Shared Mobility - Estonia

Estonia

The Shared Mobility market in Estonia is expected to witness significant growth in the coming years.
By 2024, the projected revenue is estimated to be US$490.40m.
This growth is expected to continue, with a Compound Annual Growth Rate (CAGR) of 2.02% from 2024-2029, resulting in a projected market volume of US$542.00m by 2029.
Public Transportation is the largest of the Shared Mobility markets in Estonia and is expected to reach a projected market volume of US$224.50m by 2024.
The number of users in the Public Transportation market is expected to increase to 951.80k users by 2029.
As of 2024, the user penetration rate is 87.1%, which is expected to reach 95.0% by 2029 in the Shared Mobility market.
The average revenue per user (ARPU) is projected to be US$426.70.
E-commerce is expected to play a significant role in the growth of the Shared Mobility market in Estonia.
By 2029, 53% of the total revenue is expected to be generated through online sales.
In global comparison, China is expected to generate the most revenue in the Shared Mobility market, with a projected revenue of US$365bn in 2024.
Estonia's shared mobility market is dominated by bike-sharing services such as Bolt and Citybee, with increasing demand for electric scooters and cars.

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

Region comparison

Currency

Analyst Opinion

The Shared Mobility market in Estonia is experiencing significant growth and evolution.

Customer preferences: Customers in Estonia are increasingly valuing convenience, cost-efficiency, and sustainability when it comes to transportation options. Shared Mobility services such as ride-hailing, car-sharing, and bike-sharing are gaining popularity due to their flexibility and affordability compared to traditional car ownership.

Trends in the market: One prominent trend in the Estonian Shared Mobility market is the integration of various services into multi-modal platforms, allowing users to access different modes of transportation through a single app. This trend not only enhances the overall customer experience but also promotes the use of shared transportation options over private vehicles. Additionally, the market is witnessing a rise in electric scooter and bike-sharing services, catering to the growing demand for eco-friendly mobility solutions in urban areas.

Local special circumstances: Estonia's relatively small size and high population density in urban centers create a conducive environment for Shared Mobility services to thrive. The country's tech-savvy population and strong digital infrastructure further support the adoption of innovative mobility solutions. Moreover, the government's initiatives to reduce traffic congestion and carbon emissions are driving the development of Shared Mobility offerings in Estonia.

Underlying macroeconomic factors: The increasing urbanization and changing lifestyles in Estonia are influencing the way people perceive transportation, leading to a shift towards shared and on-demand mobility services. Furthermore, the rising awareness of environmental issues and the need for sustainable transportation solutions are shaping the growth of the Shared Mobility market in the country. Economic factors such as fluctuating fuel prices and the overall cost of car ownership also play a role in driving consumers towards shared transportation options.

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.