Ride-hailing - Croatia | Statista Market Forecast

According to the projection, Croatia's Ride-hailing market revenue is estimated to reach US$25.28m by 2024.
The market is expected to grow annually at a rate of 5.41% from 2024 to 2029, resulting in a projected market volume of US$32.90m by 2029.
By 2029, the number of users is likely to reach 967.00k users.
In 2024, user penetration is expected to be 20.7%, which is expected to increase to 25.0% by 2029.
The average revenue per user (ARPU) is anticipated to be US$30.57.
It is expected that 100% of the total revenue in the Ride-hailing market will be generated through online sales by 2029.
When compared globally, China is projected to generate the most revenue in the Ride-hailing market with US$60bn in 2024.
Croatia's Ride-hailing market is dominated by Uber, but local companies like Cammeo and Eko Taxi are gaining traction.

Definition:

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. It includes Transportation Network Companies (TNCs), such as Uber and Lyft, traditional taxis booked via apps, such as Free Now or Cabify, and ride-pooling services, such as Moia and Via. This market excludes peer-to-peer ride-sharing, focusing on professionally operated transport services booked digitally for efficient and convenient urban mobility. Rides of traditional taxi services hailed on the street or booked via telephone are not included in this market.

Additional Information:

The main performance indicators of the Ride-hailing 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 mentioned market. 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.

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.

Platforms that let users book rides offered by drivers using their private vehicles (e.g., Uber)
Taxi companies that offer their services through an app (e.g., Free Now)
Platforms that offer shared rides (ride-pooling) with other passengers (e.g., Moia, Via)

Traditional taxi rides booked offline with taxi companies (via street-hailing or by telephone)

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.