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Public Transportation - Nordics

Nordics

The Public Transportation market in Nordics is expected to witness a significant growth in revenue, projected to reach US$7.84bn by 2024.
Moreover, the market is anticipated to grow annually at a rate of 1.77% (CAGR 2024-2029), which would result in a projected market volume of US$8.56bn by 2029.
The number of users in this market is also expected to rise, estimated to reach 19.86m users by 2029.
The user penetration rate is projected to be 66.0% in 2024 and 69.2% by 2029.
The average revenue per user (ARPU) is expected to amount to US$0.42k.
Online sales are also projected to contribute to the revenue of the Public Transportation market, with 37% of total revenue generated through this channel by 2029.
In terms of global comparison, United States is expected to generate the most revenue, projected to reach US$52bn in 2024.
In the Nordics, public transportation is highly integrated and efficient, with a strong emphasis on sustainability and accessibility for all.

Key regions: South America, Malaysia, China, Thailand, United States

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Analyst Opinion

The Public Transportation market in Nordics is witnessing significant growth and development in recent years.

Customer preferences: Customers in the Nordics have shown a strong preference for sustainable and eco-friendly modes of transportation. This has led to an increased demand for public transportation options, such as buses, trams, and trains. Additionally, customers value convenience and efficiency, and are willing to pay for services that offer seamless connectivity and shorter travel times.

Trends in the market: One of the key trends in the Public Transportation market in Nordics is the integration of technology. Public transportation providers are increasingly adopting digital solutions to enhance the overall customer experience. This includes the implementation of smart ticketing systems, real-time information updates, and mobile applications for trip planning and payment. These technological advancements have made public transportation more accessible and user-friendly, attracting a larger customer base. Another trend in the market is the focus on improving infrastructure and expanding public transportation networks. Governments and local authorities in the Nordics are investing heavily in the development of new transportation routes and upgrading existing infrastructure. This includes the construction of new metro lines, expansion of tram networks, and the introduction of electric buses. These initiatives aim to reduce congestion, improve connectivity, and promote sustainable transportation options.

Local special circumstances: The Nordics have a well-developed culture of public transportation usage. The high population density in urban areas, combined with a strong emphasis on sustainability, has contributed to the popularity of public transportation in the region. Additionally, the harsh weather conditions during winter months make public transportation a more practical and reliable option for commuting.

Underlying macroeconomic factors: The strong economy in the Nordics has played a significant role in the growth of the Public Transportation market. The region has a high GDP per capita, which enables individuals to afford public transportation services. Furthermore, the governments in the Nordics have implemented favorable policies and regulations to encourage the use of public transportation and reduce private car ownership. These factors have created a conducive environment for the development and expansion of the Public Transportation market in the Nordics. In conclusion, the Public Transportation market in the Nordics is experiencing growth and development driven by customer preferences for sustainable transportation options, the integration of technology, investments in infrastructure, and favorable macroeconomic factors. The region's commitment to sustainability, coupled with its strong economy and supportive policies, will likely continue to drive the growth of the Public Transportation market in the future.

Methodology

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.