Ride-hailing - Morocco | Statista Market Forecast

Morocco is expected to witness a significant growth in the Ride-hailing market revenue, which is projected to reach US$67.01m in 2024.
Moreover, this revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.49%, resulting in a projected market volume of US$87.55m by 2029.
The number of users in this market is also expected to increase and amount to 4.98m users by 2029.
It is projected that the user penetration in Morocco will be 10.3% in 2024 and 12.5% by 2029.
Additionally, the average revenue per user (ARPU) is expected to amount to US$17.07.
The Ride-hailing market is an online-only market.
It is interesting to note that in global comparison, China is expected to generate the most revenue in this market, with US$60bn in 2024.
Ride-hailing services like Careem and Heetch are gaining popularity in Morocco, as the country's taxi industry faces challenges with safety and pricing.

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 Morocco is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this expansion. Customer preferences in Morocco are playing a crucial role in the growth of the Ride-hailing market. Customers are increasingly seeking convenience and efficiency in their transportation options. With the rise of smartphones and the availability of ride-hailing apps, customers are now able to easily book a ride with just a few taps on their screens. This has led to a shift in customer behavior, with many opting for ride-hailing services over traditional taxis or public transportation. Additionally, customers appreciate the transparency and safety features offered by ride-hailing platforms, which further contribute to their preference for this mode of transportation. Several trends in the market are also driving the development of the Ride-hailing market in Morocco. One notable trend is the increasing urbanization in the country. As more people move to cities, the demand for reliable transportation options grows. Ride-hailing services are able to meet this demand by providing efficient and convenient transportation solutions. Another trend is the growing popularity of shared rides. Customers are increasingly willing to share their rides with other passengers in order to reduce costs and minimize their environmental impact. Ride-hailing platforms have capitalized on this trend by offering shared ride options, further expanding their customer base. Local special circumstances in Morocco are also contributing to the growth of the Ride-hailing market. The country has a large population, with a significant portion residing in urban areas. This population density creates a high demand for transportation services, making Morocco an attractive market for ride-hailing companies. Additionally, the government has taken steps to regulate the ride-hailing industry, ensuring fair competition and consumer protection. This regulatory environment has provided a stable and supportive framework for ride-hailing companies to operate and expand in the country. Underlying macroeconomic factors are also playing a role in the development of the Ride-hailing market in Morocco. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and a higher standard of living for many Moroccans. This has resulted in a greater willingness to spend on transportation services, including ride-hailing. Furthermore, Morocco has a growing middle class, which is driving demand for convenient and reliable transportation options. As the economy continues to grow, the Ride-hailing market is expected to further expand. In conclusion, the Ride-hailing market in Morocco is experiencing significant growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The convenience, efficiency, and transparency offered by ride-hailing services, combined with increasing urbanization and a supportive regulatory environment, have contributed to the expansion of the market. As Morocco's economy continues to grow and the demand for transportation services increases, the Ride-hailing market is poised for further growth 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.