, regulatory environment, cultural norms, and urbanization rates play a crucial role in shaping customer preferences and market trends. Understanding these local dynamics is essential for shared mobility companies to tailor their services and strategies effectively.

Underlying macroeconomic factors: The Shared Mobility market in BRICS countries is also influenced by macroeconomic factors such as GDP growth, disposable income levels, urbanization rates, and technological advancements. As the middle-class population expands and urbanization accelerates, the demand for convenient and cost-effective transportation solutions is expected to grow. Moreover, the increasing adoption of digital technologies and the rise of smart cities are driving the evolution of the Shared Mobility market in BRICS countries.

Methodology

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.