Authored By: Sarah
11 Jul 2024

 Online Bus Ticketing Service Market Size to grow by USD 5741.91 million between 2024-2028

According to a research report “ Online Bus Ticketing Service Market” by Application (Business travel, Tourism travel) Type (Mobile application, Desktop) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 5741.91 million, at a CAGR of  26.97% during the forecast period. The global online bus ticket service market has experienced significant growth in the last decade due to the increasing penetration of the Internet and smartphones. With governments providing free Wi-Fi networks in various countries like China, India, Japan, the US, and the UK, and the proliferation of smartphones, the use of the Internet for mobile ticketing has surged. This trend is particularly noticeable among rural populations and low-income groups, who now rely on smartphones as their primary means of Internet access. The rise in smartphone sales and the subsequent increase in Internet users have led to a substantial expansion of the online bus ticket service market.

Browse market data tables, figures, and in-depth TOC on “Online Bus Ticketing Service Market” by Application (Business travel, Tourism travel) Type (Mobile application, Desktop) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Application, the Business travel segment is projected to dominate the market size in 2024

In today's digital age, the preference for online bus ticketing has significantly shifted from desktops to mobile devices, particularly smartphones. This trend is driven by the convenience and ease of use offered by mobile applications, which cater to both leisure and business travelers. The increasing number of smartphone users and the continuous enhancement of mobile-based travel applications' user interfaces are key factors fueling the surge in mobile bookings. Notably, countries with high smartphone penetration rates, such as China, India, and the United States, are leading the charge in this transition.

By Type, Mobile application  segment is expected to hold the largest market size for the year 2024

The business travel segment, comprising professionals who utilize online bus ticketing services for their corporate journeys, represents a significant consumer base in the global online bus ticketing market. These travelers have distinct requirements and preferences, including the need to arrange travel for multiple employees, create itineraries, and decide between business or first class seating. Additionally, they may seek added conveniences such as Wi-Fi access, power outlets, and business lounges. To cater to these specific demands, leading online bus ticketing service providers focus on offering unique features and services tailored to the corporate travel market.

APAC is forecasted to hold the largest market size by region in 2024

The Asia-Pacific (APAC) region presents substantial business opportunities for the online bus ticketing service market, driven by the presence of robust economies like China, India, and Japan. Factors such as population growth, an increase in business travel, and rising tourism are expected to fuel market expansion during the forecast period. Governments in APAC are actively investing in enhancing commuters' travel experience, with initiatives including the implementation of quick response (QR) and Near Field Communication (NFC) technologies in national and regional transportation systems. For instance, our company recently announced a strategic partnership to introduce mobile ticketing to the Japanese transit market. These advancements will significantly contribute to the growth of the online bus ticketing service market in APAC.

The Online Bus Ticketing Service Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • BAOLAU Pte Ltd.
  • Busbud Inc.
  • Busonlineticket Pte Ltd.
  • Easy Trip Planners Ltd.
  • FlixMobility GmbH
  • Global Charter Services Inc.
  • GoEuro Corp.
  • GotoBus
  • Gozing Technology Pvt. Ltd.
  • Hip Mobility Inc.
  • KOBO CO. LTD.
  • Le Travenues Technology Ltd.
  • MakeMyTrip Ltd.
  • Mantis Technologies Pvt. Ltd.
  • Stelling Technologies Pvt. Ltd.
  • TicketGoose
  • Vy Bus AS
  • WILLER Inc.
  • Yatra Online Inc.
  • Zeelo Ltd.
.

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Research Analysis Overview

The Online Bus Ticketing Service Market is experiencing significant growth due to the increasing preference for digital solutions among working adults, tech-friendly tourists, and public and private bus companies. This market is driven by personalized offers, digital marketing strategies including social media, and the use of online applications and reservation technology. Smart gadgets like smartphones have made online booking websites and transaction applications more accessible than ever. Bus companies and travel agencies benefit from real-time reporting, commissions, and centralized networks, while customers enjoy travel updates, alerts, and customer loyalty programs. Local travel agents also leverage online reservation software to expand their reach and compete with online travel agents. The tourism industry's shift towards digital platforms has led to the adoption of secure transaction methods, making online bus ticketing a convenient and trusted option for travelers. Public and private bus companies are investing in reservation technology to streamline their operations and provide a seamless customer experience. Online bus ticketing services offer discount codes, making travel more affordable for customers. The future of this market looks bright, with continuous innovation and integration of new technologies to enhance the user experience.

Market Research Overview

The Online Bus Ticketing Service Market is witnessing significant growth in the tourism travel segment, offering comfort and convenience to bus travelers. With seat choice facilities, multiple bus routes, and 24/7 availability, this market caters to both corporate and business travel segments, as well as recreational activities for subscribers. Digital marketing, social media, and online applications are key channels for reaching tech-friendly tourists, working adults, and the youth. Discount codes, e-wallets, and integrated payment solutions attract independent travelers (FITs) and offline customers. Personalization, business segment, and tourism segment growth are driven by IoT, itinerary management, and real-time reporting. Network expansion and innovative marketing strategies cater to intercity travel modes, including coach services, highway buses, and over-the-road services. Personalized services, discounts, alerts, and travel updates enhance the sophisticated travel experience. Online ticketing services, bus schedules, and safety monitoring applications ensure cost-effective routes and sustainable travel choices. The digitization of city-to-city buses, aggregator sites, bus tracker programs, and e-tickets continue to fuel market growth. Secure transaction methods, smartphone compatibility, and advertising are essential for customer loyalty programs, travel agencies, public bus companies, and private bus companies.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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