Car-sharing - Georgia | Statista Market Forecast

By 2024, the Car-sharing market in Georgia is projected to earn a revenue of US$596.40k.
Furthermore, the market is expected to grow at an annual growth rate (CAGR 2024-2029) of 7.32%, resulting in a projected market volume of US$849.10k by 2029.
The number of users in the Car-sharing market is expected to reach 29.27k users by 2029, with a user penetration of 0.6% in 2024 and 0.8% by 2029.
The average revenue per user (ARPU) is projected to be US$27.06.
It is expected that 85% of the total revenue generated in this market will come from online sales by 2029.
In comparison with other countries, United States is projected to generate the most revenue with US$3bn in 2024.
Despite the limited availability of car-sharing services, Georgia's urban population shows growing interest in sustainable transportation alternatives.

Definition:

The Car-sharing market encompasses car-sharing services. Car-sharing service providers own the vehicles that customers can book independently at any time. Customers need to enter into a contract with the service provider in order to be able to book vehicles via a smartphone app, the website of the service provider, or by telephone. The vehicle is usually opened via smartphone or a chip card. Some service providers, however, provide the car key in a key safe at the car-sharing station. Prices are calculated per minute or hour, with the money being debited from the customer's bank account. Peer-to-peer car-sharing is not included in this market. Car-sharing services are not available in all countries; thus, only a limited number of countries and regions can be selected.

Additional Information:

The main performance indicators of the Car-sharing 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 mentioned market. 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.

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.

Free-floating car sharing bookings
Station-based car sharing bookings
Companies offering a combination of free-floating and station-based car sharing
Services such as Share Now, Sixt Share, or Enterprise CarShare

Peer-to-peer car sharing bookings
Rental car booking
Taxi services
Carpools
Ride hailing services

The Car-sharing market in Georgia is experiencing significant growth and development.

Customer preferences: Customers in Georgia are increasingly opting for car-sharing services due to their convenience and cost-effectiveness. Car-sharing allows individuals to access a vehicle when needed, without the hassle of owning a car. This is particularly appealing to urban dwellers who may not need a car on a daily basis, but still require occasional access to one. Additionally, car-sharing services often offer a variety of vehicle options, allowing customers to choose the most suitable option for their specific needs.

Trends in the market: One of the key trends in the car-sharing market in Georgia is the rise of peer-to-peer car-sharing platforms. These platforms connect vehicle owners with individuals in need of a car, providing a more affordable and flexible car-sharing option. This trend is driven by the increasing popularity of the sharing economy and the desire for individuals to monetize their underutilized assets, such as their cars. Peer-to-peer car-sharing platforms also offer a wider range of vehicle options, as they are not limited to a fleet of company-owned vehicles. Another trend in the car-sharing market in Georgia is the integration of car-sharing services with other modes of transportation. Many car-sharing companies are partnering with public transportation providers, allowing customers to seamlessly switch between different modes of transport. This integration not only enhances the convenience of car-sharing services but also promotes the use of sustainable transportation options.

Local special circumstances: Georgia is experiencing rapid urbanization, with a growing number of people moving to cities for better job opportunities and improved quality of life. This urbanization trend has led to increased congestion and parking difficulties in cities, making car-sharing an attractive alternative to car ownership. Additionally, the high cost of owning a car, including insurance, maintenance, and parking fees, makes car-sharing a more affordable option for many individuals.

Underlying macroeconomic factors: The growing car-sharing market in Georgia is also influenced by macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has allowed more individuals to afford car-sharing services and contribute to the growth of the market. Additionally, the government of Georgia has been supportive of sustainable transportation initiatives, including car-sharing, by implementing policies and regulations that promote the use of shared mobility options. In conclusion, the car-sharing market in Georgia is thriving due to customer preferences for convenience and cost-effectiveness. The rise of peer-to-peer car-sharing platforms and the integration of car-sharing services with other modes of transportation are key trends in the market. The local circumstances of rapid urbanization and high car ownership costs further drive the demand for car-sharing services. The underlying macroeconomic factors of economic growth and government support also contribute to the development of the car-sharing market in Georgia.

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.