Public Transportation - Colombia | Statista Market Forecast

Colombia is projected to reach a revenue of US$1.10bn in the Public Transportation market by 2024.
The revenue is expected to grow annually at a rate of 2.46%, resulting in a projected market volume of US$1.24bn by 2029.
By 2029, the number of users in the Public Transportation market is expected to amount to 34.37m users.
The user penetration is projected to be 59.4% in 2024 and 63.8% by 2029.
The average revenue per user (ARPU) is expected to be US$35.26.
By 2029, 21% of the total revenue in the Public Transportation market will be generated through online sales.
It is worth noting that in global comparison, United States will generate the most revenue (US$52bn in 2024).
Colombia's public transportation sector is undergoing a transformation with the implementation of new technologies and infrastructure improvements.

Definition:

Local public transportation is used to transport people in everyday traffic by road, water, railway tracks, and sometimes by air (cable car) for local and regional transportation. In this market, revenues generated by ticket sales from public transportation companies, such as BVG (Berlin Transport Company), TfL (Transport for London), or Toei (東京都交通局: Tokyo Metropolitan Bureau of Transportation) are considered. Most providers sell single and group tickets or time-limited tickets for up to one year. This market does not take long-distance public transportation with national travel offerings into consideration.

Additional Information:

The main performance indicators of the Flights market are revenues, average revenue per user (ARPU), user numbers and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the above-mentioned markets. User numbers show only those individuals who have made a reservation, independent of the number of travelers on the booking. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

The booking volume includes all booked rides made by users from the selected region, regardless of where the ride took place.

For further information on the data displayed, refer to the info button right next to each box.

Local and regional public transportation by road, water, rail, and air
Regular transportation by bus, train, tram, subway, suburban trains, ferries, cable car, and trolleybus
All online and offline bookings for public transportation tickets and subscriptions, irrespective of the sales channel
Time-limited subscriptions and single tickets

Tickets for long-distance public transportation with nationwide travel offers
Private transportation
Freight transportation

The Public Transportation market in Colombia is experiencing significant growth and development. Customer preferences are shifting towards more sustainable and efficient modes of transportation, leading to increased demand for public transportation options. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the expansion of the market. Customer preferences in Colombia are increasingly focused on sustainability and efficiency. With growing concerns about climate change and environmental impact, customers are seeking alternatives to private vehicles. Public transportation offers a more sustainable option, reducing carbon emissions and congestion on the roads. Furthermore, public transportation provides a more efficient way to travel, especially in urban areas with heavy traffic. Customers value the convenience and time-saving benefits of using public transportation, which is often faster and more reliable than driving. Trends in the market reflect these changing customer preferences. The government is investing in the expansion and improvement of public transportation infrastructure across the country. This includes the development of new metro and tram systems, as well as the expansion of bus networks. These investments aim to provide more reliable and efficient public transportation options, making it an attractive choice for customers. Additionally, the government is implementing policies to promote the use of public transportation, such as dedicated bus lanes and discounted fares for certain groups of people. Local special circumstances in Colombia also contribute to the growth of the Public Transportation market. The country has a high population density, especially in urban areas, which creates a need for efficient transportation systems. Public transportation is a cost-effective solution for many Colombians, particularly those with lower incomes who may not be able to afford private vehicles. Additionally, Colombia has a large informal sector, with many people relying on public transportation for their daily commute to work. This further drives the demand for accessible and reliable public transportation options. Underlying macroeconomic factors also play a role in the development of the Public Transportation market in Colombia. The country has experienced steady economic growth in recent years, leading to an increase in disposable income for many individuals. This has resulted in a higher demand for transportation services, including public transportation. Furthermore, urbanization and population growth contribute to the need for expanded public transportation networks to accommodate the growing number of residents in cities. In conclusion, the Public Transportation market in Colombia is developing due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. Customers are increasingly seeking sustainable and efficient transportation options, leading to increased demand for public transportation. The government is investing in infrastructure and implementing policies to improve public transportation systems. The high population density, reliance on public transportation in the informal sector, and economic growth further contribute to the expansion of the market.

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.