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Public Transportation - Norway

Norway

By the year 2024, the Public Transportation market in Norway is anticipated to generate revenue of US$1.46bn.
The revenue is projected to display an annual growth rate (CAGR 2024-2028) of 0.34%, which will result in a market volume of US$1.48bn by 2028.
In the same market, the number of users is predicted to reach 3.41m users by 2028.
Based on projections, user penetration is estimated to be 62.1% in 2024 and 60.2% by 2028.
The average revenue per user (ARPU) is expected to reach US$0.43k.
Furthermore, it is projected that 38% of the total revenue generated in the Public Transportation market in Norway will be from online sales by 2028.
In comparison with other countries, United States is expected to generate the highest revenue of US$50,310m in 2024.
Norway's public transportation system is heavily invested in electric buses and ferries, leading the way in sustainable transportation.

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

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Analyst Opinion

The Public Transportation market in Norway has been experiencing steady growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Norway have been shifting towards more sustainable and environmentally friendly modes of transportation. This has led to an increased demand for public transportation options, as people look for alternatives to private cars. Additionally, the convenience and cost-effectiveness of public transportation have also contributed to its popularity among customers. Trends in the market indicate a growing emphasis on digitalization and technology integration. Public transportation providers in Norway are increasingly adopting smart ticketing systems, mobile apps, and real-time information services to enhance the overall customer experience. These technological advancements not only improve the efficiency of public transportation services but also make them more accessible and user-friendly. Local special circumstances, such as Norway's geography and population distribution, also play a role in the development of the public transportation market. With its long coastline, fjords, and mountainous terrain, Norway faces unique challenges in providing transportation infrastructure to remote and sparsely populated areas. As a result, there is a greater reliance on public transportation options, such as ferries and buses, to connect these regions. Underlying macroeconomic factors, such as government policies and funding, also contribute to the growth of the public transportation market in Norway. The Norwegian government has been actively investing in public transportation infrastructure and promoting sustainable mobility solutions. This includes initiatives such as subsidizing public transportation fares, expanding the network of bus and tram lines, and investing in electric and hybrid vehicles. These measures not only support the growth of the public transportation market but also align with Norway's commitment to reducing carbon emissions and promoting sustainable development. In conclusion, the Public Transportation market in Norway is experiencing growth due to customer preferences for sustainable and cost-effective transportation options, market trends towards digitalization and technology integration, local special circumstances that necessitate reliable public transportation infrastructure, and underlying macroeconomic factors such as government support and investment. These factors collectively contribute to the positive development of the public transportation market in Norway.

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.