Public Transportation - Georgia | Statista Market Forecast

Georgia's Public Transportation market is expected to witness a significant growth in its revenue, with a projected value of US$124.70m in 2024.
The market is anticipated to grow annually at a rate of 4.20% between 2024 and 2029, which is expected to result in a market volume of US$153.20m by 2029.
The number of users in this market is also expected to increase, reaching 2.76m users by 2029.
The user penetration rate, which is projected to be 68.1% in 2024, is expected to rise to 75.3% by 2029.
The average revenue per user (ARPU) is estimated to be US$49.23.
Moreover, it is expected that 22% of the total revenue in the Public Transportation market will be generated through online sales by 2029.
In comparison to other countries, United States is projected to generate the most revenue in this market, with a value of US$52bn in 2024.
Georgia's public transportation system is undergoing modernization efforts, with the government investing in new buses and a planned metro system in the capital city of Tbilisi.

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.

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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 Georgia is experiencing significant growth and development due to several key factors.

Customer preferences: Customers in Georgia are increasingly opting for public transportation due to its convenience, affordability, and environmental benefits. Public transportation offers a cost-effective alternative to owning a car, especially in urban areas where parking can be expensive and traffic congestion is a common problem. Additionally, public transportation allows customers to avoid the stress of driving and find more productive ways to spend their time during their commute.

Trends in the market: One of the major trends in the public transportation market in Georgia is the expansion and improvement of existing infrastructure. The government has been investing heavily in upgrading the public transportation system, including the expansion of metro lines, the introduction of new bus routes, and the improvement of existing railway networks. These infrastructure developments aim to enhance connectivity and accessibility, making public transportation a more attractive option for commuters. Another trend in the market is the integration of technology in public transportation services. This includes the implementation of smart ticketing systems, real-time information displays, and mobile applications for trip planning and payment. These technological advancements make it easier for customers to use public transportation and provide a more seamless and efficient travel experience.

Local special circumstances: Georgia's strategic location as a transit hub between Europe and Asia has contributed to the growth of the public transportation market. The country serves as a transportation corridor for goods and passengers traveling between these two regions, attracting investments in transportation infrastructure. Additionally, Georgia's tourism industry has been booming in recent years, leading to an increase in the demand for public transportation services to cater to both domestic and international tourists.

Underlying macroeconomic factors: The economic growth and stability in Georgia have played a crucial role in the development of the public transportation market. As the economy continues to grow, more people are entering the workforce and commuting to their workplaces, leading to an increased demand for public transportation services. Furthermore, the government's focus on sustainable development and reducing carbon emissions has also contributed to the growth of the public transportation market, as it aligns with global efforts to combat climate change. In conclusion, the Public Transportation market in Georgia is experiencing growth and development due to customer preferences for convenience and affordability, the expansion and improvement of infrastructure, the integration of technology, the country's strategic location as a transit hub, and the economic growth and stability. These factors are driving the demand for public transportation services and shaping the future of the market in Georgia.

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.