Key regions: South America, Europe, China, Saudi Arabia, Malaysia
The Ride-hailing market in Argentina has seen significant growth and development in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: One of the key drivers behind the growth of the Ride-hailing market in Argentina is the changing preferences of customers. With the increasing urbanization and congestion in major cities, customers are looking for convenient and efficient transportation options. Ride-hailing services provide a convenient and affordable alternative to traditional taxis, allowing customers to book a ride with just a few taps on their smartphones. Additionally, the ability to track the location of the driver and make cashless payments adds to the appeal of ride-hailing services for customers.
Trends in the market: The Ride-hailing market in Argentina has witnessed several trends that have contributed to its growth. One of the major trends is the increasing adoption of ride-hailing services by younger generations. Younger customers are more tech-savvy and open to trying new transportation options, making them a key demographic for ride-hailing companies. Another trend is the expansion of ride-hailing services to smaller cities and towns in Argentina. Initially, ride-hailing services were concentrated in major urban centers, but they have now expanded their operations to cater to the growing demand in smaller cities and towns.
Local special circumstances: Argentina's unique market conditions have also played a role in the development of the Ride-hailing market. The country has a large population with a high smartphone penetration rate, making it an attractive market for ride-hailing companies. Additionally, the high rate of car ownership and limited parking spaces in major cities have made ride-hailing services a popular choice for customers. The presence of a large informal economy and a high level of unemployment has also contributed to the growth of the ride-hailing market, as many individuals turn to ride-hailing as a source of income.
Underlying macroeconomic factors: The Ride-hailing market in Argentina is also influenced by underlying macroeconomic factors. The country has experienced periods of economic instability and inflation, leading to a decrease in disposable income for many individuals. As a result, customers are looking for cost-effective transportation options, and ride-hailing services provide a more affordable alternative to owning a car or taking a traditional taxi. Additionally, the rise of the gig economy and the increasing number of individuals working as independent contractors have created a pool of potential drivers for ride-hailing companies. Overall, the Ride-hailing market in Argentina has experienced significant growth and development due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The convenience, affordability, and flexibility offered by ride-hailing services have made them a popular choice for customers in Argentina. As the market continues to evolve, ride-hailing companies are likely to expand their operations and introduce new services to cater to the diverse needs of customers in the country.
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings and revenues of ride-hailing services.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.
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