Shared Mobility - Bulgaria

Bulgaria

Bulgaria is projected to experience a substantial increase in revenue within the Shared Mobility market, with an estimated 2024 revenue of US$1,390.00m.
This revenue is expected to grow annually at a rate of 3.01%, resulting in a projected market volume of US$1,612.00m by 2029.
The largest market in this market is Flights, which is projected to reach a market volume of US$699.90m in 2024.
By 2029, the number of users in Public Transportation is expected to reach 4,695.00k users.
The current user penetration rate is 93.8%, and it is expected to increase to 95.0% by 2029.
The average revenue per user (ARPU) is projected to be US$223.90.
By 2029, it is expected that 68% of the total revenue in the Shared Mobility market will be generated through online sales.
It is interesting to note that when compared globally, China is expected to generate the most revenue in this sector, with an estimated revenue of US$365bn in 2024.
Shared mobility is gaining traction in Bulgaria as urban residents look for cost-effective and eco-friendly transportation options.

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

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Currency

Analyst Opinion

The Shared Mobility market in Bulgaria has been witnessing a steady growth in recent years, reflecting a shift in consumer behavior towards more flexible and sustainable transportation options.

Customer preferences: In Bulgaria, customers are increasingly valuing convenience, cost-effectiveness, and environmental sustainability when it comes to transportation choices. Shared Mobility services such as ride-hailing, car-sharing, and bike-sharing are gaining popularity among urban dwellers who seek efficient ways to commute without the hassle of owning a vehicle.

Trends in the market: One of the notable trends in the Shared Mobility market in Bulgaria is the rising adoption of e-scooter sharing services in major cities. This trend is driven by the convenience and affordability of e-scooters for short-distance trips, especially in congested urban areas where parking is limited. Additionally, the integration of digital platforms and mobile apps has made it easier for customers to access and pay for shared mobility services on the go.

Local special circumstances: Bulgaria's developing infrastructure and expanding urban population are contributing to the growth of the Shared Mobility market. The presence of universities and tech hubs in cities like Sofia and Plovdiv is also fueling demand for innovative transportation solutions among young, tech-savvy consumers. Moreover, the government's initiatives to promote sustainable urban mobility are creating a favorable environment for Shared Mobility service providers to expand their operations in the country.

Underlying macroeconomic factors: The economic stability and increasing disposable income levels in Bulgaria are enabling more consumers to afford alternative transportation options beyond traditional car ownership. As the cost of living rises and traffic congestion worsens in urban centers, Shared Mobility services are seen as practical solutions that offer flexibility and affordability to a growing segment of the population. Additionally, the growing awareness of environmental issues and the need to reduce carbon emissions are driving the adoption of eco-friendly transportation modes like bike-sharing and electric scooters in the country.

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.