Key regions: South America, Europe, China, Saudi Arabia, Malaysia
The Ride-hailing market in Qatar has witnessed significant growth in recent years, driven by changing customer preferences, market trends, and local special circumstances.
Customer preferences: Customers in Qatar are increasingly opting for ride-hailing services due to their convenience, reliability, and affordability. The ability to book a ride through a mobile app and track the driver's location in real-time has become a preferred choice for many commuters. Additionally, the availability of various ride options, such as economy, luxury, and shared rides, caters to the diverse needs of customers.
Trends in the market: One of the key trends in the ride-hailing market in Qatar is the increasing adoption of electric vehicles (EVs) by ride-hailing companies. This trend is driven by the government's push towards sustainable transportation and the growing awareness among customers about environmental issues. The use of EVs not only reduces carbon emissions but also provides a unique selling point for ride-hailing companies, attracting environmentally conscious customers. Another trend in the market is the integration of ride-hailing services with other mobility solutions. Ride-hailing companies are partnering with public transportation providers to offer seamless travel experiences to customers. This integration allows customers to plan their journeys using a single platform, combining ride-hailing services with bus, metro, or tram services. This trend is particularly beneficial for customers who prefer a combination of different modes of transportation for their daily commute.
Local special circumstances: Qatar's rapidly growing population, driven by an influx of expatriate workers, has contributed to the increased demand for ride-hailing services. Many newcomers to the country prefer ride-hailing as a convenient and reliable mode of transportation, especially during their initial period of settling in. Additionally, Qatar's hot climate and limited public transportation options make ride-hailing an attractive alternative for customers who want to avoid the hassle of driving and parking in the city.
Underlying macroeconomic factors: The strong economic growth in Qatar has played a significant role in the development of the ride-hailing market. As the country's economy continues to expand, more people are entering the workforce, leading to an increase in commuting needs. Additionally, the government's investments in infrastructure development, such as the expansion of roads and the construction of new residential areas, have further fueled the demand for ride-hailing services. In conclusion, the ride-hailing market in Qatar has experienced remarkable growth due to customer preferences for convenience and affordability, market trends such as the adoption of electric vehicles and integration with other mobility solutions, local special circumstances including population growth and limited public transportation options, and underlying macroeconomic factors such as strong economic growth and infrastructure development.
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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