Public Transportation - Jamaica | Statista Market Forecast

Jamaica is expected to witness a significant increase in revenue in the Public Transportation market, with projections indicating that it will reach US$48.21m by 2024.
Additionally, this revenue is expected to experience an annual growth rate of 2.02% (CAGR 2024-2029), resulting in a projected market volume of US$53.29m by 2029.
By 2029, it is expected that the number of users in Jamaica's Public Transportation market will amount to 1.31m users, with a projected user penetration of 46.5%, up from 43.0% in 2024.
Furthermore, the average revenue per user (ARPU) is expected to amount to US$39.67.
It is projected that 13% of the total revenue in Jamaica's Public Transportation market will be generated through online sales by 2029.
It is worth noting that in a global comparison, United States is expected to generate the most revenue in this sector, reaching US$52bn by 2024.
Jamaica's public transportation system faces challenges with outdated infrastructure and inadequate funding, resulting in unreliable service for commuters.

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 Jamaica has been experiencing significant growth in recent years. Customer preferences have shifted towards more sustainable and cost-effective transportation options, leading to an increased demand for public transportation services. Additionally, local special circumstances and underlying macroeconomic factors have also contributed to the development of the market. Customer preferences in Jamaica have been influenced by a growing awareness of the environmental impact of private vehicles and the need to reduce traffic congestion. As a result, more people are opting for public transportation as a means of commuting. The convenience and affordability of public transportation options, such as buses and trains, have made them a popular choice among commuters. Trends in the market indicate a shift towards the modernization and expansion of public transportation infrastructure. The government of Jamaica has recognized the importance of investing in public transportation to meet the growing demand. This has led to the implementation of various initiatives, including the introduction of new buses and trains, the improvement of existing infrastructure, and the integration of technology to enhance the overall commuting experience. Local special circumstances, such as the geography and population density of Jamaica, have also played a role in the development of the public transportation market. The island's limited land area and high population density make private vehicle ownership and road congestion major challenges. Public transportation offers a more efficient and sustainable solution to these issues, making it an attractive option for both residents and tourists. Underlying macroeconomic factors have further contributed to the growth of the public transportation market in Jamaica. The country's economic development and urbanization have led to an increase in the number of people commuting to work and school. Additionally, the government's investment in infrastructure development and the promotion of tourism have also boosted the demand for public transportation services. In conclusion, the Public Transportation market in Jamaica is experiencing growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards more sustainable and cost-effective transportation options, along with the government's investment in infrastructure development, has contributed to the expansion and modernization of public transportation services in the country. As the demand for public transportation continues to grow, it is expected that the market will further evolve to meet the needs of commuters in Jamaica.

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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