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E-Scooter-sharing - Ecuador

Ecuador

According to the latest projections, the revenue in Ecuador's E-Scooter-sharing market is expected to hit US$121.00k by 2024, with an estimated annual growth rate (CAGR 2024-2029) of 1.18%.
This growth is anticipated to result in a market volume of US$128.30k by 2029.
Moreover, it is expected that by 2029, the number of users in this market will reach 7.32k users.
The user penetration rate is estimated to be 0.0% in 2024, which is expected to grow to 0.0% by 2029.
Additionally, the average revenue per user (ARPU) is projected to be US$17.31.
It is predicted that by 2029, a total of 100% of the revenue generated in the E-Scooter-sharing market in Ecuador will be through online sales.
In comparison to other countries, United States is expected to generate the highest revenue, with a projected revenue of US$730,200k in 2024.
Ecuador's E-Scooter-sharing market is gaining popularity among tourists in Quito and Guayaquil, leading to increased investment from local and foreign companies.

Key regions: China, Germany, Thailand, Saudi Arabia, India

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Analyst Opinion

The E-Scooter-sharing market in Ecuador has been experiencing significant growth in recent years. Customer preferences in the E-Scooter-sharing market in Ecuador are influenced by several factors. Firstly, the convenience and affordability of e-scooters make them an attractive option for short-distance travel in urban areas. Customers appreciate the ease of renting and using e-scooters, as well as the flexibility they offer in terms of travel routes and schedules. Additionally, the environmentally friendly nature of e-scooters appeals to customers who are concerned about reducing their carbon footprint. Trends in the market indicate that the demand for e-scooter-sharing services in Ecuador is increasing. This can be attributed to several factors. Firstly, the rapid urbanization and population growth in major cities have led to increased congestion and traffic congestion, making e-scooters a popular alternative to traditional modes of transportation. Secondly, the rise of the sharing economy and the increasing popularity of shared mobility options have contributed to the growth of the e-scooter-sharing market. Customers are increasingly embracing the concept of sharing resources and are willing to try new and innovative modes of transportation. Local special circumstances in Ecuador also play a role in the development of the e-scooter-sharing market. The country's warm climate and relatively flat terrain make it conducive for e-scooter usage. The compact size of e-scooters also makes them well-suited for navigating through narrow streets and crowded areas in cities. Furthermore, the government of Ecuador has shown support for sustainable transportation initiatives and has implemented policies and regulations to promote the use of e-scooters. Underlying macroeconomic factors have also contributed to the growth of the e-scooter-sharing market in Ecuador. The country's stable economic growth and increasing disposable income levels have made e-scooters more affordable and accessible to a wider range of customers. Additionally, advancements in technology and the availability of smartphone applications have made it easier for customers to locate, rent, and pay for e-scooters, further driving the growth of the market. In conclusion, the E-Scooter-sharing market in Ecuador is experiencing significant growth due to customer preferences for convenience, affordability, and environmental sustainability. The increasing demand for e-scooter-sharing services is driven by factors such as urbanization, the sharing economy, and government support for sustainable transportation initiatives. Local special circumstances, including the country's climate and terrain, also contribute to the market's development. Underlying macroeconomic factors, such as stable economic growth and technological advancements, further support the growth of the e-scooter-sharing market in Ecuador.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings and revenues of e-scooter-sharing services.

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.