The Latin America, Middle East and Africa Public Transportation Market would witness market growth of 8.2% CAGR during the forecast period (2022-2028).
Seven factors assess the usefulness and general attractiveness of various forms of public transportation. The requirements include swiftness, convenience, safety, affordability, closeness, punctuality, and directness. The speed is derived from the overall travel time, including transfers. Proximity refers to the distance passengers must walk or otherwise go before they may board public transportation for the remainder of their journey, as well as how close it brings them to their final destination.
In choosing between competing means of transportation, many people are greatly influenced by direct cost (their trip fare/ticket price) and convenience, as well as by habit. The same people may accept the lost time and substantially increased accident risk associated with private transportation and the initial, operating, and parking expenditures.
Actual journey time on public transportation is less important when it is predictable and relatively pleasant (seats, bathrooms, services), and so may be scheduled and employed for pleasure, productivity, or (overnight) sleep. Many individuals appreciate chauffeured transportation when it is enjoyable, safe, and not too boring.
In Buenos Aires, Argentina, the Argentine Ministry of Transportation organized the "Latin America Workshop on Green Freight Programs" in 2017 with the assistance of several stakeholders. These initiatives demonstrated the government's support for data collecting, infrastructure, and vehicle technology. In addition, the program's primary purpose was to exchange efforts and hasten the regional harmonization of green freight initiatives.
The Brazil market dominated the LAMEA Public Transportation Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $6,293.2 million by 2028. The Argentina market is exhibiting a CAGR of 8.7% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 7.9% during (2022 - 2028).
Based on Mode Type, the market is segmented into Road, Rail and Others. Based on Ticket Distribution Channel, the market is segmented into Offline and Online. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Public Transportation Market is Predict to reach $285.7 Billion by 2028, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BC Transit Corporation, Transport International Holdings Limited, Brussels Intercommunal Transport Company, Metrolink, Transdev Group SA (Caisse des Dépôts et Consignations), Tobu Railway Co., Ltd., and Trenitalia c2c Limited.
By Mode Type
By Ticket Distribution Channel
By Country
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