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Ride-hailing - Ireland

Ireland

In Ireland, the Ride-hailing market is expected to reach a revenue of €303.90m by 2024.
The revenue is projected to grow annually at a rate of 2.72% from 2024 to 2029, resulting in a market volume of €347.50m in 2029.
The number of users in this market is expected to reach 1.61m users by 2029, with a user penetration of 27.7% in 2024 and 30.7% by 2029.
The average revenue per user (ARPU) is projected to be €215.80.
The Ride-hailing market is an online-only market.
It is worth noting that in global comparison, China is expected to generate the most revenue in this market, with a projected revenue of €54,660m in 2024.
In Ireland, ride-hailing services have gained popularity due to the convenience they offer in navigating the country's narrow and winding roads.

Key regions: South America, Europe, China, Saudi Arabia, Malaysia

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Analyst Opinion

The Ride-hailing market in Ireland is experiencing significant growth and development, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Ireland have shifted towards convenience and efficiency, leading to an increased demand for ride-hailing services. The ease of booking a ride through mobile applications and the ability to track the arrival time of the driver have made ride-hailing a preferred choice for many customers. Additionally, the availability of various vehicle options and the ability to share rides with others have further enhanced the appeal of ride-hailing services. Trends in the market indicate that ride-hailing companies are expanding their operations and offerings in Ireland. This includes the introduction of new services such as food delivery and package delivery, which have gained popularity among customers. Furthermore, ride-hailing companies are increasingly focusing on sustainability by offering electric or hybrid vehicle options, aligning with the growing environmental consciousness of customers. Local special circumstances in Ireland have also contributed to the development of the ride-hailing market. The country's urban areas, especially Dublin, have high population densities and limited parking spaces, making ride-hailing a more convenient and cost-effective alternative to owning a car. Additionally, the presence of a young and tech-savvy population in Ireland has further fueled the demand for ride-hailing services. Underlying macroeconomic factors have played a role in the growth of the ride-hailing market in Ireland. The country's strong economic performance, with steady GDP growth and low unemployment rates, has increased disposable incomes and consumer spending. This has allowed more individuals to afford ride-hailing services and contribute to the overall growth of the market. Moreover, the increasing number of tourists visiting Ireland has also boosted the demand for ride-hailing services as a convenient means of transportation. In conclusion, the ride-hailing market in Ireland is witnessing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The convenience, efficiency, and variety of services offered by ride-hailing companies have made them a preferred choice for many customers. With the continued expansion and innovation in the market, the ride-hailing industry in Ireland is expected to thrive in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings and revenues of ride-hailing 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.