Shared Mobility - Central America

Central America

Central America is expected to witness a surge in the revenue of Shared Mobility market, which is expected to reach US$3,521.00m by 2024.
The revenue is projected to grow annually by 2.89%, resulting in a market volume of US$4,060.00m by 2029.
The largest market in this market is Flights, with a projected market volume of US$1,484.00m in 2024.
By 2029, the number of users in the Public Transportation market is expected to reach 27.77m users.
The user penetration rate is 87.0% in 2024, which is expected to increase to 93.3% by 2029.
The average revenue per user (ARPU) is expected to be US$76.62.
By 2029, 56% of the total revenue in this market will be generated through online sales.
In comparison with other countries, China is forecasted to generate the most revenue, amounting to US$365bn in 2024.
In Central America, the shared mobility market is growing rapidly, particularly in Costa Rica where the government is actively promoting sustainable transportation options.

Key regions: United States, Saudi Arabia, Germany, Malaysia, India

Definition:

The Shared Mobility market encompasses a diverse range of long- and short-distance mobility services. As the world moves towards a more connected and digital era, the Shared Mobility market is central to driving innovation, collaboration, and the development of intelligent transportation systems.

Structure:

The market consists of eleven further markets. These include the following markets:

The Car Rentals market contains vehicle rentals that have been booked in person, by telephone via the internet or an app.
The Car-sharing market includes professionally run car-sharing services that provide on-demand access vehicles, allowing users to rent cars for short periods, e.g., by minute or hour.
The Bike-sharing market contains short-term bike-sharing services. Bicycles can be found in the provider’s business zone where they are either parked at designated stations or freely distributed without fixed docks.
The Ride-hailing market encompasses on-demand transportation services facilitated through mobile apps or online platforms. This market covers both private vehicle rides and taxi services, all booked exclusively online.
The Taxi market covers exclusively traditional taxi services booked offline, typically via street hailing or phone calls.
The Flights market contains air travel bookings regardless of the purchase channel, such as an airline's website or a travel agency.
In the Public Transportation market, revenues generated by ticket sales from public transportation companies are considered.

Additional Information:

The main performance indicators of the Shared Mobility 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 above-mentioned markets. 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. Additional definitions for each market can be found within the respective market pages.

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.

Market

Region

Region comparison

Currency

Analyst Opinion

The Shared Mobility market in Central America is experiencing significant growth and evolution in recent years.

Customer preferences: Customers in Central America are increasingly looking for convenient and cost-effective transportation options, which has fueled the demand for shared mobility services. The flexibility and ease of access to shared mobility solutions appeal to a wide range of customers, including tech-savvy millennials and environmentally conscious individuals.

Trends in the market: In countries like Costa Rica and Panama, ride-hailing services have gained popularity as they offer a convenient alternative to traditional taxis. Additionally, bike-sharing and scooter-sharing services are becoming more prevalent in urban areas, catering to the growing demand for sustainable transportation options. The market is also witnessing the emergence of carpooling platforms, addressing the need for affordable commuting solutions.

Local special circumstances: Central America's unique geographical and infrastructural challenges, such as traffic congestion and limited public transportation options, have created a conducive environment for shared mobility services to thrive. The region's growing urbanization and expanding middle class further contribute to the increasing adoption of shared mobility solutions.

Underlying macroeconomic factors: Economic factors, such as rising disposable incomes and changing consumer preferences, play a significant role in the development of the Shared Mobility market in Central America. Moreover, government initiatives to promote sustainable transportation and reduce carbon emissions are driving the growth of shared mobility services across the region. The competitive landscape is also evolving, with both local startups and international companies entering the market to capitalize on the growing demand for shared mobility solutions.

Methodology

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.