Ride-hailing - Qatar | Statista Market Forecast

It is projected that the Ride-hailing market in Qatar will generate revenue amounting to US$54.24m by 2024.
Moreover, the market is expected to grow annually at a rate of 5.10% during the period of 2024-2029, resulting in a projected market volume of US$69.56m by 2029.
The number of users in this market is expected to reach 976.50k users by 2029.
In terms of user penetration, the projection suggests it will be 28.8% in 2024 and 34.4% by 2029.
The average revenue per user (ARPU) is expected to be US$68.92.
Additionally, it is forecasted that 100% of the total revenue in this market will be generated through online sales by 2029.
When compared globally, China is expected to generate the highest revenue of US$60bn in 2024.
Qatar's Ride-hailing market is dominated by Uber and Careem, with increasing competition from local player, Mowasalat.

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 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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