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Key regions: South America, Europe, China, Saudi Arabia, Malaysia
The Ride-hailing market in Brunei Darussalam has experienced significant growth in recent years, driven by changing customer preferences and the emergence of new technology.
Customer preferences: Brunei Darussalam has seen a shift in customer preferences towards convenient and efficient transportation options. Ride-hailing services provide a convenient alternative to traditional taxis, allowing customers to book a ride with just a few taps on their smartphones. The ease of use and availability of ride-hailing apps have made them a popular choice among Bruneian consumers.
Trends in the market: One of the key trends in the ride-hailing market in Brunei Darussalam is the increasing competition among ride-hailing companies. As more players enter the market, customers have a wider range of options to choose from. This has led to price competition and improved service quality as companies strive to attract and retain customers. Another trend in the market is the expansion of ride-hailing services beyond urban areas. Initially, ride-hailing services were primarily available in major cities, but they have now expanded to cover suburban and rural areas as well. This has made it easier for people living outside urban centers to access affordable and convenient transportation options.
Local special circumstances: Brunei Darussalam has a relatively small population compared to other countries in the region. This presents both opportunities and challenges for ride-hailing companies. On one hand, the small population size means that the market may be limited in terms of potential customers. On the other hand, it also means that there is less competition from other ride-hailing companies, allowing companies to establish a strong presence in the market.
Underlying macroeconomic factors: The development of the ride-hailing market in Brunei Darussalam is also influenced by underlying macroeconomic factors. The country has a high smartphone penetration rate, which is a key enabler for the growth of ride-hailing services. Additionally, Brunei Darussalam has a relatively high GDP per capita, indicating a higher disposable income among its population. This provides a favorable environment for the adoption of ride-hailing services, as customers are more willing to spend on convenient transportation options. In conclusion, the ride-hailing market in Brunei Darussalam is developing rapidly due to changing customer preferences, increasing competition, and favorable macroeconomic factors. The convenience and affordability of ride-hailing services have made them a popular choice among Bruneian consumers, leading to the expansion of the market beyond urban areas. Despite the small population size, ride-hailing companies have the opportunity to establish a strong presence in the market and cater to the transportation needs of the Bruneian population.
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.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)