Key regions: Malaysia, Thailand, India, Saudi Arabia, Europe
The Buses market in Iraq has been experiencing significant growth in recent years, driven by several key factors. Customer preferences for reliable and affordable transportation options, combined with local special circumstances and underlying macroeconomic factors, have contributed to the development of the market. Customer preferences in the Buses market in Iraq are largely driven by the need for reliable and affordable transportation. As the country continues to rebuild and develop its infrastructure, there is a growing demand for efficient public transportation options. Buses provide a cost-effective solution for both urban and rural areas, allowing people to commute to work, school, and other destinations. Additionally, buses offer a more comfortable and convenient mode of transportation compared to other options such as taxis or private cars. Trends in the Buses market in Iraq reflect the increasing demand for public transportation. The government has been investing in the expansion and modernization of bus fleets, with a focus on improving the quality and efficiency of services. This includes the introduction of new buses with advanced features such as air conditioning, wheelchair accessibility, and real-time tracking systems. These enhancements aim to attract more passengers and provide a better overall experience. Local special circumstances also play a role in the development of the Buses market in Iraq. The country's population is growing, and urbanization is increasing, leading to higher demand for public transportation. Additionally, Iraq has a young population, with a significant portion of the population under the age of 30. This demographic group is more likely to rely on public transportation and is driving the demand for buses. Underlying macroeconomic factors further support the growth of the Buses market in Iraq. The country's economy has been recovering from years of conflict and instability, leading to increased consumer spending power. As people have more disposable income, they are more likely to use public transportation and invest in their own vehicles. This has created a favorable market environment for the Buses industry, with both public and private sector investments driving growth. In conclusion, the Buses market in Iraq is developing due to customer preferences for reliable and affordable transportation, local special circumstances such as population growth and urbanization, and underlying macroeconomic factors including economic recovery and increased consumer spending power. These factors have created a favorable market environment, leading to the expansion and modernization of bus fleets in the country.
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of bus tickets.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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