PUBLISHER: The Business Research Company | PRODUCT CODE: 1429630
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429630
School and employee bus services encompass transportation modes that utilize buses and other motor vehicles to ferry individuals to and from school or transport employees to and from their workplace. These services aim to enhance the safety of children, reduce travel time, and mitigate carbon emissions, contributing to environmental protection by minimizing air pollution.
The primary categories within the school and employee bus service markets include student bus services and employee bus services. Student bus services involve the provision of buses and motor vehicles dedicated to transporting students to and from school. The market is further divided based on ownership into company-owned transportation services, outsourced transportation services, rentals, and pick-and-drop transportation services. Additionally, the segmentation by service type includes mobility as a service (MaaS) and software as a service (SaaS).
The school and employee bus services market research report is one of a series of new reports from The Business Research Company that provides school and employee bus services market statistics, including school and employee bus services industry global market size, regional shares, competitors with a school and employee bus services market share, detailed school and employee bus services market segments, market trends and opportunities, and any further data you may need to thrive in the school and employee bus services industry. This school and employee bus services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The school and employee bus services market size has grown strongly in recent years. It will grow from $58.3 billion in 2023 to $63.96 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The expansion observed in the historical period can be ascribed to robust economic growth in emerging markets, a low-interest-rate environment, rapid urbanization, and lifestyle changes, coupled with an escalation in safety threats.
The school and employee bus services market size is expected to see strong growth in the next few years. It will grow to $89.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The anticipated expansion in the forecast period can be credited to a growing population, technological advancements, a focus on reducing carbon emissions, and an increasing number of corporate entities and new educational institutions. Key trends expected in the forecast period encompass the integration of USB, Wi-Fi, and large-screen displays on buses, a rise in bus safety features, investments in electric buses, the adoption of hybrid buses, the implementation of advanced technologies, and increased activity in mergers and acquisitions.
The anticipated growth in the school and employee bus services market is expected to be driven by the increasing enrollment of children in schools. The enrollment of children in schools involves the formal registration process for attending an educational institution, and the demand for school bus services is directly influenced by the number of enrolled students. For example, in June 2022, the Texas Education Agency, a division of the Research and Analysis Office of Operations in the United States, reported that Texas public schools experienced an enrollment of 5,427,370 students during the 2021-22 academic year, indicating a growth of 55,784 students or a 1.0% increase compared to the previous school year (2020-21). Therefore, the upward trend in children's enrollment in schools is expected to drive the growth of the school and employee bus services market.
Government initiatives are also poised to contribute to the growth of the school and employee bus services market. Government initiatives involve plans or actions taken by authorities to address specific issues or problems and are often funded through various sources, including taxes, grants, and donations. In the context of school and employee bus services, government initiatives play a crucial role in providing financial assistance to school districts and businesses. This assistance is directed towards the purchase of new buses, the upgrading of existing buses, and the enhancement of bus safety features. As an illustration, in November 2021, the United States Department of Energy, an executive department responsible for developing and executing international energy policy, amended the Clean School Bus program. This initiative allocates funds to qualified applicants for the replacement of old school buses with new ones that emit little to no pollution. Hence, government initiatives significantly drive the growth of the school and employee bus services market.
Technological advancements emerge as a prominent trend gaining traction in the school and employee bus services market. Leading companies within this market are actively engaging in partnerships to develop and integrate innovative technologies, aiming to offer reliable services to their customers. For example, Lynchburg City Schools, a U.S.-based company focused on providing an academic environment and learning experiences, introduced Traversa Ride 360 in March 2023. This specially designed smartphone app and website empower parents to track their child's bus location in real time, access details about the child's bus routes, and receive alerts about any delays or changes. Additionally, the technology allows bus drivers to use tablets to verify the presence of every student, ensuring they board and disembark at the correct stops.
Major companies operating in the school and employee bus services market report are FirstGroup PLC, National Express Group, Student Transportation Inc., Transdev, North America Central School Bus, Cook-Illinois Corporation, Riteway Bus Service, Inc., WE Transport Inc., Krapf Group, Birnie Bus Service Inc., Energos Services India Pvt. Ltd., School Transport Services, Xiaoche001, Charter House, Didi Chuxing Technology Co., Takao Transport Service Co. Ltd., The Coach People, MK Chauffeur Drive, Grupo CHAPIN, Budapesti Kozlekedesi Kozpont (BKK), Zagrebacki elektricni tramvaj, GSP Belgrade, First Student, Royal Coach Tours, StorerCoachways, Transportation Charter Services, DATTCO Inc., The Free Enterprise System, Northfield Lines, Arrow Stage Lines, Rohrer Bus, All Board School Transportation, GOGO Charters, Passaro Marron, Viacao Aguia Branca, Auto Viacao Catarinense, Sao Geraldo & Gontijo, Autotransportes Andesmar S.A., Nueva Chevallier S.A., Autobuses Santa Fe S.R.L., Transportes Automotores Chevallier S.A., Velocity School Buses Transportation, Emirates Transport Center of School Transport, Dubai Taxi Corporation, Yellow Bus Ghana, Ashflex School Bus Services Limited, Golden Arrow Bus Services, Rea Vaya, PUTCO, Intercape, Rainbow Coaches, Stabus AMKE
Asia-Pacific was the largest region in the school and employee bus services market in 2023. Western Europe was the second largest region in the school and employee bus services market. The regions covered in the school and employee bus services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the school and employee bus services market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The school and employee bus services market includes revenues earned by entities by providing transportation facilities for employees and students on a regular basis to pick up and drop off, saving time. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
School And Employee Bus Services Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on school and employee bus services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for school and employee bus services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The school and employee bus services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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