Shared Mobility - Madagascar

Madagascar

Highlights

Madagascar is expected to witness a significant growth in the revenue of its Shared Mobility market, which is projected to reach US$125.50m by 2024.
The market is expected to register a Compound Annual Growth Rate (CAGR) of 6.08% between 2024 and 2029, resulting in a market volume of US$168.50m by 2029.
Among the different Shared Mobility markets, Public Transportation is the largest, with a projected market volume of US$38.10m in 2024.
By 2029, the number of users in the Public Transportation market is expected to reach 17.19m users.
In 2024, the user penetration rate is estimated to be 57.2%, which is expected to increase to 66.4% by 2029.
The average revenue per user (ARPU) is expected to be US$7.06.
By 2029, 51% of the total revenue in the Shared Mobility market is expected to be generated through online sales.
In terms of global comparison, China is expected to generate the highest revenue of US$365bn in 2024.
Madagascar's shared mobility market is still nascent, with informal carpooling and taxi-brousse services dominating the sector.

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.

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Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Shared Mobility market in Madagascar is experiencing a gradual but steady growth, reflecting the increasing demand for flexible and cost-effective transportation solutions in the country.

Customer preferences: Customers in Madagascar are showing a growing preference for shared mobility services due to factors such as convenience, affordability, and environmental consciousness. With the rising urbanization and traffic congestion in major cities like Antananarivo, more people are opting for shared mobility options like ride-hailing services and bike-sharing platforms.

Trends in the market: In Madagascar, the Shared Mobility market is witnessing a trend towards the adoption of technology-driven solutions. Mobile apps for booking rides and making payments are becoming increasingly popular among consumers, making it easier for them to access and use shared transportation services. Additionally, the market is seeing a rise in partnerships between shared mobility providers and local businesses, further expanding the reach and availability of these services.

Local special circumstances: Madagascar's unique geographical and infrastructural challenges play a significant role in shaping the Shared Mobility market in the country. With limited public transportation options and inadequate road networks in certain regions, shared mobility services fill a crucial gap in the transportation ecosystem. Moreover, the cultural emphasis on community and sharing also contributes to the acceptance and growth of shared mobility solutions among the population.

Underlying macroeconomic factors: The economic landscape of Madagascar, including factors such as income levels, employment opportunities, and government regulations, influences the development of the Shared Mobility market. As the country continues to address economic challenges and improve infrastructure, the demand for efficient and affordable transportation solutions is expected to drive further growth in the shared mobility sector. Additionally, external factors like global trends in urban mobility and sustainability also impact the direction of the market in Madagascar.

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.