Key regions: United States, Indonesia, China, Saudi Arabia, Europe
The Public Transportation market in Iraq is experiencing significant growth and development in recent years.
Customer preferences: Customers in Iraq are increasingly opting for public transportation due to several reasons. Firstly, the cost of owning and maintaining a private vehicle is high, making public transportation a more affordable option for many individuals. Additionally, the traffic congestion in major cities such as Baghdad and Basra has become a major issue, leading people to choose public transportation as a more efficient and time-saving mode of travel. Furthermore, the younger generation in Iraq is more environmentally conscious and prefers to use public transportation to reduce their carbon footprint.
Trends in the market: One of the key trends in the Public Transportation market in Iraq is the expansion and modernization of existing transportation infrastructure. The government has been investing heavily in upgrading and expanding the public transportation network, including the construction of new bus and metro lines. This has led to improved accessibility and convenience for commuters, attracting more people to use public transportation. Another trend is the increasing adoption of technology in the public transportation sector. Mobile applications and online platforms have been introduced to provide real-time information on bus and metro schedules, ticket booking, and payment options. This digitalization of services has made public transportation more user-friendly and efficient, further encouraging its usage.
Local special circumstances: Iraq faces unique challenges in its public transportation sector. The country has been recovering from years of conflict and instability, which has hindered infrastructure development. However, the government's commitment to rebuilding the nation has led to increased investment in the public transportation sector. Security concerns also play a significant role in shaping the market dynamics. The government has implemented security measures to ensure the safety of commuters, including the deployment of security personnel and surveillance systems in public transportation facilities. These measures have helped build trust among the public and encourage more people to use public transportation.
Underlying macroeconomic factors: The growth of the Public Transportation market in Iraq can be attributed to several macroeconomic factors. The country's population is growing at a steady rate, leading to increased demand for transportation services. Moreover, the urbanization rate is also on the rise, with more people moving to cities in search of better job opportunities. This urbanization trend has resulted in increased traffic congestion, prompting individuals to opt for public transportation. Additionally, the government's focus on diversifying the economy away from oil dependence has led to increased investment in sectors such as infrastructure and transportation. This has facilitated the development of public transportation systems and improved connectivity within and between cities. In conclusion, the Public Transportation market in Iraq is witnessing significant growth and development due to customer preferences for affordability, efficiency, and environmental sustainability. The expansion and modernization of transportation infrastructure, adoption of technology, local special circumstances, and underlying macroeconomic factors all contribute to the positive trajectory of the market.
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.
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