The Corporate Employee Transportation Service Global Market Report 2024 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 Corporate Employee Transportation Service Global Market Report 2024, The corporate employee transportation service market size has grown strongly in recent years. It will grow from $32.84 billion in 2023 to $35.85 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to rising urbanization, focus on employee wellbeing, traffic congestion and commute challenges, corporate sustainability initiatives.
The corporate employee transportation service market size is expected to see strong growth in the next few years. It will grow to $49.33 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to emphasis on flexible work arrangements, focus on green and sustainable transport, employee retention and attraction. Major trends in the forecast period include partnerships with ride-hailing and tech platforms, employee commute subsidies and incentive programs, focus on last-mile connectivity, integration of contactless payment systems, remote work-related transportation solutions.
Growing corporate office presence in the Asia-Pacific region is expected to propel the growth of the corporate employee transportation services market going forward. A corporation's main place of business is regarded as a corporate office. Corporate employee transportation services provide transportation services for the employees working in the corporate offices, as a result, the growing corporate office increases the demand for the corporate employee transportation services market. For instance, in 2022, according to the economic Times Indian-based newspaper, In the first quarter, the top eight cities added 11.9 million square feet (sq ft) of new office space, up 13% from the same period last year. Bengaluru recorded new completions of 2.5 million sq ft, which was the second biggest volume addition for the quarter. Pune led all markets with new supply additions of 3.6 million sq ft, an increase of 107% on the year. Therefore, increasing corporate office presence in the Asia-Pacific region is expected to boost demand for corporate transportation services during the forecast period.
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The corporate employee transportation service market covered in this report is segmented –
1) By Ownership: Company-owned Transportation Service, Outsourced Transportation Service, Rentals, Pick and Drop Transportation Service
2) By Passenger Vehicle Type: Cars, Vans, Bus
3) By Service Type: Mobility as a Service (MaaS), Software as a Service (SaaS)
Major companies operating in the corporate employee transportation service market are focusing on strategic partnership, to provide reliable services to customers. Strategic partnership refers to a mutually beneficial partnership between two or more independent entities who work together to achieve shared goals aligned with their individual strategic objectives. For instance, in May 2023, Inframantra, an India-based real estate company, partnered with BluSmart Mobility, an India-based ride-sharing company, to develop employee transportation and mobility services. This partnership sets a precedent for other companies in the real estate and transportation sectors to embrace sustainable practices and prioritize electric mobility.
The corporate employee transportation service market report table of contents includes:
1. Executive Summary
2. Corporate Employee Transportation Service Market Characteristics
3.Corporate Employee Transportation Service Market Trends And Strategies
4.Corporate Employee Transportation Service Market analysis
5.Corporate Employee Transportation Service Market Size And Growth
6.Corporate Employee Transportation Service Segmentation
7.Corporate Employee Transportation Service Regional And Country Analysis
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27.Corporate Employee Transportation Service Competitive Landscape And Company Profiles
28. Corporate Employee Transportation Service Key Mergers And Acquisitions
29. Corporate Employee Transportation Service Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Massachusetts Bay Transportation Authority
- Smart24x7 Services Private Limited
- Global Charter Services Ltd.
- Prairie Bus Line Limited
- Kerala Transport Corporation
- RETHMANN AG & Co. KG- Transdev
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