E-Scooter-sharing - Iceland | Statista Market Forecast

In Iceland, the E-Scooter-sharing market is expected to generate a revenue of US$792.30k by 2024.
The revenue is projected to grow annually at a rate of 5.46%, reaching US$1.03m by 2029.
Additionally, the number of users in this market is expected to increase to 45.52k users by 2029, with a user penetration of 10.4% in 2024 and 11.7% by 2029.
The average revenue per user (ARPU) is anticipated to be US$20.14.
It is projected that by 2029, online sales will account for 100% of total revenue in this market.
When compared globally, United States is expected to generate the highest revenue of US$730m in 2024.
Despite the harsh climate and small population of Iceland, E-Scooter-sharing is becoming increasingly popular among tourists in Reykjavik.

Definition:

The E-Scooter-sharing market comprises e-scooter-sharing services that provide short-term rentals of electric motorized scooters (stand-up scooters). In e-scooter-sharing, scooters are generally owned by an e-scooter-sharing provider and can be reserved independently by customers around the clock. Customers are required to open an account with the e-scooter-sharing provider and can then reserve the vehicles, typically with a smartphone app. Providers normally offer dockless services, so it is possible to find e-scooters everywhere within the provider’s business zone, e.g., on sidewalks, and to leave the scooters anywhere in accordance with traffic regulations. Moped-sharing services are not available in all countries; thus, only a limited number of countries and regions can be selected.

Additional Information:

The main performance indicators of the E-Scooter-sharing 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 mentioned market. 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.

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.

Free-floating e-scooter-sharing services
Services such as Lime, Tier, Bird, and Movo

Private e-scooter usage
Multi-day e-scooter rentals
Peer-to-peer e-scooter reservations
Bike sharing and other forms of micro-mobility

The E-Scooter-sharing market in Iceland has been experiencing significant growth in recent years, driven by various customer preferences, market trends, and local special circumstances.

Customer preferences: In Iceland, customers are increasingly drawn to the convenience and flexibility offered by E-Scooter-sharing services. The compact size and maneuverability of e-scooters make them an ideal mode of transportation for short trips in urban areas. Additionally, the environmentally friendly nature of e-scooters aligns with the growing concern for sustainable transportation options among customers in Iceland.

Trends in the market: One of the key trends in the E-Scooter-sharing market in Iceland is the integration of mobile applications and digital platforms. Customers can easily locate and unlock e-scooters using their smartphones, making the renting process seamless and efficient. This digitalization trend has not only enhanced the user experience but also allowed operators to collect valuable data on customer behavior and usage patterns, enabling them to optimize their operations and expand their services. Another trend in the market is the collaboration between E-Scooter-sharing companies and local municipalities. In Iceland, several cities have embraced e-scooters as a sustainable mode of transportation and have worked closely with operators to establish designated parking zones and implement regulations to ensure the safety of riders and pedestrians. This collaboration has created a favorable environment for the growth of the E-Scooter-sharing market in Iceland.

Local special circumstances: Iceland's unique geography and climate also contribute to the development of the E-Scooter-sharing market. The compact size of cities and the well-developed infrastructure make e-scooters an efficient and convenient mode of transportation for short trips. Additionally, the mild climate in Iceland allows for year-round usage of e-scooters, unlike in some other countries where extreme weather conditions may limit their usability.

Underlying macroeconomic factors: The growing popularity of E-Scooter-sharing in Iceland can also be attributed to favorable macroeconomic factors. The country has a high level of urbanization, with a significant proportion of the population residing in urban areas. This concentration of population creates a strong demand for efficient and sustainable transportation options. Furthermore, Iceland has a high disposable income per capita, which enables customers to afford the rental fees associated with E-Scooter-sharing services. In conclusion, the E-Scooter-sharing market in Iceland is experiencing growth due to customer preferences for convenience and sustainability, market trends such as digitalization and collaboration with local municipalities, local special circumstances including the geography and climate of the country, and underlying macroeconomic factors such as urbanization and high disposable income per capita. These factors collectively contribute to the development and expansion of the E-Scooter-sharing market in Iceland.

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.

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