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Bike-sharing - Italy

Italy

Italy is projected to reach a revenue of US$54.29m in the Bike-sharing market by 2024.
The revenue is expected to grow at an annual rate of 4.24% (CAGR 2024-2028), resulting in a projected market volume of US$64.09m by 2028.
The number of users in the Bike-sharing market is expected to reach 3.15m users by 2028, with a user penetration of 4.7% in 2024 and 5.4% by 2028.
The average revenue per user (ARPU) is projected to be US$19.51.
Furthermore, 95% of the total revenue generated in the Bike-sharing market by 2028 will be through online sales.
It is worth noting that in global comparison, China is expected to generate the most revenue (US$5,870m in 2024).
Italy's bike-sharing market is dominated by local players, such as BikeMi in Milan and Roma Bike in Rome.

Key regions: Thailand, China, Germany, Saudi Arabia, United States

Definition:

The Bike-sharing market includes short-term bike-sharing services. In bike-sharing services, bicycles are generally owned by a bike-sharing provider and are independently reserved by customers around the clock. Customers are required to open an account with the bike-sharing provider and can then reserve bicycles. This is usually done with a smartphone app, but there are also service providers that allow reservations to be made via the provider's website, by telephone, or at a terminal.

The two most frequently used bike-sharing varieties are the following: station-based (e.g., Stadtrad and Citi Bike New York) and free-floating (such as nextbike and ofo). With station-based bike-sharing, a bicycle is retrieved from a bike-sharing station and returned to either the same station or dropped off at another station. With free-floating bike-sharing, it is possible to find bicycles everywhere within the service provider's business zone and leave the bicycle anywhere in accordance with traffic regulations. Peer-to-peer bike-sharing is not included in the market definition of this market. Moped-sharing services are not available in all countries; thus, only a limited number of countries and regions can be selected.

Additional Information:

The main performance indicators of the Bike-sharing 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 mentioned market. 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.

The booking volume includes all booked rides made by users from the selected region, regardless of where the ride took place.

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Analyst Opinion

The Bike-sharing market in Italy has been experiencing significant growth and development in recent years.

Customer preferences: Italian consumers have shown a growing preference for bike-sharing services due to several factors. Firstly, there is an increasing awareness and concern for the environment, with many people choosing more sustainable transportation options. Bike-sharing provides a convenient and eco-friendly alternative to traditional modes of transportation, such as cars or public transport. Additionally, bike-sharing allows users to avoid traffic congestion and enjoy the flexibility of traveling at their own pace.

Trends in the market: One of the key trends in the Italian Bike-sharing market is the expansion of services to smaller cities and towns. Initially, bike-sharing services were predominantly available in major cities like Rome and Milan. However, there has been a growing demand for such services in smaller urban areas. This trend can be attributed to the increasing popularity of bike-sharing and the desire for more sustainable transportation options in all parts of the country. Another trend in the market is the integration of bike-sharing with other modes of transportation. Many bike-sharing companies have partnered with public transportation systems to provide a seamless and integrated travel experience for users. This allows individuals to easily combine bike-sharing with buses, trains, or trams, making it a more convenient option for daily commuting or exploring the city.

Local special circumstances: Italy's rich cultural heritage and beautiful landscapes make it an ideal country for bike-sharing. Many tourists visiting Italy are drawn to its charming cities and picturesque countryside, and bike-sharing offers them a unique and enjoyable way to explore their surroundings. Additionally, the compact size of many Italian cities and towns makes them well-suited for bike-sharing, as it allows users to easily navigate through narrow streets and reach their destinations quickly.

Underlying macroeconomic factors: The growth of the Bike-sharing market in Italy can also be attributed to several macroeconomic factors. Firstly, the government has been actively promoting sustainable transportation options and investing in cycling infrastructure. This has created a supportive environment for bike-sharing companies to expand their operations and attract more users. Additionally, the increasing urbanization and congestion in Italian cities have made bike-sharing a practical and efficient solution for daily commuting. In conclusion, the Bike-sharing market in Italy is experiencing significant growth and development due to customer preferences for sustainable transportation options, trends in expanding services to smaller cities and integrating with other modes of transportation, local special circumstances such as tourism and compact urban areas, and underlying macroeconomic factors including government support and urbanization.

Methodology

Data coverage:

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