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Bus Tickets - Ireland

Ireland

The Bus Tickets market in Ireland is anticipated to witness a noteworthy surge in revenue, with projections indicating that it will reach US$94.46m by 2024.
Furthermore, it is expected to grow annually at a rate of 0.45%, thus resulting in a market size of US$96.18m by 2028.
The number of users in this market is also expected to increase and reach 0.98m users by 2028.
The user penetration rate is projected to be 19.4% in 2024 and 18.9% by 2028.
The average revenue per user (ARPU) is forecasted to be US$95.57.
Additionally, online sales are expected to contribute 71% of the total revenue by 2028.
It is worth noting that, compared globally, China is expected to generate the highest revenue in this market, with a projected revenue of US$5,003m in 2024.
Ireland's bus market is experiencing a shift towards electric buses, with several cities and companies investing in sustainable transport options.

Key regions: Malaysia, Thailand, India, Saudi Arabia, Europe

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Analyst Opinion

The Buses market in Ireland has been experiencing steady growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Buses market in Ireland have been shifting towards more sustainable and eco-friendly transportation options. With increasing concerns about climate change and environmental sustainability, customers are seeking out buses that run on alternative fuels or are electric-powered. This shift in preference has led to an increased demand for hybrid and electric buses in the market. Trends in the market also play a significant role in the development of the Buses market in Ireland. One notable trend is the adoption of smart technology in buses. Customers are increasingly looking for buses that are equipped with features such as Wi-Fi, USB charging ports, and real-time tracking systems. These technological advancements not only enhance the overall passenger experience but also improve operational efficiency for bus operators. Local special circumstances in Ireland have also contributed to the growth of the Buses market. The government has been actively promoting public transportation as a means to reduce traffic congestion and improve air quality. This has led to increased investment in the development of bus infrastructure and the expansion of bus networks across the country. Additionally, the government has implemented various incentives and subsidies to encourage the purchase of eco-friendly buses, further driving the growth of the market. Underlying macroeconomic factors have also played a role in the development of the Buses market in Ireland. The country's strong economic growth and increasing urbanization have resulted in a higher demand for public transportation. As more people move to urban areas, the need for efficient and reliable bus services has increased. This, coupled with favorable government policies and incentives, has created a conducive environment for the growth of the Buses market. In conclusion, the Buses market in Ireland has been growing steadily due to customer preferences for sustainable transportation options, trends in the market such as the adoption of smart technology, local special circumstances including government initiatives to promote public transportation, and underlying macroeconomic factors such as economic growth and urbanization. These factors have created a positive environment for the development and expansion of the Buses market in Ireland.

Methodology

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.