Key regions: South America, Europe, China, Saudi Arabia, Malaysia
The Ride-hailing market in Bahrain continues to experience significant growth and development, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Bahrain are shifting towards convenience and efficiency, with an increasing number of people opting for ride-hailing services as a preferred mode of transportation. This can be attributed to factors such as the ease of booking a ride through mobile applications, the ability to track the location of the driver in real-time, and the availability of multiple payment options. Additionally, the growing popularity of ride-hailing services can also be attributed to the increasing number of expatriates and tourists in Bahrain, who prefer the convenience and affordability of these services. Trends in the ride-hailing market in Bahrain include the emergence of local and regional players, as well as the integration of additional services into ride-hailing platforms. While international ride-hailing companies have a presence in the market, local and regional players are gaining traction by offering tailored services that cater to the specific needs and preferences of Bahraini customers. These players are also leveraging partnerships with local businesses and service providers to offer additional services such as food delivery, grocery shopping, and package delivery through their ride-hailing platforms. Local special circumstances in Bahrain, such as the small size of the country and the high population density in urban areas, contribute to the growth of the ride-hailing market. The limited availability of parking spaces and the increasing traffic congestion in major cities make ride-hailing services an attractive alternative to private car ownership. Furthermore, the government of Bahrain has been supportive of the ride-hailing industry, implementing regulations and policies that promote fair competition and ensure the safety and security of both drivers and passengers. Underlying macroeconomic factors also play a role in the development of the ride-hailing market in Bahrain. The country's strong economic growth, driven by sectors such as finance, tourism, and manufacturing, has led to an increase in disposable income and consumer spending. This, in turn, has contributed to the rising demand for ride-hailing services as consumers are willing to pay for the convenience and comfort provided by these services. In conclusion, the ride-hailing market in Bahrain is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. With the increasing popularity of ride-hailing services and the support of the government, the market is expected to continue to expand in the coming years.
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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