Shared Mobility - Costa Rica

Costa Rica

The Shared Mobility market in Costa Rica is expected to experience substantial growth in the coming years.
By 2024, the projected revenue is set to reach US$807.60m, and this is expected to grow annually at a rate of 3.13%, resulting in a predicted market volume of US$942.20m by 2029.
It is worth noting that the largest market of this market is Flights, which is expected to reach a market volume of US$317.30m in 2024.
Additionally, it is expected that the number of users in the Public Transportation market will reach 3.49m users by 2029.
The user penetration of 86.2% in 2024 is projected increase to 94.4% by 2029.
The average revenue per user (ARPU) is expected to be US$178.50.
By 2029, 61% of the total revenue will be generated through online sales.
It is interesting to note that, in global comparison, China is predicted to generate the most revenue in this market, with a revenue projection of US$365bn in 2024.
Costa Rica's shared mobility market is growing as more tourists and locals turn to bike and scooter rentals to navigate the country's eco-friendly landscape.

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 Costa Rica is experiencing a significant growth trajectory driven by shifting consumer preferences, technological advancements, and evolving urban landscapes.

Customer preferences: Costa Rican consumers are increasingly valuing convenience, affordability, and sustainability in their transportation choices. This has led to a rising demand for shared mobility services such as ride-hailing, bike-sharing, and car-sharing. The flexibility and cost-effectiveness of these services appeal to a wide range of customers, from young urban professionals to environmentally-conscious individuals.

Trends in the market: One prominent trend in the Costa Rican Shared Mobility market is the integration of electric vehicles. As the country focuses on reducing carbon emissions and promoting sustainable practices, shared mobility providers are introducing electric scooters, bikes, and cars into their fleets. This not only aligns with customer preferences for eco-friendly options but also contributes to the overall green initiatives in the transportation sector.

Local special circumstances: Costa Rica's unique geography and tourism industry play a significant role in shaping the Shared Mobility market. With a growing number of tourists visiting the country each year, there is a demand for convenient and efficient transportation solutions within popular tourist destinations. Shared mobility services cater to this need by offering tourists a convenient way to explore the country without the hassle of owning a vehicle.

Underlying macroeconomic factors: The economic stability and steady growth in Costa Rica provide a favorable environment for the expansion of the Shared Mobility market. As disposable incomes rise and urbanization continues, more individuals are looking for cost-effective and reliable transportation options. Additionally, government support for sustainable initiatives and public transportation improvements further propels the growth of shared mobility services in the country.

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.