Shared Mobility - Americas

Americas

The Shared Mobility market in Americas is poised to achieve a remarkable feat as it is expected to generate a revenue of €371,600.00m by 2024.
If this projection comes to fruition, it will mark a significant milestone for the industry.
Additionally, a Compound Annual Growth Rate (CAGR) of 1.93% is expected between 2024 and 2028, which will culminate in a market volume of €401,100.00m by 2028.
The largest market in the Shared Mobility market is the Flights market with a projected market volume of €167,800.00m by 2024.
Further, it is expected that the number of users in the Public Transportation market will reach 512.60m users by 2028.
Moreover, user penetration is anticipated to increase from 79.2% in 2024 to 80.1% by 2028.
The average revenue per user (ARPU) is expected to remain steady at €461.20, indicating that users are likely to spend a consistent amount on Shared Mobility market services.
Online sales are also expected to play a pivotal role in the industry's growth, with 73% of the total revenue projected to be generated through this channel by 2028.
It is also noteworthy that in global comparison, China is expected to generate the most revenue in the Shared Mobility market with a projected revenue of €376bn by 2024.
This highlights the potential of the industry to grow and expand in different parts of the world.
In the United States, the shared mobility market is rapidly growing, with ride-hailing services like Uber and Lyft dominating the landscape.

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

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Analyst Opinion

Over the past few years, the Shared Mobility market in Americas has experienced significant growth and evolution, driven by changing customer preferences, technological advancements, and unique local circumstances.

Customer preferences: Customers in the Americas 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 the United States, ride-hailing services have become a dominant force in the Shared Mobility market, with companies like Uber and Lyft leading the way. These services have transformed the way people commute in urban areas, offering on-demand transportation at the touch of a button. Additionally, the rise of electric scooters and bikes has provided commuters with alternative options for short-distance travel, further shaping the shared mobility landscape in the region.

Local special circumstances: Countries in Latin America, such as Brazil and Mexico, have seen a surge in shared mobility services as a solution to traffic congestion and limited public transportation infrastructure. In densely populated cities like São Paulo and Mexico City, ride-sharing and bike-sharing have become popular choices for residents looking to navigate the urban sprawl more efficiently.

Underlying macroeconomic factors: The economic landscape in the Americas plays a crucial role in the development of the Shared Mobility market. As disposable incomes rise and urbanization continues to increase, more people are seeking convenient and affordable transportation options. Additionally, government initiatives promoting sustainable transportation and reducing carbon emissions have encouraged the adoption of shared mobility services 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.