Shared Mobility - Uruguay

Uruguay

Highlights

In Uruguay, the Shared Mobility market is expected to generate a revenue of US$1.23bn by 2024, with an annual growth rate of 3.59% between 2024 and 2029, resulting in a projected market volume of US$1.46bn by 2029.
The largest market in this market is Flights, with a projected market volume of US$510.80m in 2024.
By 2029, the number of users in Public Transportation is expected to reach 2.59m users.
The user penetration for this market is 95.0% in 2024 and is expected to increase to 95.0% by 2029.
The average revenue per user (ARPU) is expected to be US$362.20.
By 2029, 57% of the total revenue in the Shared Mobility market will be generated through online sales.
In terms of global comparison, China is projected to generate the most revenue, with an estimated revenue of US$365bn in 2024.
Uruguay's Shared Mobility market is experiencing a growing demand for electric scooters and bikes as sustainable transportation options.

Key regions:

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.

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Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Uruguay, a country known for its progressive policies and commitment to sustainability, has seen a significant rise in the Shared Mobility market in recent years.

Customer preferences: Customers in Uruguay are increasingly valuing convenience, affordability, and sustainability when it comes to transportation options. Shared Mobility services such as ride-hailing, bike-sharing, and scooter-sharing have gained popularity as they offer flexibility and cost-effectiveness. Additionally, the younger demographic in Uruguay, who are more inclined towards using technology and prioritizing environmental concerns, are driving the demand for Shared Mobility services.

Trends in the market: One of the prominent trends in the Shared Mobility market in Uruguay is the integration of multiple services into a single platform. This trend not only enhances the user experience by providing a one-stop solution for different transportation needs but also promotes the concept of seamless mobility. Moreover, partnerships between Shared Mobility providers and public transportation agencies are on the rise, aiming to improve first and last-mile connectivity for passengers.

Local special circumstances: Uruguay's compact urban centers and well-developed infrastructure make it conducive for Shared Mobility services to thrive. The country's focus on sustainability and reducing carbon emissions has led to a favorable environment for Shared Mobility operators offering electric vehicles. Additionally, the government's support for innovative transportation solutions and regulations promoting Shared Mobility has further boosted the market in Uruguay.

Underlying macroeconomic factors: The growing urban population and increasing disposable income levels in Uruguay have contributed to the expansion of the Shared Mobility market. As more people move to urban areas in search of better opportunities, the demand for efficient and cost-effective transportation options has surged. Furthermore, the rise of the gig economy and flexible working arrangements have also fueled the adoption of Shared Mobility services among freelancers and part-time workers looking for affordable commuting options.

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.