Key regions: South America, Europe, China, Saudi Arabia, Malaysia
The Ride-hailing market in Eastern Europe has been experiencing significant growth in recent years.
Customer preferences: Customers in Eastern Europe are increasingly turning to ride-hailing platforms for their transportation needs. The convenience and ease of use offered by these platforms have made them a popular choice among consumers. Additionally, the ability to track the location of the driver and estimated arrival time has provided customers with a sense of security and reliability.
Trends in the market: One of the key trends in the ride-hailing market in Eastern Europe is the emergence of local players. While international ride-hailing companies have a presence in the region, local companies have gained significant market share by tailoring their services to the specific needs and preferences of the local population. These local players have a better understanding of the local market dynamics and are able to provide services that are more suited to the local culture and infrastructure. Another trend in the market is the increasing adoption of ride-hailing services by corporate customers. Many companies in Eastern Europe are now using ride-hailing platforms for their employees' transportation needs. This trend is driven by the cost savings and convenience that ride-hailing services offer compared to traditional taxi services.
Local special circumstances: Eastern Europe is known for its high population density, especially in urban areas. This has created a strong demand for efficient and affordable transportation options. Ride-hailing platforms have been able to fill this gap by providing a reliable and convenient transportation solution. Furthermore, the relatively low car ownership rates in some Eastern European countries have contributed to the growth of the ride-hailing market. Many people in the region prefer not to own a car due to the associated costs and limited parking availability. Ride-hailing platforms offer a flexible and cost-effective alternative to car ownership.
Underlying macroeconomic factors: The growth of the ride-hailing market in Eastern Europe can also be attributed to the region's improving economic conditions. As the economies in Eastern Europe continue to develop, disposable incomes are increasing, allowing more people to afford ride-hailing services. Additionally, the increasing penetration of smartphones and internet connectivity in the region has made it easier for people to access ride-hailing platforms. The widespread availability of mobile internet has created a conducive environment for the growth of the ride-hailing market. In conclusion, the ride-hailing market in Eastern Europe is experiencing significant growth due to the convenience and affordability offered by these platforms. Local players have gained market share by tailoring their services to the specific needs and preferences of the local population. The increasing adoption of ride-hailing services by corporate customers and the high population density in the region have also contributed to the growth of the market. The improving economic conditions and increasing smartphone penetration in Eastern Europe are further driving the growth of the ride-hailing market.
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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