Public Transportation - United Kingdom

United Kingdom

Highlights

The Public Transportation market in the United Kingdom is expected to experience a remarkable growth in revenue by 2024, projected to reach US$15.19bn.
Furthermore, it is anticipated that the market will show a consistent annual growth rate (CAGR 2024-2029) of 2.77%, resulting in a projected market volume of US$17.41bn by 2029.
The number of users in this market is expected to reach 46.91m users by 2029, with a user penetration of 65.0% in 2024 and 68.0% by 2029.
Additionally, the average revenue per user (ARPU) is expected to amount to US$344.00.
It is projected that 28% of total revenue in the Public Transportation market will be generated through online sales by 2029.
It is worth noting that in global comparison, United States is expected to generate the most revenue in the Public Transportation market, with a projected revenue of US$52bn in 2024.
The United Kingdom's public transportation system is undergoing significant modernization efforts, with a focus on improving accessibility and sustainability.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Public Transportation market in United Kingdom has been experiencing significant growth in recent years. Customer preferences have shifted towards more sustainable modes of transportation, leading to an increased demand for public transportation services. Additionally, the government has implemented various initiatives to improve and expand the public transportation infrastructure in order to reduce traffic congestion and promote environmental sustainability. These factors, along with local special circumstances and underlying macroeconomic factors, have contributed to the development of the Public Transportation market in United Kingdom. Customer preferences in United Kingdom have been shifting towards more sustainable modes of transportation, such as public transportation. This can be attributed to increasing awareness of the environmental impact of private vehicles and the desire to reduce carbon emissions. Public transportation offers a more eco-friendly alternative, as it allows for the efficient transportation of a large number of passengers in a single vehicle. Moreover, public transportation services in United Kingdom are often more cost-effective compared to owning and maintaining a private vehicle. This affordability factor has further contributed to the growing preference for public transportation among consumers. In terms of market trends, the Public Transportation market in United Kingdom has witnessed several developments. One notable trend is the integration of technology in public transportation systems. This includes the implementation of contactless payment systems, real-time tracking of buses and trains, and the availability of mobile applications for trip planning and ticket purchasing. These technological advancements have improved the overall convenience and efficiency of public transportation services, making them more attractive to consumers. Another trend in the market is the expansion and improvement of the public transportation infrastructure. The government in United Kingdom has invested heavily in upgrading existing transportation networks and building new infrastructure to meet the growing demand. This includes the construction of new railway lines, the expansion of bus routes, and the introduction of new modes of transportation such as trams and light rail systems. These infrastructure developments have not only improved the accessibility and reliability of public transportation services, but they have also created new job opportunities and stimulated economic growth in the transportation sector. Local special circumstances in United Kingdom have also influenced the development of the Public Transportation market. For instance, the high population density in urban areas has necessitated the need for efficient and reliable public transportation systems. Additionally, the presence of a well-established public transportation network in major cities such as London has set a precedent for other regions to invest in similar infrastructure. Furthermore, the United Kingdom's commitment to reducing carbon emissions and achieving sustainability goals has placed a greater emphasis on the development of public transportation as a greener alternative to private vehicles. Underlying macroeconomic factors have also played a role in the growth of the Public Transportation market in United Kingdom. The steady economic growth and rising disposable incomes have increased the affordability of public transportation for many consumers. Moreover, the government's investment in public transportation infrastructure has created job opportunities and stimulated economic activity in the construction and transportation sectors. These factors have contributed to the overall development and expansion of the Public Transportation market in United Kingdom. In conclusion, the Public Transportation market in United Kingdom has experienced significant growth due to changing customer preferences, technological advancements, infrastructure developments, local special circumstances, and underlying macroeconomic factors. The shift towards more sustainable modes of transportation, along with government initiatives to improve public transportation infrastructure, has contributed to the increased demand for public transportation services. The integration of technology and the expansion of the public transportation network have further enhanced the convenience and accessibility of these services. Overall, the Public Transportation market in United Kingdom is expected to continue growing as consumers prioritize sustainability and governments invest in improving transportation infrastructure.

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.