Key regions: United States, Saudi Arabia, Germany, Malaysia, India
The Shared Mobility market in Kuwait is experiencing significant growth and evolution in response to changing consumer preferences and local market dynamics.
Customer preferences: Customers in Kuwait are increasingly valuing convenience, affordability, and sustainability when it comes to transportation options. This shift in preferences has led to a growing demand for shared mobility services that offer flexible and cost-effective solutions for getting around the city.
Trends in the market: One of the key trends in the Shared Mobility market in Kuwait is the rise of ride-hailing services and car-sharing platforms. These services provide customers with on-demand access to transportation without the hassle of owning a car, aligning with the trend of mobility-as-a-service. Additionally, the market is seeing an increase in electric scooters and bikes as environmentally friendly options for short-distance travel within urban areas.
Local special circumstances: Kuwait's unique geography and urban layout play a significant role in shaping the Shared Mobility market in the country. The relatively small size of the urban centers and the high population density in certain areas create a conducive environment for shared mobility services to thrive. Additionally, the government's focus on sustainable development and reducing traffic congestion further supports the growth of shared mobility options in Kuwait.
Underlying macroeconomic factors: The economic stability and increasing disposable income levels in Kuwait have also contributed to the growth of the Shared Mobility market. As more residents have the financial means to choose convenience and efficiency in their transportation options, shared mobility services become an attractive alternative to traditional car ownership. Moreover, the government's investments in transportation infrastructure and smart city initiatives have paved the way for the expansion of shared mobility services in the country.
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.
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