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Public Transportation - Ireland

Ireland

The Public Transportation market in Ireland is expected to experience substantial growth in the upcoming years.
By 2024, revenue in this sector is expected to reach US$0.63bn, with a projected annual growth rate of 1.17% from 2024-2028.
This will result in a market volume of US$0.66bn by 2028.
The number of users is also expected to increase to 2.48m users by 2028.
User penetration, however, is projected to slightly decrease from 48.1% in 2024 to 47.6% by 2028.
Despite this, the average revenue per user (ARPU) is expected to remain high at US$258.80.
Online sales are also expected to contribute significantly to the Public Transportation market, generating 25% of the total revenue by 2028.
It is worth noting that in global comparison, United States is projected to generate the most revenue in this market, with an estimated revenue of US$50,310m in 2024.
Ireland's public transportation system has undergone significant modernization in recent years, with the introduction of new bus and rail services and the expansion of existing ones.

Key regions: United States, Indonesia, China, Saudi Arabia, Europe

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Analyst Opinion

The Public Transportation market in Ireland has been experiencing significant growth in recent years.

Customer preferences: Customers in Ireland are increasingly choosing public transportation as their preferred mode of travel. This is due to several factors, including the convenience and cost-effectiveness of using public transportation compared to owning a private vehicle. Additionally, the growing awareness of environmental issues has led to a shift in consumer behavior, with more individuals opting for greener transportation options.

Trends in the market: One of the key trends in the Public Transportation market in Ireland is the expansion and modernization of existing infrastructure. The government has been investing heavily in upgrading the country's public transportation systems, including the expansion of bus and rail networks. This has resulted in improved connectivity and accessibility for passengers, making public transportation a more attractive option. Another trend in the market is the integration of technology. Public transportation providers in Ireland are increasingly adopting digital solutions to enhance the customer experience. This includes the introduction of mobile ticketing systems, real-time tracking of buses and trains, and the provision of Wi-Fi on board. These technological advancements have made public transportation more convenient and user-friendly, further driving its popularity among customers.

Local special circumstances: One of the unique aspects of the Public Transportation market in Ireland is the dominance of bus services. Buses are the most widely used mode of public transportation in the country, accounting for a significant portion of passenger journeys. This is due to the extensive bus network that covers both urban and rural areas, providing a reliable and affordable transportation option for residents across the country.

Underlying macroeconomic factors: The growth of the Public Transportation market in Ireland can also be attributed to favorable macroeconomic factors. The country's strong economic performance, coupled with a growing population and increasing urbanization, has resulted in higher demand for public transportation services. Additionally, government initiatives aimed at reducing traffic congestion and promoting sustainable transportation have further fueled the growth of the market. In conclusion, the Public Transportation market in Ireland is experiencing significant growth due to customer preferences for convenience, cost-effectiveness, and environmental sustainability. The expansion and modernization of infrastructure, integration of technology, dominance of bus services, and favorable macroeconomic factors are all contributing to the development of the market.

Methodology

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.