Shared Mobility - Nicaragua

Nicaragua

Highlights

Nicaragua is expected to see a rise in revenue for the Shared Mobility market, with a projected amount of US$149.70m in 2024.
This revenue is expected to grow annually at a rate of 3.82%, resulting in a projected market volume of US$180.60m by 2029.
The largest market in this market is Flights, with a projected market volume of US$51.32m in 2024.
By 2029, it is expected that the number of Public Transportation users will reach 3.47m users.
The user penetration in Nicaragua for Flights is projected to be 45.9% in 2024 and is expected to hit 49.0% by 2029.
The average revenue per user (ARPU) is projected to be US$45.68.
In Nicaragua's Shared Mobility market, it is expected that 57% of the total revenue will be generated through online sales by 2029.
When compared globally, it is projected that the highest revenue will be generated in China, with an amount of US$365bn in 2024.
Shared mobility services, such as bike-sharing and carpooling, are gaining popularity in Nicaragua as a sustainable and cost-effective transportation solution.

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 Nicaragua is witnessing a gradual but steady growth in recent years.

Customer preferences: Customers in Nicaragua are increasingly valuing convenience and cost-effectiveness when it comes to transportation options. Shared mobility services offer a flexible and affordable alternative to traditional modes of transportation, catering to the needs of a population looking for efficient ways to commute.

Trends in the market: One of the prominent trends in the Shared Mobility market in Nicaragua is the rise of ride-sharing services, which provide a platform for individuals to share rides and split costs. This trend is gaining popularity due to its ability to reduce traffic congestion and lower carbon emissions. Additionally, bike-sharing services are also becoming more prevalent in urban areas, promoting a healthier and more sustainable mode of transportation.

Local special circumstances: Nicaragua's unique geographical landscape, with a significant portion of the population residing in urban centers, contributes to the growing demand for shared mobility services. The increasing urbanization trend is driving the need for efficient transportation solutions, making shared mobility options an attractive choice for residents in congested cities.

Underlying macroeconomic factors: The economic landscape in Nicaragua, with a focus on cost-saving measures and sustainability, is influencing the growth of the Shared Mobility market. As disposable incomes remain relatively stable, consumers are seeking affordable transportation alternatives without compromising on quality or convenience. This shift in consumer behavior is propelling the expansion of shared mobility services across the country.

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.