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Mon - Fri, 9am - 6pm (EST)
Key regions: United States, Saudi Arabia, Germany, Malaysia, India
The Shared Mobility market in Panama is experiencing a significant growth trajectory, driven by changing consumer preferences, technological advancements, and evolving urban landscapes.
Customer preferences: Panamanian consumers are increasingly opting for shared mobility services due to the convenience, cost-effectiveness, and environmental benefits they offer. The younger population, in particular, is more inclined towards flexible transportation solutions that do not require long-term commitments. Moreover, the desire for hassle-free commuting in congested urban areas is propelling the demand for shared mobility options.
Trends in the market: In Panama, the Shared Mobility market is witnessing a surge in ride-hailing services, bike-sharing platforms, and carpooling initiatives. This trend is fueled by the growing smartphone penetration, which makes it easier for users to access and utilize these services. Additionally, the government's initiatives to reduce traffic congestion and promote sustainable transportation are further boosting the adoption of shared mobility solutions across the country.
Local special circumstances: Panama's unique geographical location as a bridge between North and South America, coupled with its status as a major financial hub, has led to a diverse population with varying transportation needs. The presence of multinational companies and a large expatriate community has created a demand for efficient and flexible mobility options. As a result, shared mobility providers in Panama are tailoring their services to cater to the specific requirements of both locals and expats.
Underlying macroeconomic factors: The economic stability and steady growth of Panama's economy have had a positive impact on the Shared Mobility market. As disposable incomes rise and the middle class expands, more people are looking for cost-effective ways to commute within cities. Additionally, the government's investments in infrastructure development and smart city initiatives are creating a conducive environment for shared mobility services to thrive.
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)