Shared Mobility - GCC

The Shared Mobility market in GCC is expected to witness a significant growth in revenue in the coming years.
By 2024, the market's revenue is projected to reach US$21,810.00m.
Furthermore, the revenue is expected to grow annually at a rate of 4.43% (CAGR 2024-2029), leading to a projected market volume of US$27,090.00m by 2029.
It is noteworthy that the largest market in the Shared Mobility market is Flights, which is projected to have a market volume of US$12,840.00m in 2024.
Additionally, the number of users in the Ride-hailing market is expected to increase to 25,510.00k users by 2029.
The user penetration rate is expected to be 60.6% in 2024 and 67.2% by 2029.
The average revenue per user (ARPU) is expected to be US$596.20.
Moreover, it is predicted that 76% of the Shared Mobility market's total revenue will be generated through online sales by 2029.
Finally, in terms of global comparison, China is projected to generate the most revenue in the Shared Mobility market, with US$365bn in 2024.
In the GCC, the shared mobility market is rapidly growing and being driven by the increasing demand for affordable transportation options in urban areas.

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 GCC has been experiencing significant growth and evolution in recent years, reflecting changing consumer preferences and the unique characteristics of the region.

Customer preferences: Customers in the GCC region are increasingly valuing convenience, flexibility, and cost-effectiveness when it comes to transportation options. The demand for shared mobility services has been driven by a growing urban population, changing attitudes towards car ownership, and a desire for sustainable transportation solutions.

Trends in the market: In the GCC, the Shared Mobility market is witnessing a shift towards more diverse offerings, including ride-hailing services, car-sharing platforms, and bike-sharing programs. Consumers are showing a preference for on-demand services that can be accessed through mobile apps, allowing for seamless and efficient transportation experiences.

Local special circumstances: The GCC region is characterized by high levels of car ownership and a reliance on private vehicles for daily transportation needs. However, factors such as increasing traffic congestion, limited parking spaces, and government initiatives to promote sustainable mobility are driving the adoption of shared transportation services. Additionally, the transient nature of the population in some GCC countries, due to expatriate communities, is also influencing the demand for flexible and convenient mobility solutions.

Underlying macroeconomic factors: The economic diversification efforts in the GCC countries, along with investments in smart city initiatives and transportation infrastructure, are creating an enabling environment for the growth of the Shared Mobility market. Moreover, government regulations and policies aimed at reducing carbon emissions and promoting sustainable urban development are encouraging the uptake of shared transportation services. The increasing smartphone penetration and digital connectivity in the region are also facilitating the widespread adoption of shared mobility solutions among tech-savvy consumers.

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.