Key regions: Malaysia, Thailand, United States, Indonesia, South America
The Ride-hailing market in Israel 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 Israel are shifting towards convenience, reliability, and affordability, which are key factors driving the growth of the Ride-hailing market. Customers are increasingly looking for hassle-free transportation options that offer quick and reliable services at reasonable prices. The convenience of booking a ride through a mobile app and the ability to track the driver's location in real-time are also appealing to customers. Trends in the market further contribute to the development of the Ride-hailing market in Israel. One notable trend is the increasing adoption of ride-sharing services, where multiple passengers share a single ride to their destinations. This not only reduces costs for customers but also helps minimize traffic congestion and reduce carbon emissions. Another trend is the integration of additional services within ride-hailing platforms, such as food delivery or package delivery, providing customers with a one-stop solution for their transportation and delivery needs. Local special circumstances in Israel also play a role in the growth of the Ride-hailing market. The country has a relatively small land area, making it easier for ride-hailing companies to establish a strong presence and offer efficient services. Additionally, Israel has a high population density in urban areas, which creates a strong demand for convenient transportation options. The presence of a young and tech-savvy population further contributes to the adoption of ride-hailing services. Underlying macroeconomic factors also contribute to the development of the Ride-hailing market in Israel. The country has a thriving startup ecosystem and a strong focus on innovation, which has led to the emergence of local ride-hailing companies. These companies are able to leverage technology and develop innovative solutions to meet the evolving needs of customers. Furthermore, Israel has a robust digital infrastructure and high smartphone penetration, enabling widespread adoption of ride-hailing services. In conclusion, the Ride-hailing market in Israel is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The convenience, reliability, and affordability offered by ride-hailing services, along with the adoption of ride-sharing and integration of additional services, are driving the market forward. The small land area, high population density, and tech-savvy population in Israel create a favorable environment for the growth of the Ride-hailing market. The country's focus on innovation and strong digital infrastructure further contribute to the development of the market.
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.
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