Saudi Arabia Shared Mobility Market Size & Outlook
Saudi Arabia shared mobility market, 2018-2040 (US$M)
Related Markets
Saudi Arabia shared mobility market highlights
- The Saudi Arabia shared mobility market generated a revenue of USD 1.1 million in 2023 and is expected to reach USD 6.5 million by 2040.
- The Saudi Arabia market is expected to grow at a CAGR of 10.8% 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.
Shared mobility market data book summary
| Market revenue in 2023 | USD 1.1 million |
| Market revenue in 2040 | USD 6.5 million |
| Growth rate | 10.8% (CAGR from 2023 to 2040) |
| Largest segment | Ride hailing |
| Fastest growing segment | Bike sharing |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Saudi Arabia accounted for 0.4% of the global shared mobility market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2040.
- In Middle East & Africa, South Africa shared mobility market is projected to lead the regional market in terms of revenue in 2040.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 6.5 million by 2040.
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Shared Mobility Market Scope
Shared Mobility Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia 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 63.64% in 2023. Horizon Databook has segmented the Saudi Arabia 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.
Saudi Arabia's shared mobility market is expected to grow significantly over the forecast period. The country's urban centers, including Riyadh and Jeddah, have been dealing with traffic congestion, and the government has recognized shared mobility as a solution to ease these issues.
Ride-sharing services like Uber and Careem have been embraced by the population, providing a convenient and cost effective alternative to private car ownership. Saudi Arabia has also actively promoted electric vehicles (EVs), and EV-sharing services have found their place in the market, offering a sustainable and efficient mode of transportation.
As the country progresses with its modernization efforts and environmental commitments, the shared mobility market is expected to continue growing, addressing the mobility needs of urban residents and visitors.
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia shared mobility market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia shared mobility market from 2018 to 2040, including revenue numbers, major trends, and company profiles.
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Saudi Arabia shared mobility market size, by service model, 2018-2040 (US$M)
Saudi Arabia Shared Mobility Market Outlook Share, 2023 & 2040 (US$M)
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