Shared Mobility - Eastern Asia

Eastern Asia

Highlights

The Shared Mobility market in Eastern Asia is expected to witness a significant growth in the coming years.
It is projected that the revenue in this market will reach a staggering amount of US$445.30bn in 2024.
Moreover, the market is expected to exhibit a Compound Annual Growth Rate (CAGR) of 3.87% between 2024 and 2029, which will result in a significant market volume of US$538.50bn by 2029.
The Flights market is expected to be the largest in the market, with a projected market volume of US$143.50bn in 2024.
The number of users in the Public Transportation market is expected to reach 1.03bn users by 2029.
Furthermore, the user penetration rate is expected to increase from 89.2% in 2024 to 95.0% by 2029.
The average revenue per user (ARPU) is projected to be US$305.40 in this market, indicating a considerable revenue generation per user.
Additionally, it is estimated that 71% of the total revenue in this market will be generated through online sales by 2029.
In terms of global comparison, it is expected that China will generate the most revenue in the Shared Mobility market, with a projected revenue of US$365bn in 2024.
This is a clear indication of the potential for growth and development in the Shared Mobility market in Eastern Asia.
In Japan, shared mobility providers are expanding beyond major cities to meet the growing demand for convenient and affordable transportation options.

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 Eastern Asia is witnessing a significant rise in demand and innovation, driven by changing customer preferences, unique local circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in Eastern Asia are increasingly valuing convenience, cost-effectiveness, and sustainability when it comes to transportation options. Shared mobility services such as ride-hailing, bike-sharing, and car-sharing are becoming popular choices among urban dwellers who seek flexible and efficient ways to move around crowded cities. The convenience of booking a ride or renting a vehicle through mobile apps is particularly appealing to tech-savvy consumers in this region.

Trends in the market: In China, the largest market in Eastern Asia, the Shared Mobility sector is dominated by companies like Didi Chuxing and Meituan Dianping, offering a wide range of services from ride-hailing to bike-sharing. The country's supportive regulatory environment and robust digital infrastructure have fostered the rapid growth of these services. In Japan, the market is seeing a shift towards more sustainable modes of transportation, with an increasing number of commuters opting for electric scooters and bicycles for short trips. South Korea is experiencing a surge in the popularity of car-sharing services, especially among young urban professionals who prefer access to vehicles without the burden of ownership.

Local special circumstances: Eastern Asia's dense population centers, traffic congestion, and limited parking space are driving the adoption of shared mobility solutions as viable alternatives to traditional private car ownership. In cities like Tokyo, Seoul, and Shanghai, where space is at a premium, shared mobility services offer a practical and efficient way to navigate the urban landscape. Additionally, cultural factors such as a preference for communal living and sustainability are influencing consumers to embrace shared transportation options as part of a more eco-conscious lifestyle.

Underlying macroeconomic factors: The rapid urbanization and economic growth in Eastern Asia have led to an increase in disposable income and a burgeoning middle class with a higher demand for mobility solutions. As more people migrate to cities for employment opportunities, the need for efficient and affordable transportation services has become paramount. Moreover, government initiatives aimed at reducing traffic congestion, pollution, and carbon emissions are driving the expansion of shared mobility services across the region. The combination of evolving customer preferences, local circumstances, and macroeconomic trends is shaping the Shared Mobility market in Eastern Asia into a dynamic and competitive landscape.

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.