Shared Mobility - Nordics

Nordics

The Shared Mobility market is expected to witness a surge in revenue in Nordics, with a projected revenue of US$23,610.00m by 2024.
Furthermore, it is predicted that the revenue will grow annually at a rate of 2.17% between 2024 and 2029, resulting in a market volume of US$26,290.00m in 2029.
Flights is the largest market of this market in the region, estimated to reach a market volume of US$8,035.00m by 2024.
In the Public Transportation market, the number of users is projected to reach 19,860.00k users by 2029.
The user penetration rate is expected to increase from 95.0% in 2024 to 95.0% in 2029.
The average revenue per user (ARPU) is expected to be around US$807.20.
By 2029, it is projected that 63% of the total revenue will come from online sales.
When compared globally, China is expected to generate the highest revenue of US$365bn in 2024.
In the Nordics, shared mobility services continue to gain popularity as environmentally-conscious consumers prioritize sustainable transportation options.

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 Nordics is witnessing a significant growth trajectory driven by changing consumer preferences, technological advancements, and environmental concerns.

Customer preferences: Customers in the Nordics are increasingly valuing convenience, sustainability, and cost-effectiveness when it comes to transportation options. Shared Mobility services such as ride-hailing, bike-sharing, and car-sharing are gaining popularity due to their flexibility and affordability. Consumers are also showing a growing preference for multi-modal transportation solutions that offer seamless integration between different modes of transport.

Trends in the market: One of the key trends in the Shared Mobility market in the Nordics is the rise of electric scooters as a popular mode of transportation, especially in urban areas. These eco-friendly and convenient vehicles are being widely adopted by tech-savvy consumers looking for efficient short-distance travel options. Additionally, the integration of mobility-as-a-service (MaaS) platforms is gaining traction, allowing users to access various transportation services through a single digital interface.

Local special circumstances: The unique geography and infrastructure of the Nordics play a significant role in shaping the Shared Mobility market in the region. With vast urban areas and well-developed public transportation systems, there is a strong foundation for shared mobility services to thrive. Moreover, the environmentally conscious mindset of Nordic consumers aligns well with the sustainability aspect of Shared Mobility, driving further adoption of these services.

Underlying macroeconomic factors: The strong economy and high disposable income levels in the Nordics contribute to the growth of the Shared Mobility market. Consumers in the region are willing to spend on convenient and sustainable transportation options, fueling the demand for shared mobility services. Additionally, government support through regulations promoting eco-friendly transportation solutions and investments in infrastructure further propels the development of the Shared Mobility market in the Nordics.

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.