Key regions: South America, Europe, China, Saudi Arabia, Malaysia
The Ride-hailing market in Croatia has been experiencing significant growth in recent years.
Customer preferences: One of the key reasons for the growth of the Ride-hailing market in Croatia is the increasing preference of customers for convenient and affordable transportation options. With the rise of smartphones and the ease of booking rides through mobile applications, customers are embracing the convenience of using ride-hailing services. The ability to track the location of the driver, estimated time of arrival, and cashless payments are some of the features that customers find appealing.
Trends in the market: The Ride-hailing market in Croatia has witnessed the entry of several international and local players, leading to increased competition. This competition has resulted in improved services, competitive pricing, and promotional offers to attract and retain customers. Furthermore, ride-hailing companies have expanded their services beyond traditional car rides to include options such as food delivery and courier services. This diversification has contributed to the growth of the market and increased customer engagement.
Local special circumstances: Croatia's tourism industry plays a significant role in the growth of the Ride-hailing market. The country attracts a large number of tourists each year, and many of them prefer using ride-hailing services for their transportation needs. This demand from tourists, coupled with the increasing popularity among locals, has created a favorable environment for the growth of the ride-hailing market in Croatia.
Underlying macroeconomic factors: The growth of the Ride-hailing market in Croatia can also be attributed to favorable macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. As a result, people are willing to spend more on convenient transportation options, including ride-hailing services. Additionally, the high rate of smartphone penetration in Croatia has made it easier for ride-hailing companies to reach a wider customer base and expand their operations. In conclusion, the Ride-hailing market in Croatia has been growing rapidly due to customer preferences for convenient and affordable transportation options, the entry of new players, and the diversification of services. The country's thriving tourism industry and favorable macroeconomic factors have also contributed to the growth of the market. As the market continues to evolve, it is expected to witness further expansion and innovation 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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