Shared Mobility - Dominican Republic

Dominican Republic

The Shared Mobility market is poised to experience significant growth in the Dominican Republic, with projected revenue reaching US$1,055.00m by 2024.
This growth is expected to continue with an annual growth rate of 5.40% from 2024 to 2029, resulting in a projected market volume of US$1,372.00m by 2029.
The Public Transportation market is the largest within the market, with a projected volume of US$429.60m by 2024.
By 2029, the number of users in the Public Transportation market is expected to amount to 7,907.00k users
Currently, user penetration is at 78.7% in 2024 and is expected to be 91.6% by 2029.
The average revenue per user (ARPU) is expected to be US$117.20, indicating a high level of profitability for businesses operating within this market.
Additionally, it is projected that 58% of total revenue in the Shared Mobility market will be generated through online sales by 2029.
Finally, in terms of global comparison, China is expected to generate the most revenue within the Shared Mobility market, with projected revenue of US$365bn in 2024.
Shared mobility services, such as car sharing and bike sharing, are still largely underdeveloped in the Dominican Republic.

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

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Analyst Opinion

The Shared Mobility market in Dominican Republic is experiencing significant growth and evolution as more consumers in the country are embracing alternative transportation options.

Customer preferences: Consumers in Dominican Republic are increasingly valuing convenience, affordability, and sustainability when it comes to transportation choices. Shared Mobility services such as ride-hailing, bike-sharing, and scooter-sharing are becoming popular among individuals looking for flexible and cost-effective ways to travel within urban areas.

Trends in the market: One of the notable trends in the Shared Mobility market in Dominican Republic is the increasing adoption of electric vehicles in shared transportation services. This trend aligns with global efforts to reduce carbon emissions and promote environmentally friendly practices. Additionally, the market is witnessing a rise in the integration of digital platforms and mobile applications, making it easier for customers to access and use shared mobility services.

Local special circumstances: The unique geography of Dominican Republic, with its mix of urban centers and tourist destinations, plays a role in shaping the Shared Mobility market in the country. Urban areas with high population density are experiencing a higher demand for shared transportation services, while tourist hubs are seeing a surge in short-term rental options like scooters and bicycles. Moreover, the government's efforts to improve infrastructure and regulate the transportation sector are influencing the development of Shared Mobility services in the country.

Underlying macroeconomic factors: The economic growth and increasing disposable income levels in Dominican Republic are contributing to the expansion of the Shared Mobility market. As more people have the financial means to choose convenient transportation options, the demand for shared mobility services is expected to continue rising. Additionally, the growing trend of urbanization and congestion in major cities is driving the need for efficient and sustainable transportation solutions, further fueling the growth of the Shared Mobility market 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.