Key regions: South America, Europe, China, Saudi Arabia, Malaysia
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.
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