Halodoc: A Game-Changer in Indonesia's Health-Tech Sector – Ken Research

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Halodoc, Indonesia's premier digital health-tech platform, is rapidly expanding its reach, serving over 20 Mn monthly users and bringing accessible healthcare to millions of individuals throughout the vast archipelago, establishing itself as a leader in the industry.

STORY OUTLINE

• Jonathan Sudharta's mission to launch Halodoc in 2016, driven by technology-enabled healthcare access.
• prestigious awards received by Halodoc, such as the 2023 Marketeers Youth Choice Award and the 2022 Fortune Indonesia Change the World Award.
• Halodoc's successful funding rounds and diverse group of 18 investors and the recent investments are from Openspace and PT. Astra International Tbk.
• Halodoc’s received the "Most Innovative Start-Up" award from Galen Growth Asia and Forbes Indonesia's recognition.

Ranked as the 4th most populous nation globally, the Indonesian archipelago faces a significant challenge in healthcare accessibility. With a meager ratio of only 0.4 doctors per thousand residents, the availability of healthcare services remains limited. In 2016, Jonathan Sudharta embarked on a mission to launch Halodoc, driven by the vision of utilizing technology to facilitate convenient access to healthcare.

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• Awards: Halodoc's Secret to Immunity?

Halodoc, a trailblazer in Indonesia's digital healthcare industry, leads with ~20,000 experienced doctors available via chat, video, or voice calls. This year, Halodoc has been honoured with a series of esteemed awards. These accolades include the 2023 Marketeers Youth Choice Award, the 2022 Fortune Indonesia Change the World Award, the Katadata25: Game Changer in Digital Award, and the Indonesian government's 2023 PPKM Award, further cementing Halodoc's exceptional recognition in the industry.
Halodoc has secured funding from a diverse group of 18 investors, with Openspace and PT. Astra International Tbk being the latest additions to the list of investors.

• Building Immunity through Awards: Halodoc's Journey to Excellence

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Halodoc achieved notable recognition in the industry, being the sole health technology start-up from Southeast Asia featured on CB Insights' prestigious Digital Health 150 list in both 2019 and 2020. Additionally, Halodoc received the esteemed "Most Innovative Start-Up" award from Galen Growth Asia in 2018 and was handpicked as a "Choice Start-Up" by Forbes Indonesia. Halodoc has raised a total of ~$140Mn in funding over 4 rounds. Their latest funding was raised on Apr 21, 2021 from a Series C round. Halodoc has garnered an impressive user base of ~20Mn.

According to Ken Research, Halodoc is at the forefront of Indonesia's digital healthcare industry, tackling the crucial issue of healthcare accessibility. With their innovative platform and extensive network of experienced doctors, Halodoc utilizes technology to offer convenient healthcare services. Their esteemed awards underline their remarkable contributions, resilience, and ongoing commitment to transforming healthcare delivery and improving access for millions of Indonesians.

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Indonesia Health Tech Market

High Gear: Saudi Arabia Reigns Supreme in the Automotive Industry – Ken Research

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In recent times, there has been a resurgence in demand for Saudi Arabia's used car and after market segments. Experts project that the used car market is poised for steady growth, with a CAGR estimated to be around ~4% from 2019 to 2025.

STORY OUTLINE

• The Covid-19 pandemic caused a significant decline of ~60% in new car sales in 2020, leading to a surge in private vehicle ownership and the growth of the affordable used car market.
• Consumers in Saudi Arabia prioritize newer models and reputable brands with strong resale value when purchasing used cars for their commuting and travel needs.
• The used car industry in Saudi Arabia is experiencing growth, as indicated by the improvement in the used to new car ratio from around 50 in 2014 to around 2 in 2019.
• Online auto-classified platforms and marketplaces, such as Yalla, Open Souq, Abdulla Fouad, Motory, and SellAnyCar.com, play a significant role in facilitating used car transactions and driving market expansion.

The Covid-19 pandemic resulted in a sharp ~60% decline in new car sales in 2020, with the trend persisting for over a year. As the virus continued to spread, there was a noticeable surge in private vehicle ownership, driving the growth of the affordable used car market. Consumers sought out newer models and reputable brands known for their strong resale value to meet their commuting and travel needs. The pre-owned car industry in Saudi Arabia is experiencing a period of growth, as indicated by the improvement in the used to new car ratio. From ~1.50 in 2014, the ratio has increased to ~2 in 2019, reflecting the rising prominence of the used car market compared to new car sales.

1. Click, Compare, Buy: KSA's Digital Journey to Vehicle Ownership

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Across the nation, online auto-classified platforms and marketplaces are gaining widespread popularity as a growing trend. These platforms utilize cutting-edge technologies to offer consumers an enhanced experience. Notably, more than 10% of used car transactions are facilitated by independent dealers who have established digital marketplaces for buying and selling pre-owned vehicles. Key players in the used car market include Yalla, Open Souq, Abdulla Fouad, Motory, and SellAnyCar.com. To support SellAnyCar.com's expansion efforts, a unit of Saudi Arabia's sovereign wealth fund has provided ~$35 Mn in funding.

2. Shifting Gears: The Key Factors Accelerating the Surge in Used Car Sales

• Used Car Industry Poised for Growth with Rising Disposable Income and Online Platform Expansion.
• Young Workforce Surge: Saudi Arabia's burgeoning younger generation entering the workforce fuels the demand for used cars.
• Women Driving Transformation: The lifting of the ban on women drivers opens up new avenues, propelling the used car market.
• Disposable Income Dynamics: The decline in disposable income stimulates the search for cost-effective options, boosting the used car sector.
• Expatriate Bargain Hunters: Middle-income expatriates seeking better deals contribute to significant growth in the used car market.

3. Toyota's Resale Advantage: Fueling Highest Used Car Sales in 2019

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Toyota has emerged as a dominant force in the used car market in KSA, capturing the attention and preference of customers. One of the key factors contributing to Toyota's popularity is its reputation for better resale value, ensuring that customers can retain a significant portion of their investment when it comes time to sell. Additionally, Toyota vehicles are known for their low maintenance requirements, providing owners with peace of mind and cost savings over the long term. This combination of exceptional resale value and low maintenance has propelled Toyota to the top spot in used car sales, solidifying its position as a trusted and sought-after brand in the market.

The KSA used car market has witnessed significant growth due to the Covid-19 pandemic, shifting consumer preferences, and the rise of online platforms. Toyota's dominance in the market, with its better resale value and low maintenance, has fueled the highest used car sales, reflecting its strong position in the industry's expansion.

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KSA Used car Market

Future Outlook of Global Auto Finance Market: Ken Research

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What Is The Size Of Global Auto Finance Industry?

Global Auto Finance Market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028.

The Auto Finance Market is largely driven by increasing vehicle sales, easy loan availability, technological advancements, rising disposable income, the shift towards electric vehicles, leasing and subscription models, urbanization and mobility solutions, and government initiatives and incentives.

The accessibility of auto loans and the ease of obtaining them play a crucial role in the growth of the auto finance market. Financial institutions, including banks, credit unions, and specialized auto finance companies, provide loans with competitive interest rates and flexible repayment terms, making it convenient for individuals to finance their vehicle purchases.

The integration of technology in the auto finance sector has streamlined the loan application and approval processes. Online loan applications, digital documentation, and automated approval systems have made it more efficient for borrowers to obtain auto financing, which has boosted the market growth.

Rapid urbanization, coupled with the development of smart cities, has led to increased demand for mobility solutions. Ride-sharing platforms, car rental services, and other emerging mobility trends require robust auto finance systems to support their operations, contributing to market growth.

Furthermore, Governments worldwide has introduced incentives to promote vehicle sales, including subsidies, lower interest rates, or favorable tax policies.

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Global Auto Finance Market By Type

The Global Auto Finance market is segmented by Type into New cars, used cars and Motorcycles. New car type dominates the Global Auto Finance market in 2022. New car financing tends to have a larger market share due to higher demand and sales volume compared to used cars and motorcycles. Additionally, new car purchases often involve higher loan amounts, leading to a greater need for financing. The availability of attractive loan terms, competitive interest rates, and manufacturer incentives further contribute to the dominance of the new car segment in the auto finance market.

Global Auto Finance Market By Distribution Channel

The Global Auto Finance market is segmented by Distribution Channel into Banks & Subsidiaries, NBFC's, OEMS and Captives. Banks & Subsidiaries are the dominant segment in the market in 2022. Banks possess significant advantages such as established networks, extensive customer bases, and access to low-cost funding sources. Their financial stability, regulatory compliance, and ability to offer a wide range of financial services make them a preferred choice for many consumers seeking auto financing. Furthermore, banks often have long-standing relationships with customers, allowing for cross-selling opportunities and bundled financial products.

Global Auto Finance Market By Type Of Financing

The Global Auto Finance market is segmented by Type of Financing into Passenger Vehicles and Commercial Vehicles. Passenger Vehicle Segment dominates the market in 2022. Passenger vehicles, which include cars, SUVs, and minivans, generally have a larger market share compared to commercial vehicles such as trucks and vans. This dominance is due to the higher volume of passenger vehicle sales worldwide, driven by individual consumers and families purchasing vehicles for personal use. Additionally, passenger vehicle financing tends to involve smaller loan amounts, making it more accessible to a broader customer base, further contributing to its dominance in the auto finance market.

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Global Auto Finance Market By Purpose Type

The Global Auto Finance market is segmented by Purpose Type into Loans and Lease. Loan segment dominates the global auto finance market in 2022. Loans, which involve borrowing funds to purchase a vehicle with the intention of ownership, generally have a larger market share compared to leasing. This dominance can be attributed to the widespread preference for vehicle ownership among consumers worldwide. Loans provide individuals with the opportunity to own a vehicle outright, build equity, and customize or modify the vehicle to their liking. Additionally, loans offer more flexibility in terms of vehicle usage and mileage compared to lease agreements.

Global Auto Finance Market By Tenure

The Global Auto Finance market is segmented by Tenure into      1 year, 2 years, 3 years, 4 years & 5 year and above. 3 years tenure is the most preferred by the customers globally in 2022. A 3-year tenure is commonly preferred by many consumers for auto financing due to several factors. It strikes a balance between affordability and loan term duration, allowing borrowers to spread out their payments over a reasonable period. Additionally, a three-year tenure aligns well with the average ownership cycle of vehicles, providing borrowers with an opportunity to trade in or sell their vehicles without significant negative equity.

Global Auto Finance Market By Region

The Global Auto Finance market is segmented by Region into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America is the most dominant region in the market in 2022. North America, comprising countries such as the United States and Canada, is the significant market for auto financing. The region has a high level of vehicle ownership, a well-established banking sector, and a strong culture of car ownership. Additionally, the availability of diverse financing options, competitive interest rates, and a robust dealer network contribute to the dominance of North America in the global auto finance market.

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Competition Scenario In Global Auto Finance Market

The global auto finance market is highly competitive, with numerous financial institutions and specialized auto finance companies vying for market share. Players in the market compete based on factors such as competitive interest rates, flexible loan terms, diverse financing options, quick loan processing, superior customer service, and innovative digital experiences.  Additionally, offering specialized financing solutions for electric vehicles, lease and subscription models, and partnerships with dealerships and original equipment manufacturers (OEMs) are key strategies to gain a competitive edge. The market is driven by continuous efforts to provide customers with attractive financing packages while adapting to changing consumer preferences and technological advancements. Some of the Major Players in the market are BMW Financial Services, Toyota Financial Services, GM Financial and Honda Financial Services.

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Global Auto Finance Market

Related Report by Ken Research: –

Philippines Auto Finance Market Outlook to 2027

Thailand Auto Finance Market Outlook to 2026F

UAE Auto Finance Market Outlook to 2026F

Auto Finance Market Is Expected To Grow At A CAGR Of 11.4% By 2027. Will The Philippines Auto Finance Market Stand On This Expected Figure? : Ken Research

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1. 60% of the mobile and internet users had an online financial transaction in the past and accounts with NGOs and cooperatives were primarily transacted over-the-counter (OTC).

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• Increased use of online banking/mobile apps reflects a progressive shift towards digital payments. These online payment channels helped in weathering movement restrictions imposed by months of COVID-19 lockdown measures.
• Adults who were uncomfortable using online platforms were worried about the possibility of losing money due to hacking and inadvertent transactions (i.e., transfer to wrong account). To address these concerns, FSPs are improving their security measures to ensure that users are shielded from fraudulent transactions.

Trends and Developments in Philippines Auto Finance Market

2. Incentives provided for development and Deployment of Electric Vehicles in Philippines.

• Electric Vehicle Industry Development Act (EVIDA) gave incentives to electrified vehicles pushing for lower to zero-emission vehicles as well as improving EV charging infrastructure network.
• EV players consist of 54 manufacturers/importers, 11 parts manufacturers, and 18 dealers/traders. There are 19 charging stations, mostly in the main island of Luzon.
• In 2018, there were about 7,000 registered EVs for local use in the country according to Land Transportation Office (LTO).
• The Electric Vehicle Association of the Philippines (EVAP) forecasts an annual growth rate of 8-12% that will produce P1.68 B ($33.6 M) revenue from services and sales of 200,000 units by 2024.

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3. Major Regulatory Authorities & Associations

Bangko Sentral ng Pilipinas: The central monetary authority in charge of regulating money, banking and credit in the Philippines.

Bankers Association of the Philippines: A non-profit organization that frames rules and regulations in co-operation with the Central Bank that will help in efficiency and effectiveness of banking services.

Securities and Exchange Commission: The national government regulatory agency charged with supervision over the corporate sector, capital market participants, and securities and investment instruments market, and protection of the investing public.

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Philippines Auto Finance Market

Will Indonesia's Health Tech Market Experience ~IDR5500 Bn by 2025? : Ken Research

 With the Indonesian population becoming more technologically savvy and shifting from conventional healthcare methods to contemporary health tech services, there is an expected upswing in the demand for health tech.

STORY OUTLINE

• Impressive user base of over 30 Mn monthly active users and network of 40,000 qualified doctors.
• Partnerships between domestic health tech platforms and healthcare professionals to ensure access to doctors through digital platforms.
• In Indonesia ~220 Mn individuals projected to rely on the public universal healthcare program provided by BPJS.
• Partnerships between health tech startups and a vast network of 20,000 doctors, 1,000 hospitals, and clinics.

In 2021, it was discovered that ~65% of participants allocated less than 100 thousand Indonesian rupiah towards digital health applications. With over ~30 Mn monthly active users and a network of over ~40,000 qualified doctors, the health-tech platform has established itself as the foremost telemedicine application in Indonesia.

1. Calling Doctors: Indonesia's Growing Need for Doctors

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Increasing demand for doctors and healthcare practitioners on platforms. More partnerships with doctors, rising budgets in hospitals, and entry of healthcare IT providers will drive the industry's revenue growth. To ensure access to doctors through platforms, domestic platforms are forming partnerships with a growing roster of healthcare professionals. Indonesia suffers from a significant shortage of doctors. Based on 2021 World Health Organization statistics, Indonesia's doctor-patient ratio stood at 2.1 doctors per 10,000 patients, significantly lower than the recommended 1:600 ratio.

2. Collaboration Roadmap: Partnering with Ecosystems for Long-Term Success?

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Roughly half of the Indonesian population, totaling ~220Mn individuals, is projected to rely on the public universal healthcare program provided by BPJS. The Indonesia Health Tech Market is the sum total of revenue of E-pharmacy, Appointment booking platforms, tele-medicine platforms and IT solution providers for healthcare.Indonesia health Tech projects will involve collaboration with a network comprising 20,000 doctors, along with 1,000 hospitals and clinics.

3. Indonesia's Health Tech Titans in Action

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The bankruptcy of Proteus Digital Health, previously valued at $1.5 Bn, serves as a wake-up call for aspiring digital health unicorns. digital-first players like Halodoc and Alodokter have been scaling up tech platforms to offer a growing portfolio of digital health services. In 2019, health data in Indonesia reached a reported value of ~120,100 Tn IDR, demonstrating an increase from the previous figure of ~111,000 Tn IDR in 2018. The government's health budget is regularly updated on an annual basis, with an average of 40,000 Tn IDR from December 2005 to 2019.

According to Ken Research, Indonesia's health-tech industry has witnessed significant growth and has established itself as a leading telemedicine application with a large user base and a network of qualified doctors. Partnerships with healthcare professionals and collaborations with the public healthcare program have contributed to its success.

Watson vs. Boots: Battling for Dominance in Thailand's Pharmacy Market: Ken Research

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Intense Competition Ignites Growth Stage in Thailand's Pharmacy Market as Watson and Boots Vie for Dominance. The market witnesses a surge in competition among retail pharmacies, characterized by extensive product offerings and value-added services.

STORY OUTLINE

• Watsons and Boots are major contenders in Thailand's fragmented pharmacy market, which houses over 12,000 pharmacies.
• Watsons, with a 176-year history, has a global presence with 6,200 locations across 11 countries.
• Boots, in a competitive move, aims to launch 30 new outlets and enhance its popular Botanic line through a revamp.
• According to Ken Research, In terms of financial performance, Watsons outshines Boots in Thailand.

Watson and Boots emerge as major contenders in Thailand's pharmacy market, which is currently characterized by significant fragmentation, housing over 12,000 pharmacies. Central Watson Co, the operator of Watsons specialty stores in Thailand, has allocated THB350 Mn to expand its presence with the opening of 50 new stores, store renovations, brand building, and customer relationship management. In a competitive move, Boots Retail (Thailand) Co, an archival, plans to launch 30 new outlets this year and enhance its popular Botanic line through a revamp.

1. From Humble Beginnings to Global Powerhouse

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Watsons, founded in Hong Kong 176 years ago, quickly emerged as a leading health and beauty retailer in Asia and Europe. Today, it boasts a staggering 6,200 locations across 11 countries, making it a powerhouse in the industry. On the other hand, Boots, with a history dating back 168 years in England, started as an herbal pharmacy and has diversified into various sectors over the years, including home furnishing and dentistry. However, it operates fewer branches globally, with around 3,117 stores in six countries.

2. Watsons vs. Boots in Thailand: 500+ Branches, One Clear Winner!

In Thailand, Watsons entered the scene 27 years ago, opening its first branch in the Maneeya Center. Since then, it has rapidly expanded its footprint and currently operates an impressive 500+ branches across the country. In comparison, Boots arrived in Thailand a year later, establishing its first outlet in 1997. While still a strong contender, it operates 300+ branches in Thailand, placing it behind Watsons in terms of market presence.

3. Boots vs. Watson: A Tale of Financial Contrasts!

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When it comes to financial performance in Thailand, Watsons' figures speak for themselves. In 2019, Central Watson Company Limited, a subsidiary under the CK Hutchison Holdings Limited, reported a remarkable total revenue of ~$580 million. Meanwhile, Boots Retail (Thailand) Co., Ltd, a subsidiary of Walgreens Boots Allianz, recorded a total revenue of ~$240 million during the same period. These numbers clearly indicate Watsons' significant edge in terms of turnover in the Thai market.

Watsons and Boots have established themselves as major contenders in Thailand's pharmacy market. With Watsons' expansive global presence, boasting 6,200 locations across 11 countries, and its dominant market presence in Thailand with 500+ branches, it holds a significant advantage. Financially, Watsons also outshines Boots in terms of total revenue. As the competition continues to unfold, both companies are vying for market share and striving to meet the evolving needs of Thai consumers. With their respective strategies and brand offerings, they aim to capture the attention and loyalty of Thai consumers, further shaping the landscape of the pharmacy industry in the country.

In 2022, the number of vehicles funded rose to ~1,600 Th units. Will future growth of this number be supported by the Philippines Auto Loan Market? Ken Research

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1. The rising consumption, availability of auto loans and initiatives by automakers restored the market after Covid-19 pandemic.

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• The vehicle registration data reflect the overview of number of vehicles present in the market. Gradual increase in car parc size in industry can be attributed to the restoration of consumption and the initiatives of banks in providing consumer durable loans, post-covid.
• Launch of new models and initiatives to support electric vehicle adoption in Philippines by automakers stimulate the consumer interest in autos. Companies have started focusing on increasing the volume along with preserving the margin. Promos are focused on value enhancement than price.

Trends and Developments in Philippines Auto Finance Market

2. Introduction of Comprehensive Tax Reform

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• The passage of the Comprehensive Tax Reform Bill will adjust the excise tax on automobiles increasing their cost and makes motorcycles more affordable than cars.
• The Comprehensive Tax Reform Program will help the economy grow by 3% by 2022. GDP will be boosted as a result of higher household consumption due to lower income tax and the cash transfers. Increased economic activity will be buoyed by increased household consumption and higher investments.
• The motor vehicle users charge (MVUC) or Package 1C of the Comprehensive Tax Reform Program was introduced to provide adequate funding for the maintenance of national and provincial roads. It also aims to address air pollution from motor vehicles.

3. Major Partnerships of Auto Finance Players

• Lazada sellers can avail of SB Finance’s multi-purpose loans through a hassle-free application and a low interest rate of 1.8%. Sellers may avail of up to 12-month payment schemes and can expect funds to be credited within 3 banking days.
• Security Bank Corporation’s consumer finance arm SBF has partnered with Grab Philippines to offer personal loans to Grab users, driver-partners, and merchant-partners through the Grab super app.
• SB Rental Corp. is in a partnership with Cats motors inc., the principal dealer of Mercedes Benz locally to offer operating lease options for the acquisition and use of Mercedes Benz vehicles.
• The partnership, which started in 2016, began with global bank MUFG acquiring a 20% stake in Security Bank for PHP 36.9 Bn. Since then, the two lenders have capitalized on its partnership by bringing top-notch products and services to customers.

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Philippines Auto Finance Market

India's Rental Two-Wheeler Industry Set to Double in Size: Ken Research

 The Indian two-wheeler rental market, valued at USD ~38 Mn in 2021, is set to grow rapidly due to factors like tourism, urbanization, digitalization, migration, micro-mobility, traffic congestion, and cost-effective alternatives to owning and maintaining two-wheelers.

STORY OUTLINE

• The Indian rental two-wheeler market is experiencing significant growth due to increasing tourism, urbanization, digitalization, migration, micro-mobility trends, traffic congestion, and cost-efficient alternatives to owning two-wheelers.
• Electrification is driving demand in the rental industry, with e-vehicles being actively incorporated. Adoption rates for electric two-wheelers have risen in leading states like Goa, Kerala, Karnataka, and Maharashtra surpassing the national average.
• The market is highly fragmented, with approximately 15,000 unorganized companies in 2020. Intense competition among organized players has led to a pricing war, resulting in negative margins and high burn rates.
• Key players such as Bounce, Yulu, Vogo, and Drivezy are strategically focusing on scooters to reduce capital expenditure and increase profitability in the rental two-wheeler market.
• Ken Research reports that ~70% of rental two-wheeler bookings are made by males, who exhibit a neutral preference between renting commuter bikes (with higher mileage and lower prices) and scooters.

The Indian rental two-wheeler market is experiencing significant growth due to factors such as increasing tourism, urbanization, digitalization, migration, micro-mobility trends, traffic congestion, and cost-efficient alternatives to owning and maintaining two-wheelers. rapid urbanization in India has resulted in increased transportation needs. Renting two-wheelers offers a cost-effective and efficient solution for short-distance commuting within cities. Currently, there are approximately 30 organized players in the Indian rental two-wheeler industry. These companies are strategically targeting specific geographical areas and diversifying their services and vehicle offerings to cater to the rental market.

1. Electrification Drive: E-Vehicle Entry Accelerates Demand in the Rental Industry

Electric Vehicles Catching up the Demand

E-Vehicle Entry Sparks Electrification Drive. India's electric two-wheeler market is growing steadily, with adoption rates rising to 5.63% in May 2023 from 4.05% in 2022. Leading states like Goa, Kerala, Karnataka, and Maharashtra have surpassed the national average. With a goal of 80% EV penetration by 2030, the rental industry is actively incorporating e-vehicles, accelerating demand and driving the electrification wave. Up to 392,681 of the 6.98 million two-wheelers sold in India this year till May 31 were electric.

2. Freedom on Two Wheels: Increasing Demand for Motorcycle Rentals in Tourist Spots

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Due to the advantages of personalized and affordable transportation, domestic tourists in India are increasingly opting for two-wheelers. In the fiscal year 2020, there were ~10.2 million foreign tourist arrivals in India, along with a staggering ~2 billion domestic tourist visits to various states. Youngsters in particular are showing a growing interest in road trips and adventure tourism, exploring destinations such as Leh & Ladakh, Manali, Udaipur, Bhutan, and Goa. It is worth noting that India has a youthful population, with over 50% below the age of 25 and more than 65% below the age of 35. This demographic, coupled with a burgeoning entrepreneurial culture, has significantly contributed to the rise of shared mobility solutions.

3. Race to the Top: Competitive Landscape Heats Up in the Two-Wheeler Rental Sector

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The market is characterized by fragmentation, with a relaxed regulatory environment and a limited presence of organized companies. In the fiscal year 2020, there were approximately 15,000 unorganized companies operating in the market, collectively capturing around 25% of the market share in terms of Gross Transaction Value. The competition among organized players is intense, leading to a pricing war for various models, ultimately resulting in negative margins and a high burn rate. Key companies like Bounce, Yulu, Vogo, and Drivezy are strategically focusing on scooters as a means to reduce overall capital expenditure and increase profitability.

The Indian rental two-wheeler market is experiencing substantial growth due to factors like increasing tourism, urbanization, and the need for cost-effective transportation. With approximately 30 organized players, the market is diversifying to cater to specific regions and incorporating electric vehicles. Motorcycle rentals are popular among domestic tourists, but intense competition and fragmentation persist. Opportunities exist for innovative strategies in this evolving landscape.

Banking on Dreams: More than 28,000 Number of Residential Real Estate Loans Fuelling New Housing Units in the Philippines in 2022. Will Philippines continue this growth trajectory? Ken Research

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1. Philippines' Real Estate Market Soars: Property Prices Reach New Heights

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Property values in the Philippines are rising remarkably, with a sizable increase observed throughout the real estate sector. Property prices have reached unheard-of heights as demand for homes and investment options rises steadily, showing a robust and vibrant market in the nation.

• After rising by 6% YoY the previous quarter, Philippine home prices increased by 6.5% YoY in September 2022.
• Data on year-over-year growth is provided from Mar 2015 through Sep 2022 and is updated quarterly with an average growth rate of 3.9%.
• Data on home prices peaked at 26.6% in June 2020 and fell to a record-low -9.4% in June 2021.

Dive into the Reports Uncovering the Dynamics of the Philippines Home Finance Industry

2. Unlocking the Potential: Exploring the Booming Home Finance Industry Driven by Pent-Up Demand for houses in the Philippines

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Nowhere are the effects of the Philippines’ sustained economic growth more apparent than in the construction industry, which is benefitting from pent-up demand and a positive outlook for future growth. This favourable momentum has driven the industry to one of the country’s highest growth rates, with data from the Philippine Statistics Authority (PSA) reporting growth of 11% in 2014, 10.4% in 2015 and a jump to 14.6% in 2016.

As a result, the construction industry’s economic contribution has increased from P802.9bn ($17 Bn) in 2014 – worth 6.3% of national GDP – to P1trn ($21.5 Bn) in 2016, comprising 7% of GDP.

Learn more about the rising boom in for home demands in Philippines

3. When it comes to home loans, the first thing that comes to mind is the Pag-IBIG Fund

When it comes to home loans, the first thing that comes to mind is the Pag-IBIG Fund. A strong testament to that is its ₱100.08 Bn worth of home releases in 2021. It seems the momentum continues, as the state-run home development mutual fund projects will reach ₱105 Bn by the end of 2022.

Without a doubt, many Filipinos choose Pag-IBIG to finance their dream home. However, banks also offer home loans with competitive rates and flexible terms. The number of choices can be overwhelming, some of which are RCBC, Union bank, Security Bank Housing loans, AUB bank, China bank home plus, HSCBC Home Loan, Maybank and PNB etc.

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Philippines Home Finance Market

Smart Logistics-Smarter India: Exploring the Potential of the New Gen Market: Ken Research

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India, the world's 5th largest economy, holds the 44th position on the Logistics Performance Index, achieving a score of 3.18. India's Union Budget 2023 has brought with it a number of opportunities and challenges for the logistics sector.

STORY OUTLINE

• Indian government's initiatives aim to revolutionize the logistics sector, including a Logistics Master Plan, National Logistics Policy, and PM Gati Shakti initiative.
• Emphasis on infrastructure development through programs like GatiShakti, Bharatmala, and Sagarmala, to enhance transportation and logistics operations.
• Technology-driven solutions like blockchain, big data, and digital twins are being adopted to improve transparency, efficiency, and goods movement.
• Efforts to attract private investments in the logistics sector, supported by administrative reforms and the ambitious National Infrastructure Pipeline.
• Focus on strengthening international connectivity through coastal shipping, fostering enhanced relations with Southeast Asian nations.

The announcement of India's Union Budget for 2023 has stirred the logistics sector, triggering a response to the fresh opportunities and challenges it brings forth. India's logistics costs have reduced than those of developed countries by a staggering ~40%. After China, the United States, and Russia, India holds the 4th position globally in terms of railway freight traffic. The government's initiative to connect the National Capital Region (NCR) with the Eastern and North Eastern states through coastal shipping and is fostering enhanced international relations with Southeast Asian nations.

1. Logistics Revolution: Government's Bold Steps to Drive Sector Growth

Government's Bold Initiatives to Drive Sector Growth Today

Cutting down domestic income tax rates from 30% to 22% aims to stimulate business growth for domestic companies. The government has taken multiple initiatives to enhance the logistics sector, including the implementation of a Logistics Master Plan, the formulation of a National Logistics Policy, the establishment of National Multimodal Facilities and Warehousing, and the introduction of the National Logistics Workforce Strategy. The government has rolled out a national logistics policy and PM Gati Shakti initiative to boost the competitiveness of the industry and cut logistics costs.

2. Logistics in the Limelight: The Budget's Strategic Investments Unveiled

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Budgetary provisions encompass a range of measures aimed at invigorating the economy and generating employment opportunities. Notably, there is a strong emphasis on infrastructure development, which is poised to yield substantial benefits for the logistics sector. The Indian freight transportation industry is experiencing rapid growth to meet the demands of an increasing consumer base. According to NITI Ayog, India currently transports a staggering 4.6 Bn tonnes of freight each year, resulting in a transport demand of 2.2 Tn tonne-kilometres and an expenditure of Rs 9.5 lakh crore.

3. Tech-Forward Transformation

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Global supply chain disruptions and sustainability concerns drive widespread adoption of technology-driven solutions like blockchain, big data, cloud computing, and digital twins. Although India's adoption is relatively low, the government introduces digital solutions like ICEGATE and E-Logs, enhancing transparency, efficiency, and expediting goods movement.

4. Attracting Investments: Infrastructure the Key to Unlocking Opportunities

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The Government of India launches infrastructure programs like GatiShakti, Bharatmala, and Sagarmala, focusing on roads, railways, and ports. Administrative reforms and private investments support these initiatives. The ambitious National Infrastructure Pipeline targets INR ~50 lakh crore investments. While 100% FDI is permitted in most transport infrastructure, concerted efforts are essential to maximize its impact and realize the desired outcomes in fast-tracking infrastructure development.

India's Union Budget for 2023 ushers in a logistics revolution with bold steps to enhance the sector's growth. Infrastructure development, tech-forward transformations, attracting investments, and fostering international relations are key highlights, poised to reshape India's logistics landscape and drive economic progress.