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Key regions: United States, Saudi Arabia, Germany, Malaysia, India
Mexico's Shared Mobility market is experiencing significant growth and evolution, driven by various factors shaping consumer behavior and market dynamics.
Customer preferences: Customers in Mexico are increasingly valuing convenience, cost-effectiveness, and sustainability when it comes to transportation options. Shared Mobility services such as ride-hailing, bike-sharing, and scooter-sharing are gaining popularity due to their ability to offer on-demand transportation solutions at affordable prices. Additionally, the younger population in Mexico, particularly in urban areas, is more inclined towards using shared mobility services as they prioritize flexibility and ease of access over traditional car ownership.
Trends in the market: One noticeable trend in the Mexican Shared Mobility market is the increasing competition among service providers. As more companies enter the market, offering a variety of shared transportation options, customers are benefiting from increased choices and competitive pricing. Moreover, technological advancements and the widespread use of smartphones have facilitated the growth of shared mobility services, making it easier for customers to book rides or access shared vehicles with just a few taps on their devices. This trend is reshaping the transportation landscape in Mexico and driving further innovation in the sector.
Local special circumstances: Mexico's urban centers, such as Mexico City, face challenges related to traffic congestion, pollution, and limited parking spaces. In such a context, shared mobility services present a viable solution to alleviate these issues by promoting shared vehicle usage and reducing the overall number of cars on the road. Additionally, the cultural shift towards sustainable and eco-friendly modes of transportation is influencing more consumers to opt for shared mobility options that have a lower environmental impact compared to traditional private car usage.
Underlying macroeconomic factors: The macroeconomic landscape in Mexico, including factors such as urbanization, population growth, and increasing disposable incomes, plays a significant role in the development of the Shared Mobility market. As more people move to urban areas and seek efficient transportation solutions, shared mobility services become an attractive alternative to owning a car. Additionally, the flexibility offered by shared mobility options aligns with the changing work dynamics and lifestyle preferences of the Mexican population, further driving the demand for such services in the market.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)