Shared Mobility - Iceland

Iceland

Iceland is expected to see a significant rise in revenue for the Shared Mobility market as it is projected to reach €209.20m by 2024.
This is projected to grow annually by 4.13% (CAGR 2024-2029), resulting in a market volume of €256.10m by 2029.
In Iceland, the largest market of Shared Mobility market is Flights, with a projected market volume of €93.29m in 2024.
The number of users in the Public Transportation market is expected to reach 264.20k users by 2029.
The user penetration is expected to be 86.0% in 2024 and 95.0% by 2029.
The average revenue per user (ARPU) is estimated to reach €644.20 in Iceland.
By 2029, it is expected that 65% of the total revenue in the Shared Mobility market will be generated through online sales in Iceland.
It is noteworthy that in the global comparison, China is expected to generate the most revenue of €338bn in 2024.
Iceland's shared mobility market is still in its early stages, with car-sharing services being the primary mode of shared transportation.

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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Comparación de regiones

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Analyst Opinion

The Shared Mobility market in Iceland has been witnessing significant growth and evolution in recent years.

Customer preferences: Customers in Iceland are increasingly leaning towards shared mobility services due to the convenience, cost-effectiveness, and environmental benefits they offer. The trend towards sustainability and eco-friendly transportation options has been a driving force behind the popularity of shared mobility services in the country.

Trends in the market: One of the notable trends in the Shared Mobility market in Iceland is the increasing popularity of electric scooters and bicycles. These options not only provide an efficient way to navigate through urban areas but also align with Iceland's focus on sustainability and reducing carbon emissions. Additionally, car-sharing services have gained traction among residents and tourists alike, offering flexibility and affordability for short-term transportation needs.

Local special circumstances: Iceland's unique geographical landscape, with a mix of urban and rural areas, plays a significant role in shaping the Shared Mobility market. The compact urban centers make shared mobility services like bike-sharing and scooter rentals a convenient choice for short trips. On the other hand, the expansive rural areas present opportunities for car-sharing services to cater to residents and visitors exploring the countryside.

Underlying macroeconomic factors: The growing emphasis on sustainable practices and eco-friendly transportation solutions aligns with Iceland's commitment to environmental conservation. Government initiatives promoting clean energy and green transportation further support the development of shared mobility services in the country. Additionally, the increasing number of tourists visiting Iceland has created a demand for flexible and accessible transportation options, driving the expansion of shared mobility services to cater to a diverse customer base.

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.