Shared Mobility - Cuba

Cuba

Highlights

The Shared Mobility market in Cuba is expected to witness significant growth in the coming years.
By 2024, the projected revenue in this market is estimated to reach US$22.64m, with an anticipated CAGR of -1.00% between 2024 and 2029.
This growth is expected to result in a market volume of US$21.53m by 2029.
The largest market within the Shared Mobility market in Cuba is Public Transportation, with a projected market volume of US$10.75m in 2024.
The number of users in the Public Transportation market is expected to grow to 5.99m users by 2029.
The user penetration rate of 93.2% in 2024 is expected to reach 93.0% by 2029.
The average revenue per user (ARPU) is expected to be US$2.17.
By 2029, online sales are expected to generate 52% of the total revenue in the Shared Mobility market in Cuba.
In terms of global comparison, China is projected to generate the highest revenue, with US$365bn in 2024.
Despite its limited resources, Cuba's government-led shared mobility initiatives, such as bike and taxi co-ops, reflect the country's unique approach to sustainable transportation.

Key regions:

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 definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Shared Mobility market in Cuba is experiencing a gradual but steady growth in recent years.

Customer preferences: Customers in Cuba are increasingly seeking convenient and cost-effective transportation options, which has led to a rise in demand for shared mobility services. The younger population, in particular, is more inclined towards flexible and on-demand transportation solutions rather than traditional ownership models.

Trends in the market: One of the key trends in the Shared Mobility market in Cuba is the emergence of ride-sharing services that connect drivers with passengers through digital platforms. This trend aligns with the global shift towards shared transportation and reflects the growing popularity of app-based services in the country. Additionally, the introduction of electric scooters and bicycles for short-distance travel is gaining traction among urban commuters.

Local special circumstances: Cuba's unique socio-economic and political landscape has influenced the development of the Shared Mobility market in the country. The government's restrictions on private vehicle ownership have created a gap in the transportation sector, which shared mobility services are filling. Moreover, the tourism industry in Cuba is a significant driver of shared mobility, with visitors often opting for convenient and affordable transportation options during their stay.

Underlying macroeconomic factors: The gradual opening up of the Cuban economy and the increasing connectivity to the global market have played a role in shaping the Shared Mobility market. As the country undergoes economic reforms and experiences growth in tourism, there is a growing need for efficient transportation solutions. Additionally, the infrastructure development in urban areas to support shared mobility services is a crucial factor driving the market forward.

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.