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 €391,600.00m 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 2.02% is expected between 2024 and 2029, which will culminate in a market volume of €432,700.00m by 2029.
The largest market in the Shared Mobility market is the Flights market with a projected market volume of €178,100.00m by 2024.
Further, it is expected that the number of users in the Public Transportation market will reach 568.50m users by 2029.
Moreover, user penetration is anticipated to increase from 79.4% in 2024 to 84.2% by 2029.
The average revenue per user (ARPU) is expected to remain steady at €484.80, 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 74% of the total revenue projected to be generated through this channel by 2029.
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 €335bn 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

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.

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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.