Africa’s shared mobility market is set to nearly double in size to $8 billion by 2030, according to a new study from strategy consultancy Oliver Wyman, informed by data available for the first time from the market leader Bolt.
Digging deeper
New findings from Oliver Wyman now show Africa as one of the world’s fastest-growing regions for shared mobility, predicted to grow from market size of $4.2 billion today to $7.8 billion in 2030;with growth rate 9% per year. The study highlights the sector’s potential to support continued transport growth in Africa, which is set to house five of the world’s 41 “megacities” by 2030.
By The Numbers
This increase in shared mobility is projected to double the amount of earning opportunities associated with the industry from 507,000 to 1.07 million by 2030.
The majority of this will come from driving, where the study shows drivers’ earnings can be 130% higher than comparable roles, although vehicle ownership is a critical factor, with 76% of drivers “really enjoying” the role and 84% drive despite being well qualified for an alternative career.
What they say
“Bolt saw the potential for shared mobility early in Africa and we are proud to be at the forefront of its development across Africa.” Bolt Rides Director, Africa, Caroline Wanjiha he said.
βRide-hailing already supports higher-functioning transport systems, but it’s important that services work for everyone’s benefit. We also need a continued focus to work with cities in areas such as data sharing that helps us build the systems of the future and outperform other parts of the world.β
Dr Andreas Nienhaus, Partner, Automotive and Mobility, Climate and Sustainability at Oliver Wyman, he said: βShared mobility is already expected to grow from 3% to 7% of trips in urban areas by 2030, while the total market size is predicted to reach close to $400 billion worldwide. The African market is the most interesting we study. remains significant challenges, but shared mobility can support continued infrastructure development to fundamentally change the travel mix.”
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