Latin America Shared Mobility Market Size & Outlook
Latin America shared mobility market, 2018-2040 (US$M)
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Latin America shared mobility market highlights
- The Latin America shared mobility market generated a revenue of USD 11.1 million in 2023.
- The market is expected to grow at a CAGR of 9.6% from 2024 to 2040.
- In terms of segment, ride hailing was the largest revenue generating service model in 2023.
- Bike sharing is the most lucrative service model segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2040.
Latin America data book summary
| Market revenue in 2023 | USD 11.1 million |
| Market revenue in 2040 | USD 53.0 million |
| Growth rate | 9.6% (CAGR from 2023 to 2040) |
| Largest segment | Ride hailing |
| Fastest growing segment | Bike sharing |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2040 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Ride hailing, Bike sharing, Ride sharing, Car sharing |
| Key market players worldwide | Beijing Enterprises Holdings Ltd, Bayerische Motoren Werke AG, Grab Holdings Inc Class A, GreenGood Eco-Tech, Lyft Inc Class A, Uber Technologies Inc, Avis Budget Group Inc |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.3% of the global shared mobility market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2040.
- MEA is the fastest growing regional market and is projected to reach USD 57.6 million by 2040.
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Shared Mobility Market Scope
Shared Mobility Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America shared mobility market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to shared mobility market will help companies and investors design strategic landscapes.
Ride hailing was the largest segment with a revenue share of 60.36% in 2023. Horizon Databook has segmented the Latin America shared mobility market based on ride hailing, bike sharing, ride sharing, car sharing covering the revenue growth of each sub-segment from 2018 to 2040.
Latin America has witnessed the growth of the shared mobility market due to its expanding urban centers and the need for solutions to improve traffic congestion. In a few cities, such as Mexico City and Bogota, traffic jams are common, making shared mobility a practical alternative to private car ownership.
Additionally, economic factors have driven the popularity of ride-sharing services as a cost effective means of transportation. Digital payment systems and smartphone usage have facilitated the adoption of shared mobility, making booking and payment processes convenient.
Moreover, the emergence of electric scooters and bike-sharing services in cities like Buenos Aires and Santiago has further diversified the shared mobility market. Although the regulatory environment can be complex, some cities have embraced shared mobility as part of their efforts to enhance urban mobility and reduce environmental impact.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America shared mobility market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America shared mobility market from 2018 to 2040, including revenue numbers, major trends, and company profiles.
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Latin America shared mobility market size, by country, 2018-2040 (US$M)
Latin America Shared Mobility Market Outlook Share, 2023 & 2040 (US$M)
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