According to the latest report by IMARC Group, titled, “ Public Transportation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 ” The study provides a detailed analysis of the industry, including the global  public transportation market trends, share, size and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the public transportation market?

What is public transportation?

Public transportation represents a system of transportation that is commonly available for use by the general public and generally provided by government bodies or private entities. It comprises several modes of travel, such as trains, trams, buses, subways, ferries, light rail, etc. Public transportation networks are specifically designed to serve communities by offering an affordable and convenient alternative to private vehicles. They operate on scheduled stops and routes, thereby allowing passengers to access numerous destinations within a city or region. Public transportation systems promote sustainable mobility, reduce traffic congestion, and minimize environmental impact by decreasing the number of individual vehicles on the road. They play a vital role in fostering social integration, enhancing accessibility, and supporting economic development.

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What are the growth prospects and trends in the public transportation industry?

The inflating need for reducing carbon emissions and the increasing consumer awareness towards climate change are primarily driving the public transportation market. Additionally, the widespread adoption of electric buses and trains that are more cost-effective as compared to owning and maintaining a private vehicle is further bolstering the market growth. Besides this, they also offer an affordable means of transportation for individuals who prefer not to bear the expenses associated with private vehicle ownership or cannot afford a car, which is acting as another significant growth-inducing factor. Moreover, the development of well-designed public transportation networks that provide convenience and time savings, especially in congested urban areas, is positively influencing the global market. Apart from this, the introduction of mobile ticketing, real-time tracking, and digital payment systems is anticipated to fuel the public transportation market over the forecasted period.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Mode Type:

• Rd
• Rail
• Others

Breakup by Booking Channel:

• Online
• Offline

Breakup by Region:

• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• BC Transit Corporation
• Berliner Verkehrsbetriebe
• Deutsche Bahn AG
• FirstGroup Plc
• Tobu Railway Company Ltd.
• Transdev Group (Caisse des depots et consignations)
• Transport International Holdings Limited
• Trenitalia c2c Limited (Trenitalia UK Ltd.)

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