Shared Mobility - Philippines

Philippines

The Shared Mobility market in the Philippines is anticipated to witness a significant upsurge in revenue, reaching a projected value of US$10,040.00m by 2024.
Moreover, the market is expected to demonstrate a Compound Annual Growth Rate (CAGR) of 6.07% between 2024-2029, ultimately resulting in a market volume of US$13,480.00m by 2029.
The largest market of this market in the Philippines is Flights, which is expected to generate a revenue of US$6,928.00m by 2024.
By 2029, the number of users in the Public Transportation market is expected to reach 86,110.00k users.
In 2024, user penetration is projected to be 66.0% and is expected to increase to 74.1% by 2029.
Additionally, the average revenue per user (ARPU) is predicted to be US$167.20.
Interestingly, a noteworthy portion of the total revenue, i.e., 76%, is expected to be generated through online sales by 2029.
Lastly, it is important to note that, in comparison to other countries, China is expected to generate the most revenue in this market, with a projected value of US$365bn by 2024.
Shared mobility services, such as ride-hailing and bike-sharing, are rapidly growing in the Philippines as urban congestion and environmental concerns continue to rise.

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

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Analyst Opinion

The Shared Mobility market in Philippines has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Philippines are increasingly looking for convenient and cost-effective transportation options. Shared mobility services offer them flexibility and affordability, making it an attractive choice for daily commuting and short trips.

Trends in the market: One of the key trends in the Shared Mobility market in Philippines is the rise of ride-hailing services. Companies offering ride-hailing services have gained popularity due to their ease of use and quick access to transportation. Additionally, the bike-sharing and scooter-sharing services have also seen a surge in demand, especially in urban areas where traffic congestion is a major issue.

Local special circumstances: The unique geography of Philippines, with its numerous islands and densely populated urban centers, has contributed to the growth of the Shared Mobility market. The need for efficient and reliable transportation options in congested cities has driven the adoption of shared mobility services as a practical solution for many Filipinos.

Underlying macroeconomic factors: The growing middle-class population in Philippines, coupled with increasing urbanization and smartphone penetration, has created a favorable environment for the expansion of Shared Mobility services. The rise of digital payment systems and the overall improvement in infrastructure have also played a significant role in shaping the Shared Mobility market in the country.

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.