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Car-sharing - Uganda

Uganda

Revenue in Uganda's Car-sharing market is forecasted to reach US$5.36m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 7.93%, leading to a projected market volume of US$7.85m by 2029.
By 2029, the number of users in Uganda's Car-sharing market is expected to reach 154.40k users.
User penetration is estimated to be 0.2% in 2024 and 0.3% by 2029.
The average revenue per user (ARPU) is projected to be US$54.09.
By 2029, 100% of the total revenue in the Car-sharing market will be generated through online sales.
When compared globally, the United States is expected to generate the highest revenue, amounting to US$2,986m in 2024.
Amidst the growing demand for efficient urban transportation solutions, car-sharing services in Uganda are gaining popularity among tech-savvy commuters.

Key regions: Europe, Germany, India, United States, Malaysia

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Analyst Opinion

The Car-sharing market in Uganda has been experiencing significant growth in recent years.

Customer preferences: Customers in Uganda are increasingly opting for car-sharing services due to the convenience and cost-effectiveness they offer. With the rise of urbanization and congestion in major cities like Kampala, more people are turning to car-sharing as a more efficient way to navigate the city.

Trends in the market: One of the key trends in the Ugandan car-sharing market is the emergence of local startups offering innovative solutions tailored to the needs of the population. These companies are leveraging technology to provide on-demand services, making it easier for customers to access shared vehicles at their convenience.

Local special circumstances: Uganda's unique market dynamics, such as a growing middle class with disposable income and an increasing focus on sustainability, are driving the growth of the car-sharing industry. Additionally, the government's efforts to improve infrastructure and reduce traffic congestion are creating a conducive environment for car-sharing services to thrive.

Underlying macroeconomic factors: The macroeconomic factors contributing to the development of the car-sharing market in Uganda include a stable economic growth rate and a young population that is tech-savvy and open to new mobility solutions. As disposable incomes rise and the cost of car ownership remains high, more consumers are turning to car-sharing as a practical alternative.

Methodology

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.