Hyderabad, July 14, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Corporate Employee Transportation Service Market Report (2023-2028)," the market is estimated at USD 36.21 billion in 2023. It is expected to register a CAGR of 5.34% during the forecast period.
Company-owned transportation refers to the vehicles which a company either owns or purchases to create the availability of transportation for its employees. A few examples of vehicles that can be used to provide transportation services to employees are buses, cars, and vans.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 36.21 billion |
| Market Size (2028) | USD 46.97 billion |
| CAGR (2023-2028) | 5.34% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Rise in the instances of transportation insecurity. |
| Initiatives of the governments to improve commute systems. |
Which are the Top Companies in the Corporate Employee Transportation Service Market?
The corporate employee transportation service market is highly fragmented, in which only a few players make use of the technological assistance offered for fleet and employee commute management. In addition to making use of the recent assistive technology, many of them are motivated to broaden the scope of their offerings.
The most notable players in the corporate employee transportation service market are,
- Busbank (Global Charter Services Ltd.)
- Transdev
- Prairie Bus Line Limited
- Move-In-Sync
- First Class Tours
- Janani Tours
- Shuttl
- Eco Rent a Car
- Sun Telematics
Other Reports That Might Be of Your Interest:
- Europe Light Commercial Vehicle Rental Market Report - The European light commercial vehicle rental market value is estimated at USD 10.48 billion in 2023. It is expected to reach USD 13.44 billion by 2028, registering a CAGR of 5.10% during the forecast period (2023-2028).
- Brazil Vehicle Rental Market Report - The Brazilian vehicle rental market is expected to register a CAGR of 8.00% during the forecast period (2023-2028).
Key Highlights from the Corporate Employee Transportation Service Market Report:
Rise in the Use of the Internet is Bound to Drive the Market
- A boost in the usage of the internet in recent years by people around the world has provided a substantial push to markets like vehicle rentals and transportation services.
- Transportation services booked from the internet offer certain advantages over traditional bookings, like pre-estimated fees, on-time arrival, comfortable journey, and booking ease.
Growing Demand for Transportation Services in Asia-Pacific
- One major reason for Asia-Pacific being the largest and fastest-growing market for transportation services is the constant rise in the number of corporate companies in the region.
- Moreover, many players in the market are implementing collaborations, partnerships, and other growth strategies to capture a booming market share in the region.
What are the Latest Developments in the Corporate Employee Transportation Service Market?
- In September 2021, a corporate shuttle service was launched by Uber India to make commuting easier for corporate employees.
- In December 2021, the largest electric bus fleet was launched in the Nordic region in Gothenburg, Partille, and Molndal by Transdev, with 145 buses.
Mordor Intelligence has Segmented the Corporate Employee Transportation Service Market Based on Ownership, Passenger Vehicle Type, Service Type, and Geography:
- By Ownership (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Company-owned Transportation Service
- Outsourced Transportation Service
- Rentals
- Pick and Drop Transportation Service
- By Passenger Vehicle Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Cars
- Vans
- Bus
- By Service Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Mobility as a Service (MaaS)
- Software as a Service (SaaS)
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- France
- Rest of Europe
- Asia-Pacific
- India
- China
- Japan
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- United Arab Emirates
- Saudi Arabia
- Rest of the Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Corporate Employee Transportation Service Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Indonesia Car Rental Market Report - The Indonesian car rental market size is estimated at USD 580.49 million in 2023. It is expected to reach USD 1.22 billion by 2028, registering a CAGR of 16.09% during the forecast period (2023-2028).
- ASEAN Car Rental Market Report - The ASEAN car rental market is expected to register a CAGR of 15.70% during the forecast period (2023-2028).
- Spain Car Rental Market Report - The Spanish car rental market is expected to register a CAGR of 10.13% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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