Key regions: South America, Malaysia, China, Thailand, United States
The Public Transportation market in BRICS countries is experiencing significant growth and development due to various factors.
Customer preferences: Customers in BRICS countries are increasingly opting for public transportation due to its affordability, convenience, and environmental benefits. With rising urbanization and population growth, there is a growing demand for efficient and reliable transportation systems. Public transportation offers a cost-effective solution for commuting in congested cities and reduces the reliance on private vehicles, which helps alleviate traffic congestion and reduce carbon emissions. Additionally, the younger generation, in particular, is more inclined towards sustainable modes of transportation, further driving the demand for public transportation.
Trends in the market: One of the key trends in the public transportation market in BRICS countries is the adoption of smart technologies and digital platforms. This includes the integration of mobile applications for ticketing, real-time tracking of buses and trains, and the implementation of smart card systems for seamless travel across different modes of transportation. These technological advancements enhance the overall customer experience and improve the efficiency of public transportation services. Another trend is the expansion and modernization of existing public transportation infrastructure. BRICS countries are investing heavily in the development of new metro and light rail systems, as well as the improvement of bus networks. This includes the construction of new lines, the introduction of modern rolling stock, and the implementation of advanced signaling and control systems. These infrastructure upgrades aim to provide faster, safer, and more comfortable travel options for commuters.
Local special circumstances: Each BRICS country has its own unique set of circumstances that influence the development of the public transportation market. For example, in Brazil, the government has been investing in the expansion of the metro systems in major cities like São Paulo and Rio de Janeiro to address the transportation needs of the growing urban population. In Russia, the development of the Moscow Metro has been a priority, with new lines and stations being added to improve connectivity within the city. In India, the government has launched several initiatives to promote public transportation, such as the Smart Cities Mission and the Atal Mission for Rejuvenation and Urban Transformation (AMRUT). These programs aim to improve urban infrastructure, including public transportation systems, in order to create sustainable and livable cities. China, on the other hand, has been investing heavily in high-speed rail networks, connecting major cities and regions, which has significantly improved intercity transportation.
Underlying macroeconomic factors: The growth of the public transportation market in BRICS countries is also influenced by underlying macroeconomic factors. Economic growth and rising disposable incomes contribute to increased demand for transportation services. As more people can afford to travel, the demand for public transportation options also increases. Additionally, government policies and investments play a crucial role in the development of the public transportation sector. Governments in BRICS countries are recognizing the importance of investing in sustainable transportation infrastructure to support economic growth, reduce congestion, and mitigate environmental impacts. In conclusion, the Public Transportation market in BRICS countries is witnessing significant growth and development driven by customer preferences for affordable and sustainable transportation options. The adoption of smart technologies, expansion of infrastructure, and government initiatives are key trends shaping the market. Each BRICS country has its own unique circumstances that influence the development of the public transportation sector. Underlying macroeconomic factors, such as economic growth and government investments, also play a crucial role in driving the market forward.
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.
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