The African shared mobility market is set to almost double in size to $8bn by 2030, according to a new study from the strategy consulting firm Oliver Wyman, informed by data made available for the first time by market leader Bolt.
Digging Deeper
New findings from Oliver Wyman now show Africa as one of the fastest-growing global region for shared mobility, forecast to grow from a market size of $4.2bn today to $7.8bn in 2030, at a growth rate of 9% a year. The study highlights the potential for the sector to support ongoing transport development in Africa, which is set to house five of the world’s 41 ‘megacities’ by 2030.
By The Numbers
This growth of shared mobility is forecast to double the amount of earnings opportunities connected to the sector from 507,000 to 1.07 million by 2030.
The majority of these will come from ride-hailing driving, where the study shows driver earnings can be 130% higher than comparable roles, though vehicle ownership is a critical factor, with 76% of drivers “really enjoying” their role and 84% driving despite being well qualified for an alternative professional career.
What They’re Saying
“Bolt saw the potential for shared mobility early in Africa, and we are proud to sit at the forefront of its development across Africa,” Bolt Director of Rides, Africa, Caroline Wanjiha said.
“Ride-hailing is already supporting higher functioning transport systems, but it is important that the services work for the benefit of all. We also need continued focus to partner with cities on areas such as data sharing that helps us create the systems of the future and leapfrog other parts of the world.”
Dr Andreas Nienhaus, Partner, Automotive and Mobility, Climate and Sustainability at Oliver Wyman, said: “Shared mobility is already set to rise from 3% to 7% of journeys in urban areas by 2030, while its total market size is forecast to reach close to $400bn billion globally. The African market is the most interesting we study; it retains significant challenges but shared mobility can support ongoing infrastructure development to radically change the journey mix”.
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