Ride-hailing - Turkey | Statista Market Forecast

According to recent projections, the revenue of Turkey's Ride-hailing market is expected to reach US$561.20m by 2024.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 6.21%, resulting in a projected market volume of US$758.60m by 2029.
As for the number of users, it is estimated to reach 23.22m users by 2029.
The user penetration rate is expected to decrease slightly from 20.5% in 2024 to 26.3% by 2029.
The average revenue per user (ARPU) is expected to be US$31.80.
The Ride-hailing market is an online-only market.
Interestingly, in global comparison, China is expected to generate the most revenue with a projected revenue of US$60bn in 2024.
Despite competition from local ride-hailing companies, Uber remains a popular choice for tourists and foreigners visiting Turkey.

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 Turkey has experienced significant growth in recent years, driven by changing customer preferences and the emergence of local players.

Customer preferences: In Turkey, customers are increasingly turning to ride-hailing services as a convenient and affordable alternative to traditional taxis. The ease of booking a ride through a mobile app and the ability to track the driver's location in real-time have made ride-hailing services a popular choice among consumers. Additionally, the availability of various vehicle options, such as economy cars, luxury cars, and shared rides, caters to the diverse needs and preferences of customers.

Trends in the market: One of the key trends in the ride-hailing market in Turkey is the rise of local players. While international ride-hailing companies have a presence in the country, local players have gained significant market share by understanding the unique needs and preferences of Turkish customers. These local players have tailored their services to cater to the local market, offering features such as cash payments and the ability to request female drivers, which have resonated well with customers. Another trend in the market is the integration of ride-hailing services with other transportation modes. In an effort to provide a seamless travel experience, ride-hailing companies in Turkey have partnered with public transportation providers to offer integrated ticketing and multi-modal transportation options. This allows customers to easily combine ride-hailing services with buses, trams, and metro lines, providing them with a more efficient and convenient way to get around the city.

Local special circumstances: Turkey's unique geography and urbanization patterns have also contributed to the growth of the ride-hailing market. With a large population and congested cities, there is a high demand for transportation solutions that can help alleviate traffic congestion and provide efficient mobility options. Ride-hailing services have emerged as a viable solution to this problem, offering customers a convenient and reliable way to navigate through the city.

Underlying macroeconomic factors: The growth of the ride-hailing market in Turkey is also influenced by underlying macroeconomic factors. As the economy continues to develop and disposable incomes rise, more people are able to afford the convenience and comfort of ride-hailing services. Additionally, the increasing penetration of smartphones and internet connectivity has made it easier for customers to access ride-hailing apps and book rides on the go. In conclusion, the ride-hailing market in Turkey is developing rapidly due to changing customer preferences, the rise of local players, the integration of ride-hailing services with other transportation modes, and underlying macroeconomic factors. As these trends continue to shape the market, we can expect further growth and innovation in the ride-hailing industry in Turkey.

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.