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Car-sharing - Indonesia

Indonesia

Indonesia's Car-sharing market is anticipated to earn a revenue of €60.48m by 2024.
It is further estimated that the revenue will grow annually at a rate of 5.34% (CAGR 2024-2029), resulting in a market volume of €78.45m by 2029.
The number of users in the Car-sharing market is projected to reach 1.57m users by 2029.
In 2024, the user penetration is expected to be 0.4%, which is expected to increase to 0.5% by 2029.
The average revenue per user (ARPU) is predicted to be €48.90.
By 2029, online sales are expected to generate 85% of the total revenue in the Car-sharing market.
It is noteworthy that United States will generate the most revenue in the Car-sharing market in comparison to other countries, with an estimated revenue of €2,769m by 2024.
Car-sharing services in Indonesia are gaining popularity as urbanization and traffic congestion increase in major cities like Jakarta.

Key regions: Europe, Germany, India, United States, Malaysia

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Analyst Opinion

The Car-sharing market in Indonesia has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Indonesian consumers are increasingly seeking more convenient and cost-effective transportation options, which has led to a growing demand for car-sharing services. The rise of urbanization and congestion in major cities has made car ownership more burdensome, leading many consumers to opt for car-sharing as a more flexible and affordable alternative. Additionally, younger generations are showing a preference for sharing economy models, valuing access over ownership.

Trends in the market: The car-sharing market in Indonesia is witnessing several key trends. Firstly, there has been a rise in the number of car-sharing platforms entering the market, offering a variety of options to consumers. This increased competition has resulted in improved services, lower prices, and more convenient booking systems. Secondly, there is a growing trend towards electric and hybrid car-sharing services, as consumers become more environmentally conscious and seek sustainable transportation options. This trend is further supported by government initiatives to promote electric vehicles and reduce carbon emissions. Lastly, car-sharing services are expanding beyond major cities and into smaller towns and rural areas, catering to a wider range of customers.

Local special circumstances: Indonesia's unique geographical and demographic characteristics contribute to the growth of the car-sharing market. The country consists of thousands of islands, making it difficult for individuals to own and maintain their own vehicles. In addition, the high population density in urban areas exacerbates traffic congestion, making car-sharing an attractive option for many. Furthermore, the relatively low car ownership rate in Indonesia compared to other countries in the region provides ample opportunity for car-sharing services to fill the gap.

Underlying macroeconomic factors: Several macroeconomic factors are driving the development of the car-sharing market in Indonesia. The country's growing middle class and rising disposable incomes have increased consumer spending power, making car-sharing services more affordable and accessible. Additionally, advancements in technology and the widespread use of smartphones have made it easier for consumers to book and access car-sharing services. The government's efforts to improve infrastructure and transportation systems also play a role in supporting the growth of the car-sharing market. In conclusion, the car-sharing market in Indonesia is experiencing significant growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The demand for more convenient and cost-effective transportation options, coupled with the unique geographical and demographic characteristics of the country, has created a favorable environment for the development of car-sharing services. As the market continues to evolve, we can expect to see further expansion, increased competition, and a greater emphasis on sustainability.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of car-sharing services.

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.