Shared Mobility - Saudi Arabia

Saudi Arabia

Saudi Arabia is expected to experience significant growth in the Shared Mobility market, with projected revenue of US$13,870.00m in 2024.
This is expected to rise at an annual growth rate of 4.87%, reaching a projected market volume of US$17,590.00m by 2029.
The largest market in Saudi Arabia is Flights, with a projected market volume of US$9,176.00m in 2024.
By 2029, the number of users in Ride-hailing is expected to increase to 16,450.00k users.
The user penetration rate in this market is expected to rise from 56.2% in 2024 to 63.0% by 2029.
The average revenue per user (ARPU) is expected to be US$659.00.
In Saudi Arabia, 83% of the total revenue in the Shared Mobility market will be generated through online sales by 2029.
In comparison to other countries, China is expected to generate the most revenue in the Shared Mobility market, with a projected revenue of US$365bn in 2024.
Shared mobility is gaining popularity in Saudi Arabia as the government pushes for sustainable transportation solutions.

Key regions: United States, Saudi Arabia, Germany, Malaysia, India

Definition:

The Shared Mobility market encompasses a diverse range of long- and short-distance mobility services. As the world moves towards a more connected and digital era, the Shared Mobility market is central to driving innovation, collaboration, and the development of intelligent transportation systems.

Structure:

The market consists of eleven further markets. These include the following markets:

The Car Rentals market contains vehicle rentals that have been booked in person, by telephone via the internet or an app.
The Car-sharing market includes professionally run car-sharing services that provide on-demand access vehicles, allowing users to rent cars for short periods, e.g., by minute or hour.
The Bike-sharing market contains short-term bike-sharing services. Bicycles can be found in the provider’s business zone where they are either parked at designated stations or freely distributed without fixed docks.
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.
The Taxi market covers exclusively traditional taxi services booked offline, typically via street hailing or phone calls.
The Flights market contains air travel bookings regardless of the purchase channel, such as an airline's website or a travel agency.
In the Public Transportation market, revenues generated by ticket sales from public transportation companies are considered.

Additional Information:

The main performance indicators of the Shared Mobility 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 above-mentioned markets. 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. Additional definitions for each market can be found within the respective market pages.

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.

Market

Region

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Analyst Opinion

The Shared Mobility market in Saudi Arabia is witnessing significant growth and development in recent years.

Customer preferences: Customers in Saudi Arabia are increasingly looking for convenient, cost-effective, and environmentally friendly transportation options. Shared Mobility services such as ride-hailing, car-sharing, and bike-sharing are becoming popular choices among consumers who value flexibility and ease of access to transportation.

Trends in the market: One of the key trends in the Shared Mobility market in Saudi Arabia is the growing adoption of ride-hailing services. With the rise of smartphone usage and the convenience of booking a ride with just a few taps, more consumers are opting for ride-hailing platforms to navigate the cities. Additionally, car-sharing services are also gaining traction, especially in urban areas where individuals prefer to access a vehicle only when needed, rather than owning one.

Local special circumstances: Saudi Arabia's Vision 2030 initiative, aimed at diversifying the economy and reducing dependence on oil, is driving innovation and investment in the transportation sector. The government's support for smart mobility solutions and sustainable transportation options is creating a conducive environment for the growth of the Shared Mobility market in the country.

Underlying macroeconomic factors: The increasing urbanization rate in Saudi Arabia, coupled with a young and tech-savvy population, is fueling the demand for Shared Mobility services. Moreover, the government's efforts to improve public transportation infrastructure and reduce traffic congestion are encouraging more people to opt for shared modes of transportation. Overall, the combination of changing consumer preferences, government initiatives, and technological advancements is shaping the Shared Mobility market landscape in Saudi Arabia.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of car rentals, ride-hailing, taxi, car-sharing, bike-sharing, e-scooter-sharing, moped-sharing, trains, buses, public transportation, and flights.

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.