Contact
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)
Key regions: United States, Saudi Arabia, Germany, Malaysia, India
The Shared Mobility market in Caribbean is experiencing a notable increase in demand, driven by changing customer preferences and local special circumstances.
Customer preferences: Customers in the Caribbean are increasingly looking for convenient and cost-effective transportation options. Shared Mobility services such as ride-hailing, bike-sharing, and car-sharing are gaining popularity due to their flexibility and affordability. Tourists, in particular, are embracing these services as a convenient way to explore the region without the need to rely on traditional transportation methods.
Trends in the market: In the Caribbean, the Shared Mobility market is witnessing a surge in bike-sharing services, especially in popular tourist destinations. This trend is fueled by the region's emphasis on eco-friendly initiatives and sustainable transportation solutions. Additionally, the rise of ride-hailing services is transforming the way locals and tourists commute, providing a convenient alternative to owning a car.
Local special circumstances: The unique geography of the Caribbean, with its numerous islands and diverse terrains, presents both challenges and opportunities for Shared Mobility providers. Companies in the region are innovating to cater to the specific needs of each island, offering tailored services that address the varying transportation demands. Additionally, the cultural diversity of the Caribbean influences the types of Shared Mobility services preferred in different countries, leading to a wide range of options available to consumers.
Underlying macroeconomic factors: The growth of the Shared Mobility market in the Caribbean is also influenced by macroeconomic factors such as increasing smartphone penetration and internet connectivity. The widespread use of mobile technology has made it easier for customers to access and utilize Shared Mobility services, driving adoption rates across the region. Furthermore, economic factors such as rising urbanization and changing consumer behavior are contributing to the expansion of the Shared Mobility market in the Caribbean.
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)