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Bus Tickets - Indonesia

Indonesia

Indonesia is projected to see a significant increase in revenue for the Bus Tickets market, with an expected reach of €268.60m in 2024.
The revenue is expected to grow annually at a rate of 3.51%, resulting in a projected market volume of €319.20m by 2029.
Additionally, the number of users in this market is expected to reach 17.95m users by 2029, with a user penetration of 5.5% in 2024 and 6.2% by 2029.
The average revenue per user (ARPU) is projected to be €17.55.
Furthermore, it is expected that 43% of the total revenue will be generated through online sales by 2029.
It is noteworthy that in comparison to the global market, China is expected to generate the highest revenue in this market, with €4,610m in 2024.
The demand for eco-friendly buses in Indonesia is on the rise, driven by the government's push for sustainable transportation.

Key regions: United States, Europe, Malaysia, Germany, Thailand

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Analyst Opinion

The Buses market in Indonesia has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In Indonesia, there is a growing demand for buses due to the increasing urbanization and population growth. As more people move to cities, the need for efficient and reliable public transportation becomes crucial. Buses are seen as a cost-effective and sustainable mode of transportation, offering a convenient way for people to commute and travel within and between cities. Additionally, buses are also popular among tourists who want to explore the country's diverse landscapes and cultural attractions.

Trends in the market: One of the key trends in the Indonesian bus market is the shift towards electric and hybrid buses. With the government's push for sustainable transportation solutions and the growing concern for environmental issues, there is a rising demand for buses that are more fuel-efficient and emit lower levels of pollutants. Electric and hybrid buses offer a cleaner and greener alternative to traditional diesel-powered buses, and many bus operators and government agencies are increasingly adopting these technologies. Another trend in the market is the integration of advanced technologies in buses. This includes features such as GPS tracking, onboard Wi-Fi, and mobile ticketing systems, which enhance the overall passenger experience and improve operational efficiency for bus operators. These technologies not only make bus travel more convenient but also enable better fleet management and optimization.

Local special circumstances: Indonesia's geography and infrastructure pose unique challenges for the bus market. The country consists of thousands of islands, and many areas are characterized by rugged terrains and poor road conditions. This makes it essential for buses to be durable and able to withstand challenging environments. Additionally, the high population density in urban areas and the lack of efficient public transportation systems in some regions create opportunities for bus manufacturers and operators to meet the growing demand for transportation services.

Underlying macroeconomic factors: The Indonesian economy has been growing steadily in recent years, which has contributed to the expansion of the bus market. Economic growth leads to increased disposable income and consumer spending, allowing more people to afford bus travel. Furthermore, government initiatives and infrastructure development projects aimed at improving transportation networks and connectivity across the country also drive the demand for buses. In conclusion, the Buses market in Indonesia is developing due to customer preferences for cost-effective and sustainable transportation, the adoption of advanced technologies, unique local circumstances, and favorable macroeconomic factors. The shift towards electric and hybrid buses, the integration of advanced technologies, the challenging geography and infrastructure, and the country's economic growth all contribute to the growth and development of the bus market in Indonesia.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of bus tickets.

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.