Shared Mobility - Kenya

Kenya

Kenya's Shared Mobility market is expected to witness a surge in revenue, with a projected amount of US$1,078.00m by 2024.
This revenue is expected to grow annually at a rate of 6.53%, resulting in a projected market volume of US$1,479.00m by 2029.
Public Transportation, being the largest market in the market, is projected to generate a market volume of US$426.50m by 2024.
By 2029, the number of Public Transportation users is expected to rise to 42.36m users.
In the Shared Mobility market, the user penetration rate is expected to increase from 64.2% in 2024 to 75.2% by 2029.
The Average Revenue Per User (ARPU) is expected to be around US$57.65.
Online sales are projected to generate 44% of total revenue in the Shared Mobility market by 2029.
In a global comparison, China is expected to generate the most revenue in the Shared Mobility market, with a projected amount of US$365bn in 2024.
In Kenya, the rise of ride-hailing services and motorcycle taxis is transforming the shared mobility market.

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 Kenya is experiencing a significant growth trajectory driven by several factors.

Customer preferences: Customers in Kenya are increasingly valuing convenience, affordability, and sustainability when it comes to transportation options. Shared mobility services such as ride-hailing, bike-sharing, and scooter-sharing are gaining popularity as they offer a cost-effective and efficient way to navigate the often congested urban areas in the country.

Trends in the market: One of the prominent trends in the Shared Mobility market in Kenya is the integration of technology. Companies offering shared mobility services are leveraging mobile apps for booking rides, making payments, and tracking vehicles in real-time. This technological advancement enhances the overall user experience and contributes to the growing adoption of shared mobility solutions. Moreover, the market is witnessing a rise in partnerships and collaborations between shared mobility providers and other stakeholders such as public transportation agencies and city governments. These partnerships aim to address transportation challenges, improve accessibility, and promote sustainable mobility solutions across different regions in Kenya.

Local special circumstances: Kenya's unique geographical landscape and urban infrastructure play a crucial role in shaping the Shared Mobility market in the country. With rapid urbanization and population growth in cities like Nairobi and Mombasa, there is a growing demand for efficient and reliable transportation options. Shared mobility services fill this gap by offering flexible and on-demand solutions that cater to the diverse needs of urban commuters. Furthermore, the presence of a young and tech-savvy population in Kenya contributes to the increasing adoption of shared mobility services. The convenience of booking a ride through a smartphone app and the flexibility to choose from various transportation modes resonate well with the preferences of the younger demographic in the country.

Underlying macroeconomic factors: The economic landscape in Kenya, characterized by a rising middle class and increasing disposable income, plays a significant role in driving the growth of the Shared Mobility market. As more people have access to smartphones and digital payment methods, the barriers to entry for shared mobility services are lowered, leading to a broader customer base and market expansion. Additionally, government initiatives aimed at promoting sustainable transportation and reducing traffic congestion further support the development of the Shared Mobility market in Kenya. By incentivizing shared mobility solutions and implementing regulatory frameworks to ensure safety and quality standards, the government creates an enabling environment for shared mobility providers to thrive and innovate in the market.

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.