Shared Mobility - North America

North America

Highlights

The Shared Mobility market, which is an emerging market that offers various transportation options to users, is expected to see a significant rise in revenue in North AmeriBased on the projection, the revenue in this market is estimated to reach US$359.10bn by 2024, with an annual growth rate of 1.98% between the years 2024 to 2029.
This growth is expected to result in a projected market volume of US$396.10bn by 2029.
The largest market of the Shared Mobility market in North America is Flights, which is expected to generate a market volume of US$163.40bn in 2024.
Additionally, the number of users in the Public Transportation market is expected to reach 244.90m users by 2029.
The user penetration rate in this market is 80.8% in 2024 and is expected to increase to 84.8% by 2029.
Furthermore, the average revenue per user (ARPU) is expected to be US$870.70.
In terms of sales, the online platform is predicted to generate 76% of the total revenue by 2029.
Lastly, when compared globally, China is projected to generate the most revenue in this market, with US$365bn in 2024.
In North America, the shared mobility market is rapidly growing with the rise of electric scooters and bike-sharing programs in major cities.

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 North America has been experiencing significant growth and evolution in recent years.

Customer preferences: Customers in North America are increasingly seeking convenient and cost-effective transportation options, leading to a rise in the popularity of shared mobility services. The desire for flexibility and sustainability is driving individuals to choose shared mobility over traditional modes of transportation.

Trends in the market: In North America, the Shared Mobility market is witnessing a trend towards the integration of various modes of transportation within a single platform. This trend is driven by the need for seamless and efficient travel experiences. Additionally, there is a growing emphasis on electric and autonomous vehicles in shared mobility services, aligning with the region's focus on sustainability and innovation.

Local special circumstances: North America's vast geographical expanse and diverse urban landscapes contribute to the unique development of the Shared Mobility market in different cities and regions. For instance, densely populated urban centers like New York City may see a higher demand for short-term shared mobility solutions, while sprawling metropolitan areas like Los Angeles may prioritize ride-sharing services for longer distances.

Underlying macroeconomic factors: The economic prosperity and technological advancement in North America play a significant role in shaping the Shared Mobility market. The presence of major tech companies and startups in the region has fostered innovation in shared mobility services, leading to a wide range of options for consumers. Moreover, the regulatory environment and government support for sustainable transportation initiatives further drive the growth of the Shared Mobility market in North America.

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.