Global School And Employee Bus Services Market Analysis 2024 – Estimated Market Size And Key Drivers

The School And Employee Bus Services by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s School And Employee Bus Services, 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  growth in the historic period can be attributed to strong economic growth in emerging markets, low interest rate environment, rapid urbanization, and lifestyle changes and increased 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 growth in the forecast period can be attributed to rising population, technological advances, emphasis on cutting carbon emissions, and increasing number of corporates and new educational institutes. Major trends in the forecast period include integration of usb, wi-fi and large screen displays on buses, increase in bus safety features, investments in electric buses, installing hybrid buses, implementation of advanced technologies, and mergers & acquisitions.

Increasing enrolment of children in schools is expected to propel the growth of school and employee bus services market. Enrolling children in school involves the formal registration of a child to attend an educational institution and making choices about the courses or activities they will be involved in. The utilization of school bus services is affected by the quantity of children who have been enrolled in schools. For instance, in June 2022 Texas Education Agency, a US-based division of Research and Analysis Office of Operations stated that during the 2021-22 academic year, Texas public schools had an enrollment of 5,427,370 students, which marked a growth of 55,784 students, equivalent to a 1.0% increase compared to the previous 2020-21 school year. Therefore, increasing enrolment of children in schools is expected to propel the growth of school and employee bus services market.

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The school and employee bus services market covered in this report is segmented –
1) By Type: Students Bus Services, Employee Bus Services
2) By Ownership: Company Owned Transportation Service, Outsourced Transportation Service, Rentals, Pick and Drop Transportation Service
3) By Service Type: Mobility as a Service (MaaS), Software as a Service (SaaS)

Technological advancements are a key trend gaining popularity in the school and employee bus services market. Major companies operating in the school and employee bus services market are undergoing partnerships to develop new innovative technologies to provide reliable services to the customers. For instance, in March 2023, Lynchburg City Schools, a US-based company that provides academic environment and learning, launched Traversa Ride 360. It is a specially created smartphone app and website that allows parents to track their child’s bus whereabouts in real time, view the child’s bus routes, and receive warnings about delays and changes. It enables the bus drivers to use tablets to check that every student is present and that they are boarding and disembarking at the appropriate stops.

The school and employee bus services market report table of contents includes:
1. Executive Summary

2. School And Employee Bus Services Market Characteristics
3. School And Employee Bus Services Product/Service Analysis -Product/Service Examples
4. School And Employee Bus Services Market Trends And Strategies
5. School And Employee Bus Services Market – Macro Economic Scenario
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6. Global School And Employee Bus Services Market Competitive Benchmarking
7. Global School And Employee Bus Services Market Competitive Dashboard
8. Key Mergers And Acquisitions In The School And Employee Bus Services Market
9. School And Employee Bus Services Market Future Outlook and Potential Analysis
10. Appendix

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