The global intercity bus travel market is poised to grow at rapid pace during the forecast period of 2019 to 2028. This growth can be attributed to increased use of intercity buses for travelling by a major population from all across the world. Generally, travelers use the intercity bus services for going from one town to another. Government agencies or private agencies provide these transportation services on profit or no-profit-no-loss basis.
An upcoming research report from TMR on the intercity bus travel market gives bird’s eye view of this market. It offers precise analysis of key elements supporting or hindering market growth. The report offers helpful insights of the intercity bus travel market for the forecast period of 2019 to 2028.
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Global Intercity Bus Travel Market: Growth Dynamics
Major population from all across the world is inclined toward the use of public transport such as intercity bus services. One of the key reasons for this shift in consumer behavior is growing awareness about the environmental-friendliness of this service. In addition to this, the global intercity bus travel market is expected to grow at stupendous rate during upcoming period on the back of the cost-effective nature of the services offered by the players working in this market.
Intercity buses help in producing less carbon dioxide compared to other travelling options. Thus, increased use of these services can help in conservation of environment. These buses do not take a halt at every stop. As a result, travelers can reach to their desired place in minimum possible time. Owing to this feature, there is considerable increase in number of people who prefer travelling through intercity buses. As a result, vendors working in the global intercity bus travel market are gaining remarkable expansion opportunities in worldwide locations.
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Global Intercity Bus Travel Market: Competitive Analysis
The global intercity bus travel market is fairly fragmented in nature. Presence of considerable number of players connotes that the competitive landscape of the market for intercity bus travel is highly intense. Vendors working in intercity bus travel market are using diverse strategies to gain the leading position. Several players are focused on improving their services. For his purpose, they are incorporating advanced features in their travel systems. A case in point here is announcement by Greyhound Lines. In its announcement, the firm stated that it has rolled out digital timetables at the terminals of around 50 cities in North America. This move will boost the growth of intercity bus travel market in region.
The list of key players in the global intercity bus travel market includes:
- Green Tortoise
- Central Greyhound Lines
- Academy Bus
Global Intercity Bus Travel Market: Regional Assessment
The global intercity bus travel market is spread across five key regions, namely, North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. Of them, Asia Pacific is one of the leading regions of the market for intercity bus travel. Intercity bus services are available in rural areas of this region. Moreover, these services play a key role in maintaining and advancing the rural public transit systems. This factor will drive the growth of the intercity bus travel market as the major population in developing countries such as India is living in rural area. Apart from this, the market is expected to gather considerable revenues in Europe and North America.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.