Shared Mobility - Honduras

Honduras

Honduras is expected to witness an increase in revenue in the Shared Mobility market.
It is projected that revenue in this market will reach US$314.90m in 2024, with an anticipated annual growth rate of 2.71%, leading to a market volume of US$359.90m by 2029.
The largest market in this market is Flights, which is expected to reach a market volume of US$115.30m by 2024.
Furthermore, the number of users in Public Transportation is expected to increase to 5.48m users by 2029.
The user penetration rate is expected to be 85.8% in 2024 and 92.2% by 2029.
The average revenue per user (ARPU) is predicted to be US$34.11.
Additionally, it is projected that 45% of total revenue in the Shared Mobility market will be generated through online sales by 2029.
It is worth noting that in comparison to other countries worldwide, China is expected to generate the highest revenue in this market, with a projected revenue of US$365bn in 2024.
Despite the challenges faced by the country's infrastructure, shared mobility in Honduras is gradually gaining popularity among urban consumers.

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.

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Analyst Opinion

The Shared Mobility market in Honduras is experiencing a steady growth trajectory, driven by changing customer preferences, evolving market trends, and unique local circumstances.

Customer preferences: Customers in Honduras are increasingly seeking convenient and cost-effective transportation options, leading to a rising demand for shared mobility services. The preference for on-demand transportation solutions that offer flexibility and affordability is fueling the adoption of shared mobility platforms in the country.

Trends in the market: One of the notable trends in the Shared Mobility market in Honduras is the rapid expansion of ride-hailing services, which are gaining popularity among urban commuters. The convenience of booking a ride through a mobile app and the availability of various vehicle options are attracting a growing number of customers to these platforms. Additionally, the integration of cashless payment methods and the focus on enhancing user experience are contributing to the overall growth of shared mobility services in the country.

Local special circumstances: Honduras has a unique transportation landscape characterized by challenges such as traffic congestion and limited public transportation infrastructure. In this context, shared mobility services offer a viable solution to address the transportation needs of the population, especially in urban areas. The flexibility of shared mobility options, combined with their ability to reduce traffic congestion and environmental impact, makes them an attractive choice for customers in Honduras.

Underlying macroeconomic factors: The development of the Shared Mobility market in Honduras is also influenced by macroeconomic factors such as increasing smartphone penetration, rising disposable incomes, and urbanization. As more Hondurans gain access to smartphones and the internet, the accessibility of shared mobility platforms expands, driving market growth. Moreover, the growing urban population in the country is creating a greater demand for efficient transportation solutions, further propelling the adoption of shared mobility services.

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.