Shared Mobility - Ghana

Ghana

Highlights

By 2024, the Shared Mobility market in Ghana is expected to generate a revenue of US$327.40m.
This revenue is projected to grow annually by a rate of 6.60%, resulting in a market volume of US$450.80m by 2029.
The largest market in the market is Public Transportation, with an expected market volume of US$163.00m in 2024.
The number of users in Public Transportation is expected to increase to 30.88m users by 2029.
The user penetration rate is expected to grow from 95.0% in 2024 to 95.0% by 2029.
The average revenue per user (ARPU) is projected to reach US$9.84.
By 2029, online sales are expected to account for 47% of the total revenue in the Shared Mobility market in Ghana.
When compared globally, China is projected to generate the most revenue in this market, amounting to US$365bn in 2024.
Shared mobility services are gaining popularity in Ghana due to increasing urbanization and the need for 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 Ghana is experiencing a significant growth trajectory driven by various factors.

Customer preferences: Customers in Ghana are increasingly valuing convenience, affordability, and sustainability when it comes to transportation options. Shared Mobility services such as ride-hailing, bike-sharing, and carpooling are gaining popularity among urban dwellers looking for efficient and cost-effective ways to navigate the bustling cities.

Trends in the market: One notable trend in the Shared Mobility market in Ghana is the rise of motorcycle taxis, also known as "okadas. " These two-wheeled vehicles provide a quick and flexible mode of transportation in congested urban areas, appealing to commuters looking to avoid traffic jams. Additionally, the integration of digital payment systems in Shared Mobility services is streamlining the booking and payment process, further enhancing the customer experience.

Local special circumstances: Ghana's rapidly growing urban population and expanding middle class are driving the demand for Shared Mobility services. With increasing smartphone penetration and improved internet connectivity, more Ghanaians have access to on-demand transportation options at their fingertips. Moreover, the government's efforts to improve road infrastructure and enhance road safety are creating a conducive environment for the growth of the Shared Mobility market in the country.

Underlying macroeconomic factors: The growing economy and rising disposable incomes in Ghana are fueling the demand for convenient transportation solutions. As more people move to urban areas in search of employment opportunities, the need for efficient and affordable mobility services continues to grow. Additionally, the competitive landscape of the Shared Mobility market in Ghana is attracting both local startups and international players, leading to innovation and service diversification to cater to the evolving needs of customers.

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.