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Finland is projected to see a revenue of US$326.70m in the Ride-hailing market by 2024, with an annual growth rate (CAGR 2024-2029) of 2.85%, resulting in a projected market volume of US$376.00m by 2029.
The number of users in this market is also expected to rise, reaching 1.70m users by 2029.
The user penetration rate is projected to be 28.0% in 2024 and 30.5% by 2029.
The average revenue per user (ARPU) is expected to be US$210.40.
The Ride-hailing market is an online-only market.
When compared globally, the majority of revenue will be generated China, with a projection of US$60bn in 2024.
In Finland, ride-hailing services are dominated by two major players, Uber and Taksi Helsinki, with traditional taxi companies struggling to keep up with the convenience and lower prices offered by these app-based services.

Definition:

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. It includes Transportation Network Companies (TNCs), such as Uber and Lyft, traditional taxis booked via apps, such as Free Now or Cabify, and ride-pooling services, such as Moia and Via. This market excludes peer-to-peer ride-sharing, focusing on professionally operated transport services booked digitally for efficient and convenient urban mobility. Rides of traditional taxi services hailed on the street or booked via telephone are not included in this market.

Additional Information:

The main performance indicators of the Ride-hailing 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 mentioned market. 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.

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.

Platforms that let users book rides offered by drivers using their private vehicles (e.g., Uber)
Taxi companies that offer their services through an app (e.g., Free Now)
Platforms that offer shared rides (ride-pooling) with other passengers (e.g., Moia, Via)

Traditional taxi rides booked offline with taxi companies (via street-hailing or by telephone)

The Ride-hailing market in Finland has experienced significant growth in recent years, driven by changing customer preferences and the emergence of new trends in the market.

Customer preferences: In Finland, customers have increasingly embraced ride-hailing services as a convenient and efficient mode of transportation. With the rise of smartphone usage and the availability of user-friendly ride-hailing apps, customers now have the ability to easily book and track rides, making the process more convenient than traditional taxi services. Additionally, the transparent pricing and cashless payment options offered by ride-hailing companies have resonated with customers, further contributing to the popularity of these services.

Trends in the market: One of the key trends in the Finnish ride-hailing market is the growing demand for eco-friendly transportation options. As sustainability becomes an important consideration for consumers, ride-hailing companies have responded by introducing electric and hybrid vehicles into their fleets. This not only aligns with customer preferences for environmentally friendly transportation, but also helps to reduce carbon emissions and promote a greener future. Another trend in the market is the increasing focus on safety and security. Ride-hailing companies have implemented stringent background checks and safety measures to ensure the well-being of both drivers and passengers. This has helped to build trust and confidence in the industry, attracting more customers who prioritize safety when choosing their transportation provider.

Local special circumstances: Finland's unique geographical and demographic characteristics have also influenced the development of the ride-hailing market. With its vast rural areas and scattered population, traditional taxi services have struggled to provide efficient and cost-effective transportation options. Ride-hailing services have filled this gap by offering reliable and affordable rides in areas where taxis are scarce. Additionally, the high level of smartphone penetration in Finland has made it easier for ride-hailing companies to reach and connect with customers across the country.

Underlying macroeconomic factors: The strong digital infrastructure and high internet penetration in Finland have played a crucial role in the growth of the ride-hailing market. With reliable internet connectivity, customers can easily access ride-hailing apps and book their rides, contributing to the overall convenience and popularity of these services. Furthermore, Finland's stable economy and high disposable income levels have allowed customers to embrace ride-hailing as a viable alternative to traditional transportation options. In conclusion, the ride-hailing market in Finland has experienced significant growth due to changing customer preferences, the emergence of new trends, and the unique local circumstances. With a focus on convenience, sustainability, and safety, ride-hailing companies have been able to cater to the needs of Finnish customers and provide them with efficient and reliable transportation options. Additionally, the strong digital infrastructure and favorable macroeconomic factors have created a conducive environment for the growth of the ride-hailing market in Finland.

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.