Press release
Global Online Bus Ticketing Service Market Size to Grow at a CAGR of 25.90% in the Forecast Period of 2023-2028
Online Bus Ticketing Service Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 25.90%
One of the main factors promoting the growth of the online bus ticketing service market is the convenience of purchasing bus tickets online. Since online ticketing allows consumers to book tickets from anywhere at any time, the need for intercity travel modes is driving the demand for online bus ticketing services. As a result, businesses that provide bus transportation services are increasingly concentrating on growing their online presence to attract more clients.
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Due to easy access from remote areas to online bus ticketing service portals and the availability of on-the-go service with 24/7 customer care, online bus ticketing services are gaining increasing traction. Another element contributing to the market's growth is the significance of bus transportation in terms of intercity and intracity movement.
The rate of technological adoption in the travel sector has grown as a result of the rapid penetration of the internet. It provides bus users with the option to find and schedule bus excursions using a search tool that provides clear bus schedules. Additionally, internet ticketing services offer a complete solution for travellers to locate, compare, and book tickets online in real-time along with travel updates and notifications pertinent to the trip, supporting an improved travel experience for visitors from all over the world. This is aiding the online bus ticketing service market growth.
Online Bus Ticketing Service Industry Definition and Major Segments
An online bus ticketing service is a web-based service that allows users to check the availability of bus tickets, purchase the bus ticket of their choosing, and make payment online. This method is practical and gaining popularity among metropolitan residents who are familiar with technological devices and web resources.
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Based on type, the market is bifurcated into:
• Mobile Application
• Desktop
On the basis of application, the market is divided into:
• Tourism Travel
• Business Travel
• Others
Based on region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Online Bus Ticketing Service Market Trends
Online bus ticketing services offer benefits like improved customer service, reduced workload, greater insights about buses and their routes, and reduction of cancellations and no-shows. Real-time data allows the bus owner or driver to keep track of the number of reservations. Mobile applications are projected to witness a growing online bus ticketing service market share in the forecast period. With the support of mobile-friendly solutions, travellers around the world can pursue convenient and reliable travel.
The lucrative travel and tourism sector is a major supporting factor for the online bus ticketing service market. Key companies like BusOnlineTicket Pte Ltd and MakeMyTrip, among others, are becoming more well-liked, particularly by millennials who have a passion for travelling and leisure activities, fuelling the continuous expansion of the global market for online bus ticketing services.
At a regional level, the Asia Pacific is expected to witness substantial growth in the market for online bus ticketing services due to its booming travel and tourism sector. Additionally, as more tourists cross borders, there is a growing need for bus services between major tourist destinations in the region, thus aiding the market growth.
Key Market Players
The major players in the global online bus ticketing service market report are
• Busbud Inc.
• MakeMy Trip Pvt. Ltd.
• BusOnlineTicket Pte Ltd
• GotoBus.com
• Wanderu Inc.
• BuuPass
• Flix SE
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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