Shared Mobility - Gambia

Gambia

The Shared Mobility market in Gambia is expected to experience an impressive growth in revenue.
By 2024, the revenue is projected to reach US$14.00m, with an annual growth rate of 4.08% from 2024 to 2029.
This growth is expected to result in a projected market volume of US$17.10m by 2029.
The largest market in Gambia is Public Transportation, with a projected market volume of US$9.86m in 2024.
By 2029, the number of users for Public Transportation is expected to amount to 2,541.00k users.
The user penetration rate, which is 85.3% in 2024, is expected to hit 95.0% by 2029.
The average revenue per user (ARPU) is expected to amount to US$5.78.
Furthermore, in the Shared Mobility market in Gambia, online sales are expected to generate 21% of total revenue by 2029.
It is worth noting that in a global comparison, China is expected to generate the most revenue in the Shared Mobility market, with US$365bn in 2024.
However, Gambia's growth rate in this market is certainly noteworthy.
Shared mobility is still a nascent concept in Gambia, but the government is taking steps to promote the sector and encourage its growth.

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

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Currency

Analyst Opinion

Shared Mobility in Gambia is experiencing a notable uptick in demand and adoption, reflecting a global trend towards more sustainable and convenient transportation options.

Customer preferences: Customers in Gambia are increasingly valuing flexibility, cost-effectiveness, and environmental sustainability when it comes to transportation choices. Shared Mobility services such as ride-hailing, bike-sharing, and car-sharing are gaining popularity due to their ability to provide on-demand transportation solutions at affordable prices. Moreover, the convenience of booking rides through mobile applications is appealing to tech-savvy consumers in the country.

Trends in the market: One of the prominent trends in the Shared Mobility market in Gambia is the growing presence of local startups offering innovative transportation solutions tailored to the needs of the population. These companies are leveraging technology to optimize routes, improve service quality, and enhance the overall customer experience. Additionally, strategic partnerships between Shared Mobility providers and local businesses are emerging as a way to expand service offerings and reach a broader customer base.

Local special circumstances: Gambia's unique geographic and demographic characteristics play a significant role in shaping the Shared Mobility market in the country. With a relatively small land area and a growing urban population, there is a demand for efficient and reliable transportation services to navigate congested city streets. Shared Mobility options address this need by offering convenient alternatives to traditional modes of transportation, thereby reducing traffic congestion and emissions in urban areas.

Underlying macroeconomic factors: The development of the Shared Mobility market in Gambia is also influenced by macroeconomic factors such as rising disposable incomes, urbanization, and increasing internet penetration. As more people move to urban centers and embrace digital technologies, the demand for flexible and on-demand transportation solutions is expected to continue growing. Moreover, the government's focus on sustainable development and green initiatives further supports the adoption of Shared Mobility services as part of the country's transportation ecosystem.

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.