Shared Mobility - Zimbabwe

Zimbabwe

Zimbabwe is expected to witness a surge in the Shared Mobility market as revenue is projected to reach US$77.19m by 2024.
The sector is anticipated to exhibit an annual growth rate of 36.74% from 2024-2029, which will result in a projected market volume of US$369.00m by 2029.
The Public Transportation market is the largest market, expected to reach a market volume of US$35.19m by 2024.
By 2029, the number of users in Train Tickets is expected to reach 94.70m users.
In 2024, user penetration will be 53.9%, which is expected to increase to 95.0% by 2029.
The average revenue per user (ARPU) is expected to be US$8.42.
By 2029, 60% of total revenue in the Shared Mobility market will be generated through online sales.
In comparison to other countries, China is expected to generate the most revenue, amounting to US$365bn in 2024.
Shared mobility services in Zimbabwe are gaining popularity as a cost-effective alternative to traditional transportation options.

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 Zimbabwe is experiencing a significant shift in consumer behavior and market dynamics.

Customer preferences: Customers in Zimbabwe are increasingly seeking convenient and cost-effective transportation solutions, leading to a growing demand for shared mobility services. The younger demographic, in particular, values flexibility and on-demand services, driving the adoption of shared mobility options over traditional modes of transportation.

Trends in the market: One notable trend in the Shared Mobility market in Zimbabwe is the rise of ride-hailing services, offering a convenient way for individuals to book transportation through mobile applications. This trend is fueled by the increasing smartphone penetration in the country, making it easier for users to access and utilize these services. Additionally, the market is seeing a proliferation of bike-sharing and scooter-sharing services in urban areas, catering to short-distance travel needs and promoting eco-friendly transportation alternatives.

Local special circumstances: Zimbabwe's challenging economic environment and inadequate public transportation infrastructure have created opportunities for shared mobility providers to fill the gap in the market. The unreliable public transportation system and high costs associated with car ownership have further incentivized consumers to turn to shared mobility services for their daily commuting needs. Additionally, the growing urbanization in major cities like Harare and Bulawayo has led to congestion and increased demand for efficient transportation options, driving the expansion of shared mobility services in these areas.

Underlying macroeconomic factors: The economic instability in Zimbabwe, characterized by high inflation rates and currency fluctuations, has influenced the growth of the Shared Mobility market in the country. As consumers look for more affordable transportation alternatives amidst challenging economic conditions, shared mobility services offer a cost-effective and efficient solution for their daily commuting needs. The market is also benefiting from the increasing investments in technology infrastructure and digital payment systems, facilitating the expansion of shared mobility services across the country.

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.