Key regions: South America, Europe, China, Saudi Arabia, Malaysia
The Ride-hailing market in North Macedonia has been experiencing significant growth in recent years, driven by changing customer preferences and the emergence of new market trends.
Customer preferences: Customers in North Macedonia have shown a strong preference for ride-hailing services due to their convenience, affordability, and reliability. The ability to book a ride with just a few taps on a smartphone has made ride-hailing a popular choice for both locals and tourists. Additionally, the transparency in pricing and the option to choose different types of vehicles have further attracted customers to this mode of transportation.
Trends in the market: One of the key trends in the ride-hailing market in North Macedonia is the increasing adoption of electric vehicles. As the country aims to reduce its carbon footprint and promote sustainable transportation, ride-hailing companies have started to introduce electric vehicles into their fleets. This not only aligns with the global trend towards electric mobility but also appeals to environmentally conscious customers who prefer greener transportation options. Another trend in the market is the integration of ride-hailing services with other modes of transportation. In an effort to provide a seamless travel experience, ride-hailing companies have partnered with public transportation providers to offer integrated ticketing and multi-modal journey planning. This allows customers to easily combine ride-hailing with other modes of transportation, such as buses or trains, to reach their destinations more efficiently.
Local special circumstances: North Macedonia's relatively small size and limited public transportation options have contributed to the growth of the ride-hailing market. With a population that is increasingly urbanized, there is a growing need for reliable and convenient transportation solutions. Ride-hailing services have filled this gap by providing on-demand transportation that is accessible to people living in both urban and rural areas.
Underlying macroeconomic factors: The growth of the ride-hailing market in North Macedonia is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and a higher standard of living. As a result, more people are able to afford ride-hailing services, leading to an expansion of the market. In conclusion, the ride-hailing market in North Macedonia is growing rapidly due to changing customer preferences, the adoption of new market trends, local special circumstances, and underlying macroeconomic factors. The convenience, affordability, and reliability of ride-hailing services have made them a popular choice for transportation, while the integration with other modes of transportation and the use of electric vehicles have further enhanced their appeal. With the continued growth of the economy and increasing urbanization, the ride-hailing market in North Macedonia is expected to continue expanding 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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
