Outstation bus market growing at CAGR of more than 13% over FY20-25: Report

The report stated that the Indian outstation market is valued at roughly US$ 66 billion in FY20.

Autocar Professional BureauBy Autocar Professional Bureau calendar 29 Mar 2023 Views icon4067 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Outstation bus market growing at CAGR of more than 13% over FY20-25: Report

The outstation bus market is growing at a compounded annual growth rate of 10-13 percent over FY20-25, as per a report by IntrCiy Smart Bus and 1Lattice. 
The report stated that the Indian outstation market is valued at roughly US$ 66 billion in FY20, of which the outstation bus market has a roughly 46 percent share. 

Full stack tech aggregators have democratised the use of superior and end-to-end tech for better operations and consumer experience, it highlighted.  
In India, the outstation travel market remains largely untapped by organised players. Given the country's population and rapid urbanisation, there is an increasing demand for various modes of transportation, including personal and public, the report added. 

"Full-stack tech aggregators have democratised the use of superior end-to-end tech for better operations and consumer experience in the outstation bus market. Our research has shown that full stack tech aggregators have higher customer satisfaction levels compared to others” said Praneet Singhal, Director – Technology & Internet, 1Lattice. 

Commenting on the report, Kapil Raizada, Co-founder - IntrCity SmartBus said “With the rapid urbanisation and increasing demand for affordable transportation options, there is a significant opportunity for the growth of inter-city buses. The report findings suggest that the online penetration for outstation bus travel can potentially reach 25 percent with a shift in customer behaviour and an overhaul in bus operator business operations.”

 

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