E-Scooter-sharing - South Korea | Statista Market Forecast

South Korea is expected to experience a significant surge in revenue within the E-Scooter-sharing market, with projections estimating a revenue of US$128.40m by 2024.
This projection is expected to grow annually at a rate of 4.79%, leading to a market volume of US$162.30m by 2029.
In terms of user numbers, the E-Scooter-sharing market is expected to have 8.82m users users by 2029, with a user penetration rate of 15.3% in 2024 and 17.2% by 2029.
The average revenue per user (ARPU) is expected to be around US$16.25.
By 2029, 100% of the total revenue in this market is expected to be generated through online sales.
In comparison to other countries, United States is projected to generate the highest revenue in the E-Scooter-sharing market, with an estimated revenue of US$730m in 2024.
South Korea is home to a highly competitive E-Scooter-sharing market, with major players expanding their fleets and services to meet growing demand.

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 South Korea has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to the development of this market. Customer preferences play a crucial role in the growth of the E-Scooter-sharing market in South Korea. The convenience and flexibility offered by e-scooters have attracted a large number of customers, especially in urban areas where traffic congestion is a major issue. With the increasing emphasis on sustainable transportation options, many customers are opting for e-scooters as an eco-friendly alternative to traditional modes of transportation. Additionally, the younger generation, who are more tech-savvy and open to new mobility solutions, are also driving the demand for e-scooter sharing services. Trends in the market have also contributed to the growth of the E-Scooter-sharing market in South Korea. The rise of the sharing economy has created a favorable environment for the expansion of e-scooter sharing services. Companies offering these services have been able to leverage technology to provide a seamless and efficient user experience. The integration of GPS and mobile apps has made it easier for customers to locate and unlock e-scooters, further enhancing the convenience factor. Moreover, the introduction of electric scooters has addressed concerns about noise pollution and emissions, making e-scooters a more attractive option for customers. Local special circumstances have played a role in shaping the E-Scooter-sharing market in South Korea. The country has a well-developed public transportation system, which has made it easier for e-scooter sharing companies to integrate their services into existing mobility networks. South Korea's compact urban areas and high population density have also contributed to the success of e-scooter sharing services, as they are particularly well-suited for short-distance trips within cities. Underlying macroeconomic factors have also influenced the growth of the E-Scooter-sharing market in South Korea. The country's strong economy and high smartphone penetration rate have created a conducive environment for the adoption of e-scooter sharing services. Furthermore, the government's support for sustainable transportation initiatives and the promotion of electric vehicles have provided a favorable regulatory framework for e-scooter sharing companies to operate in South Korea. In conclusion, the E-Scooter-sharing market in South Korea has experienced significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As the demand for sustainable and convenient transportation options continues to rise, the e-scooter sharing market is expected to further expand in South Korea.

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.