Ride-hailing - New Zealand | Statista Market Forecast

By 2024, the revenue in the Ride-hailing market sector in New Zealand is predicted to reach US$170.10m.
Furthermore, it is expected to experience an annual growth rate of 4.27%, resulting in a projected market volume of US$209.60m by 2029.
The number of users in this market is anticipated to increase to 1.56m users by 2029, with a user penetration of 24.7% in 2024 and 28.6% by 2029.
The average revenue per user (ARPU) is projected to be US$130.50.
The Ride-hailing market is an online-only market.
In terms of global comparison, China is expected to generate the most revenue in the Ride-hailing market, with US$60bn in 2024.
In New Zealand, ride-hailing services are facing increased competition from traditional taxi companies, as they improve their technology and customer service offerings.

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 New Zealand has experienced significant growth and development in recent years.

Customer preferences: Customers in New Zealand have shown a strong preference for ride-hailing services due to their convenience and affordability. The ability to book a ride through a mobile app and track the driver's location in real-time has made ride-hailing a popular choice for both locals and tourists. Additionally, the availability of different types of vehicles, such as economy cars or luxury sedans, allows customers to choose the option that best suits their needs and budget.

Trends in the market: One of the key trends in the ride-hailing market in New Zealand is the increasing competition among service providers. As more players enter the market, customers have a wider range of options to choose from. This has led to improved service quality and competitive pricing, benefiting the customers. Additionally, ride-hailing companies are constantly innovating and introducing new features to enhance the customer experience, such as cashless payments, loyalty programs, and integration with other transportation services. Another trend in the market is the growing adoption of ride-hailing services by businesses. Many companies in New Zealand are using ride-hailing platforms to transport their employees or clients, as it offers a more convenient and cost-effective alternative to traditional transportation methods. This trend is expected to continue as businesses recognize the benefits of ride-hailing in terms of time and cost savings.

Local special circumstances: New Zealand's unique geography and population distribution contribute to the development of the ride-hailing market. The country has a relatively small population spread across both urban and rural areas. In regions with limited public transportation options, ride-hailing services fill the gap and provide a reliable means of transportation. Additionally, the presence of popular tourist destinations, such as Auckland and Queenstown, attracts a large number of visitors who rely on ride-hailing services for their transportation needs.

Underlying macroeconomic factors: The growing ride-hailing market in New Zealand 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. This has resulted in a higher demand for convenient and affordable transportation options, driving the growth of ride-hailing services. Furthermore, the high smartphone penetration rate in New Zealand has made it easier for customers to access ride-hailing apps and book rides on the go. In conclusion, the ride-hailing market in New Zealand is thriving due to customer preferences for convenience and affordability, as well as the presence of favorable macroeconomic factors. The increasing competition among service providers and the growing adoption of ride-hailing by businesses are shaping the market trends in the country. With its unique geography and population distribution, New Zealand presents a promising market for ride-hailing services.

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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