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Ride-hailing - Jordan

Jordan

Jordan is predicted to see significant growth in the Ride-hailing market in the coming years.
By 2024, the revenue in this market is projected to reach €53.48m and is expected to grow annually at a rate of 5.11%, resulting in a market volume of €68.61m by 2029.
It is estimated that the number of users in this market will amount to 3.23m users by 2029, with user penetration projected to be 22.8% in 2024 and 27.4% by 2029.
The average revenue per user (ARPU) is expected to be €20.58.
Looking further ahead, it is predicted that 100% of total revenue in the Ride-hailing market will be generated through online sales in Jordan by 2029.
It is worth noting that, in global comparison, China is expected to generate the most revenue in this market with an estimated revenue of €54,660m in 2024.
Despite the presence of international players, local ride-hailing companies like Careem dominate the Jordanian market due to their understanding of cultural nuances.

Key regions: South America, Europe, China, Saudi Arabia, Malaysia

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Ride-hailing market in Jordan has been experiencing significant growth in recent years.

Customer preferences: Customers in Jordan are increasingly turning to ride-hailing services due to their convenience and affordability. The ability to book a ride with just a few taps on a smartphone has made it a popular choice for many commuters. In addition, the availability of different types of vehicles, such as cars and motorcycles, allows customers to choose the option that best suits their needs.

Trends in the market: One of the key trends in the ride-hailing market in Jordan is the increasing adoption of cashless payment methods. This trend is in line with the global shift towards digital payments and offers customers a convenient and secure way to pay for their rides. In addition, ride-hailing companies in Jordan are investing in technology to improve their services. For example, some companies are using artificial intelligence to optimize routes and reduce waiting times for customers.

Local special circumstances: One of the factors driving the growth of the ride-hailing market in Jordan is the country's high population density. Jordan is a small country with a large population, and this makes it an ideal market for ride-hailing services. The congested traffic in major cities like Amman has also contributed to the popularity of ride-hailing services, as customers look for alternative transportation options to avoid the hassle of driving and finding parking.

Underlying macroeconomic factors: The ride-hailing market in Jordan is also influenced by macroeconomic factors. The country has a young and tech-savvy population, which is more likely to adopt new technologies and services. In addition, the government has been supportive of the ride-hailing industry, implementing regulations to ensure the safety and quality of service for customers. The relatively low cost of fuel in Jordan compared to other countries in the region also makes ride-hailing services more affordable for customers. In conclusion, the ride-hailing market in Jordan is experiencing significant growth due to customer preferences for convenience and affordability. The increasing adoption of cashless payment methods and investment in technology are driving the market forward. The high population density and congested traffic in major cities are also contributing to the popularity of ride-hailing services. The young and tech-savvy population, along with government support and low fuel costs, are underlying macroeconomic factors that are fueling the growth of the market.

Methodology

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.