Shared Mobility - Hungary

Hungary

The Shared Mobility market in Hungary is expected to experience a surge in revenue, with a projected value of US$2,083.00m in 2024.
Moreover, the market is expected to grow at an annual rate of 2.30% from 2024 to 2029, resulting in a projected market volume of US$2,334.00m by 2029.
The Public Transportation market is the largest in the market, with a projected market volume of US$907.90m in 2024.
The number of users in the Shared Mobility market market is anticipated to reach 6.69m users by 2029.
In the Shared Mobility market, the user penetration rate is expected to rise from 89.8% in 2024 to 95.0% by 2029.
The average revenue per user (ARPU) is forecasted to be US$232.00.
By 2029, online sales are expected to account for 53% of the total revenue in the Shared Mobility market.
Comparing to other countries, China is projected to generate the highest revenue, with US$365bn in 2024.
Despite the growing demand for shared mobility solutions in Hungary, the lack of infrastructure and regulatory support remains a challenge.

Key regions: United States, Saudi Arabia, Germany, Malaysia, India

Definition:

The Shared Mobility market encompasses a diverse range of long- and short-distance mobility services. As the world moves towards a more connected and digital era, the Shared Mobility market is central to driving innovation, collaboration, and the development of intelligent transportation systems.

Structure:

The market consists of eleven further markets. These include the following markets:

The Car Rentals market contains vehicle rentals that have been booked in person, by telephone via the internet or an app.
The Car-sharing market includes professionally run car-sharing services that provide on-demand access vehicles, allowing users to rent cars for short periods, e.g., by minute or hour.
The Bike-sharing market contains short-term bike-sharing services. Bicycles can be found in the provider’s business zone where they are either parked at designated stations or freely distributed without fixed docks.
The Ride-hailing market encompasses on-demand transportation services facilitated through mobile apps or online platforms. This market covers both private vehicle rides and taxi services, all booked exclusively online.
The Taxi market covers exclusively traditional taxi services booked offline, typically via street hailing or phone calls.
The Flights market contains air travel bookings regardless of the purchase channel, such as an airline's website or a travel agency.
In the Public Transportation market, revenues generated by ticket sales from public transportation companies are considered.

Additional Information:

The main performance indicators of the Shared Mobility 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 above-mentioned markets. 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. Additional definitions for each market can be found within the respective market pages.

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

For further information on the data displayed, refer to the info button right next to each box.

Market

Region

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Analyst Opinion

Over the past few years, the Shared Mobility market in Hungary has been experiencing significant growth and evolution.

Customer preferences: Customers in Hungary are increasingly valuing convenience, cost-effectiveness, and sustainability when it comes to transportation options. Shared Mobility services such as ride-hailing, car-sharing, and bike-sharing are gaining popularity due to their flexibility and affordability compared to traditional car ownership. Additionally, the younger generation, in particular, is more inclined towards shared transportation solutions that align with their environmentally conscious mindset.

Trends in the market: One of the key trends shaping the Shared Mobility market in Hungary is the integration of digital platforms and mobile applications. This technological advancement has made it easier for consumers to access and utilize shared transportation services, thereby driving market growth. Moreover, the market is witnessing collaborations between Shared Mobility providers and public transportation systems to offer seamless intermodal solutions, enhancing the overall mobility experience for users.

Local special circumstances: In Hungary, the Shared Mobility market is also influenced by the government's initiatives to reduce traffic congestion and air pollution in major cities. Policies supporting sustainable transportation options and infrastructure development have created a conducive environment for Shared Mobility services to thrive. Furthermore, the cultural shift towards a sharing economy mindset is encouraging more individuals to embrace the concept of shared transportation for their daily commuting needs.

Underlying macroeconomic factors: The economic landscape of Hungary, with a growing urban population and increasing disposable income levels, plays a crucial role in the expansion of the Shared Mobility market. As more people move to urban areas and seek cost-effective transportation solutions, Shared Mobility services become a practical choice. Additionally, the rise of flexible working arrangements and the gig economy are driving the demand for on-demand transportation services, further fueling the growth of the Shared Mobility market in Hungary.

Methodology

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.