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Key regions: United States, Saudi Arabia, Germany, Malaysia, India
The Shared Mobility market in Burkina Faso is experiencing significant growth and development driven by various factors.
Customer preferences: Customers in Burkina Faso are increasingly opting for shared mobility services due to the convenience, cost-effectiveness, and flexibility they offer. With the rise of urbanization and a growing middle class, there is a higher demand for efficient transportation solutions that shared mobility services can provide. Additionally, the younger population in the country is more open to embracing technological advancements and digital platforms for their transportation needs.
Trends in the market: One of the key trends in the Shared Mobility market in Burkina Faso is the expansion of ride-hailing services and motorcycle taxis. These services are gaining popularity as they offer a quick and convenient way for people to navigate through traffic-congested cities. Moreover, the integration of cashless payment systems and mobile applications has simplified the booking process, making shared mobility services more accessible to a larger population.
Local special circumstances: Burkina Faso's unique geographical and infrastructural challenges play a significant role in shaping the Shared Mobility market. The country's road networks are often underdeveloped, especially in rural areas, making traditional public transportation unreliable. Shared mobility services fill this gap by providing a more flexible and efficient mode of transportation for both urban and rural dwellers. Additionally, the informal nature of transportation in Burkina Faso has paved the way for shared mobility operators to establish innovative solutions tailored to the local needs.
Underlying macroeconomic factors: The economic growth and increasing disposable income levels in Burkina Faso have contributed to the expansion of the Shared Mobility market. As more people have the financial means to afford transportation services, the demand for shared mobility options continues to rise. Moreover, the government's efforts to promote a conducive business environment and regulatory framework have attracted investment in the transportation sector, further fueling the growth of shared mobility services 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.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)