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Public Transportation - Sweden

Sweden

Sweden is projected to witness a significant growth in its Public Transportation market revenue, which is expected to reach US$2.82bn by 2024.
Moreover, an annual growth rate (CAGR 2024-2028) of -0.72% is expected, resulting in a projected market volume of US$2.74bn by 2028.
In terms of users, the Public Transportation market is expected to witness a rise in the number of users, which is projected to reach 6.92m users by 2028.
The user penetration rate is expected to be 65.2% by 2024 and 63.5% by 2028, whereas the average revenue per user (ARPU) is expected to be US$0.40k.
In addition, the online sales of the Public Transportation market are expected to generate 40% of the total revenue by 2028.
It is worth mentioning that United States is projected to generate the highest revenue in the Public Transportation market as compared to other countries, which is expected to reach US$50,310m in 2024.
Sweden's public transportation prioritizes sustainability with an extensive network of electric buses, trams, and trains, reducing carbon emissions in urban areas.

Key regions: United States, Indonesia, China, Saudi Arabia, Europe

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Analyst Opinion

The Public Transportation market in Sweden has been experiencing significant growth in recent years. This can be attributed to a number of customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: One of the main customer preferences driving the growth of the Public Transportation market in Sweden is the desire for convenience and efficiency. With an increasing urban population and limited parking spaces in cities, many people are opting for public transportation as a more convenient and cost-effective way to travel. Additionally, the focus on sustainability and reducing carbon emissions has led to a growing preference for public transportation over private vehicles.

Trends in the market: A key trend in the Public Transportation market in Sweden is the shift towards digitalization and the integration of technology. This includes the implementation of smart ticketing systems, real-time information updates, and mobile apps for trip planning and payment. These technological advancements have made it easier for customers to access and use public transportation, leading to an increase in ridership. Another trend in the market is the expansion of public transportation networks. This includes the development of new tram and metro lines, as well as the improvement of existing bus and train services. The aim is to provide better connectivity and accessibility to different parts of the country, making public transportation a more attractive option for both urban and rural residents.

Local special circumstances: Sweden has a well-developed infrastructure and a strong commitment to sustainability, which has contributed to the growth of the Public Transportation market. The country has invested heavily in public transportation infrastructure, including the construction of new stations, depots, and maintenance facilities. Additionally, Sweden has implemented policies and initiatives to promote the use of public transportation, such as congestion charges in major cities and subsidies for public transportation operators.

Underlying macroeconomic factors: The growth of the Public Transportation market in Sweden is also influenced by underlying macroeconomic factors. The country has a stable economy and a high standard of living, which allows for increased investment in public transportation infrastructure and services. Furthermore, the government has made public transportation a priority, allocating funds for its development and maintenance. In conclusion, the Public Transportation market in Sweden is experiencing growth due to customer preferences for convenience and sustainability, as well as trends towards digitalization and network expansion. The local special circumstances, such as the focus on sustainability and the commitment to public transportation infrastructure, have also contributed to this growth. Additionally, the underlying macroeconomic factors, including a stable economy and government support, have created a favorable environment for the development of the Public Transportation market in Sweden.

Methodology

Data coverage:

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

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.