Key regions: South America, Malaysia, China, Thailand, United States
The Public Transportation market in Bhutan is experiencing significant growth and development in recent years.
Customer preferences: Customers in Bhutan have shown a strong preference for public transportation due to several reasons. Firstly, the cost of owning and maintaining a private vehicle can be quite high in Bhutan, making public transportation a more affordable option for many individuals. Additionally, the limited availability of parking spaces in urban areas further encourages people to rely on public transportation. Furthermore, the government has implemented various initiatives to promote the use of public transportation, such as providing subsidies for bus fares and improving the overall quality and efficiency of public transport services.
Trends in the market: One of the key trends in the Public Transportation market in Bhutan is the increasing adoption of electric vehicles. The government has been actively promoting the use of electric vehicles as part of its commitment to reducing carbon emissions and combating climate change. This has led to the introduction of electric buses and taxis in major cities, providing a more sustainable and environmentally friendly mode of transportation. Moreover, the government has also implemented policies to incentivize the purchase and use of electric vehicles, such as tax breaks and subsidies. Another trend in the market is the integration of technology in public transportation services. Mobile applications and online platforms have been developed to provide real-time information on bus schedules, routes, and fares. This has greatly improved the convenience and accessibility of public transportation for passengers, allowing them to plan their journeys more efficiently. Additionally, the use of cashless payment systems, such as smart cards or mobile wallets, has become increasingly common, further enhancing the overall passenger experience.
Local special circumstances: Bhutan's unique geography and topography present certain challenges and opportunities for the Public Transportation market. The country's mountainous terrain and narrow roads require specialized vehicles and infrastructure to ensure safe and efficient transportation. The government has invested in the construction and maintenance of roads and bridges to improve connectivity between different regions, making public transportation more accessible to rural areas. Furthermore, the scenic beauty of Bhutan attracts a significant number of tourists, creating a demand for reliable and comfortable transportation options.
Underlying macroeconomic factors: The growth and development of the Public Transportation market in Bhutan can be attributed to several underlying macroeconomic factors. Firstly, the country's steady economic growth has increased the disposable income of individuals, allowing them to spend more on transportation services. Moreover, the government's focus on sustainable development and environmental conservation has driven investments in green transportation infrastructure and initiatives. Additionally, the increasing urbanization in Bhutan has led to a higher demand for efficient and reliable public transportation services in cities. In conclusion, the Public Transportation market in Bhutan is witnessing significant growth and development driven by customer preferences, such as affordability and convenience, as well as government initiatives to promote sustainable transportation. The adoption of electric vehicles and the integration of technology are key trends in the market, enhancing the overall passenger experience. Bhutan's unique geography and topography present both challenges and opportunities for the market, while underlying macroeconomic factors, such as economic growth and urbanization, contribute to the market's expansion.
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of public transportation.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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
