Key regions: Europe, Germany, India, United States, Malaysia
The Car-sharing market in Estonia has been experiencing significant growth in recent years.
Customer preferences: One of the main reasons for the growth of the Car-sharing market in Estonia is the changing preferences of customers. People are becoming more conscious of the environmental impact of traditional car ownership and are opting for more sustainable transportation options. Car-sharing provides a convenient and cost-effective alternative to owning a car, allowing individuals to access a vehicle only when they need it.
Trends in the market: The Car-sharing market in Estonia has seen a rise in the number of players entering the market. This increased competition has led to more options for consumers, with different car-sharing platforms offering various services and pricing models. Additionally, the market has witnessed a shift towards electric and hybrid vehicles, as car-sharing companies aim to reduce their carbon footprint and attract environmentally conscious customers.
Local special circumstances: Estonia's small size and well-developed public transportation system make it an ideal market for car-sharing. The country's compact cities and efficient public transportation networks make it easy for people to rely on car-sharing for their transportation needs. Additionally, Estonia has a tech-savvy population, which has embraced the use of smartphone apps to book and access car-sharing services.
Underlying macroeconomic factors: Estonia's strong economy and high rate of urbanization have contributed to the growth of the Car-sharing market. As more people move to urban areas, the demand for convenient and flexible transportation options increases. Car-sharing provides a solution to the challenges of urban mobility, allowing people to access a vehicle when needed without the hassle of car ownership. In conclusion, the Car-sharing market in Estonia is growing due to changing customer preferences, increased competition, and the country's unique characteristics. The market is expected to continue to expand as more people recognize the benefits of car-sharing and as technology continues to advance in the transportation sector.
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of car-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.
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