Shared Mobility - Finland

Finland

Highlights

In Finland, the revenue of the Shared Mobility market is projected to reach US$4.83bn by 2024.
The market is expected to grow annually at a rate of 1.64%, resulting in a projected market volume of US$5.24bn by 2029.
The largest market in this market is Public Transportation, with a projected market volume of US$1.46bn in 2024.
By 2029, the number of users in the Public Transportation market is expected to reach 3.94m users.
In 2024, user penetration is expected to be 95.0%, and it is projected to increase to 95.0% by 2029.
The average revenue per user (ARPU) is expected to be US$785.00.
Looking ahead to 2029, 59% of the total revenue in the Shared Mobility market will be generated through online sales.
When compared globally, the highest revenue is expected to be generated in China, with US$365bn in 2024.
In Finland, shared mobility is increasingly popular due to the country's strong focus on sustainable transportation and the availability of government subsidies for electric vehicles.

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.

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Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Shared Mobility market in Finland has been witnessing significant growth and development in recent years.

Customer preferences: Customers in Finland are increasingly valuing convenience, flexibility, and sustainability when it comes to transportation options. Shared mobility services such as ride-hailing, car-sharing, and bike-sharing are becoming popular choices among consumers who prioritize cost-effective and eco-friendly modes of transportation.

Trends in the market: One prominent trend in the Finnish Shared Mobility market is the rise of electric scooters as a popular mode of transportation, especially in urban areas. The convenience and ease of use of electric scooters have made them a preferred choice for short-distance travel, contributing to the overall growth of the shared mobility sector in the country. Additionally, the integration of various shared mobility services into a single platform or app is gaining traction, providing customers with seamless access to different transportation options.

Local special circumstances: Finland's cold climate and vast geographical landscape present unique challenges and opportunities for the Shared Mobility market. The seasonal variations and harsh winter conditions require shared mobility service providers to adapt their offerings to ensure operational efficiency and customer satisfaction throughout the year. Additionally, the country's well-developed infrastructure and tech-savvy population create a conducive environment for the growth of shared mobility services, fostering innovation and competition in the market.

Underlying macroeconomic factors: The growing emphasis on sustainability and environmental conservation in Finland is driving the demand for shared mobility solutions that reduce carbon emissions and promote greener transportation alternatives. Government initiatives and policies supporting sustainable mobility practices further stimulate the expansion of the Shared Mobility market in the country. Moreover, the increasing urbanization and changing demographics in Finland are reshaping the way people commute and travel, leading to a growing preference for shared mobility services that offer convenience and flexibility in meeting transportation needs.

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.