Shared Mobility - Southern Asia

Southern Asia

The Shared Mobility market in Southern Asia is expected to experience a significant growth in revenue, with a projection of US$59,240.00m by 2024.
The market is expected to maintain an annual growth rate of 6.94% from 2024 to 2029, resulting in a projected market volume of US$153,400.00m by 2029.
The market's largest market, Flights, is projected to have a market volume of US$59,240.00m in 2024.
In terms of the highest user count, the Public Transportation market is expected to reach 1,559.00m users by 2029.
The user penetration rate is expected to be 73.7% in 2024 and 85.3% by 2029.
The average revenue per user (ARPU) is projected to amount to US$120.70.
Moreover, it is expected that by 2029, 69% of the total revenue in the Shared Mobility market will be generated through online sales.
It is interesting to note that in comparison to other countries, China is expected to generate the most revenue with a projection of US$365bn in 2024.
In Southern Asia, the shared mobility market is rapidly growing, with ride-hailing services like Grab and Gojek dominating the space in countries such as Indonesia and Vietnam.

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

Region comparison

Currency

Analyst Opinion

The Shared Mobility market in Southern Asia is experiencing significant growth and development, driven by changing consumer preferences, technological advancements, and unique local circumstances.

Customer preferences: Customers in Southern Asia are increasingly valuing convenience, cost-effectiveness, and sustainability when it comes to transportation options. Shared mobility services such as ride-hailing, bike-sharing, and car-sharing are gaining popularity due to their flexibility and affordability compared to traditional modes of transportation.

Trends in the market: In countries like India and Bangladesh, the Shared Mobility market is witnessing a surge in demand for motorcycle taxis and auto-rickshaws as convenient and efficient first and last-mile solutions. On the other hand, countries like Singapore and Malaysia are seeing a rise in electric scooter and bicycle-sharing services to promote eco-friendly transportation options in urban areas.

Local special circumstances: Southern Asia's diverse geography, rapid urbanization, and infrastructural challenges are influencing the growth of the Shared Mobility market in unique ways. For instance, congested cities like Jakarta and Dhaka are embracing motorcycle ride-hailing services to navigate traffic jams, while tourist destinations like Bali are adopting shared car services to cater to the travel needs of visitors.

Underlying macroeconomic factors: The increasing smartphone penetration, rising disposable incomes, and growing urban population in Southern Asia are creating a conducive environment for the expansion of Shared Mobility services. Moreover, government initiatives to promote sustainable transportation solutions and reduce carbon emissions are further driving the adoption of shared mobility options across the region.

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.