LONDON--(BUSINESS WIRE)--The global online bus ticketing service market is expected to post a CAGR of nearly 25% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is evolving online travel booking behavior of consumers. With the growing popularity of Internet-enabled products and services, travelers are moving towards online travel bookings for domestic as well and international flights, bus tickets, train tickets, cabs, and hotels. Online booking makes its easy for travelers to plan their trips and is thus becoming a very competitive market.
This market research report on the global online bus ticketing service market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing focus on marketing and promotional activities for customer acquisition as one of the key emerging trends in the global online bus ticketing service market:
Global online bus ticketing service market: Increasing focus on marketing and promotional activities for customer acquisition
The presence of several local and few global online bus ticketing providers makes the market significantly competitive. Innovative marketing strategies will play a significant role in differentiating players from their competitors. Some of the strategies adopted by the key players include discounts on first orders or during festivals and holidays. Several vendors also provide personalized services and offers for frequent travelers.
“There is high demand from individual and commercial customers. Tech-savvy customers prefer to book through web portals and mobile apps for their personal or work-related travel. In both developed and emerging markets, corporate offices are partnering with online bus ticketing service providers to facilitate services for their employees,” says a senior research analyst for retail goods and services.
Global online bus ticketing service market: Segmentation analysis
This market research report segments the global online bus ticketing service market by platform (mobile apps and websites) and geographical regions (APAC, EMEA, and the Americas).
In 2017, the Americas dominated the market with a share of over 41%, followed by EMEA and APAC respectively. Although APAC held the smallest share of the market in 2017, it is expected to exhibit the maximum growth over the forecast period, while EMEA will see a significant drop in its market share by 2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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