The pre-book airport transfer industry is expected to grow at a compound annual growth rate (CAGR) of 23.6% from 2021 to 2031 globally. In the pre-book airport transfer industry, the integration of artificial intelligence (AI), chatbots, digital payments, and other cutting-edge technologies is becoming increasingly popular in airport transfer services. In light of this, major firms continuously concentrate on launching cutting-edge technology to improve services.
Adoption of AI in airport transfer services has improved the efficiency encouraging the consumers to opt for convenient and leisure services. This in turn is accelerating the sales in the market.
Due to easy internet availability, consumers no longer have to wait in a queue or browse through websites for endless time to book the best airport transfer option. There has been tremendous growth in passenger traffic with the steady decline in the cost of air travel, a reduction of over 70% since 1970.
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The decrease in the cost has led to an increase in accessibility of air travel democratization. Further, air travel is becoming increasingly accessible in the developing countries, with various low-cost travel options, it is no longer a privilege and luxury commodity.
Moreover, chat-bot integrated into the airport transfer booking application or website enables online chat and offers information on nearby vehicle details. Customers can book cars, schedule pickup times, find out car fares, driver details and more easily via text-to-voice or regular text chat.
With these technologies, information about the flight arrival and landing time becomes really convenient and easy. Alongside this, guidance towards the shortest path with the minimum congestion in an airport, assistance for accurately scheduling a pickup time, the vehicle list and booking a ride at just a single touch are some of the factors aiding market growth.
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For instance, in 2019, Avis Budget Group, partnered with Verizon and Edison Interactive, and launched an all-in-one digital travel assistant exclusively available to Avis, Budget, and Payless Car Rental customers.
Key Takeaways from the Pre-Book Airport Transfer Market Study
- In terms of transportation, the public transportation is expected to dominate, accounting for a notable share in the pre-book airport transfer market.In terms of purpose, leisure travel is expected to hold a noteworthy revenue share.
- More than 40% of travellers prefer to travel for leisure purpose for enjoyment, amusement, and pleasure.In terms of booking channel, the in-person booking segment will account for lion’s share during the forecast periodIn terms of travel type, solo traveller is anticipated to garner significant market growth during the upcoming years.
- Russia is expected to witness highest growth, registering 6.8% CAGR during the forecast period.Germany is expected to be one of the most lucrative market across Europe, contributing revenues at 2.3%“Competition in the market is expected to be fierce with increasing adoption of innovative technologies. Key players are focusing on acquisition & collaboration strategies to expand their global presence.
- Also, expansion of airport infrastructure, rising air traffic and availability low cost airlines are expected to bolster the growth of the global pre-book airport transfer industry” says an FMI analyst.
Major players present in the pre-book airport transfer market
- SuperShuttle International Company
- Lyft, Inc.
- Uber Technologies, Inc.
- Keys Shuttle
- AAA Conch Limo. LLC
- A&M Rentals
- Avis Company
- The Hertz Corporation
- Greyhound Lines, Inc.
- Alamo Enterprise
- Avis Budget Group
- Charter Vans, Inc.
- Dayton Express Cab Co.
- Orlando Black Car Inc.
- Apollo’s Chariots Inc.
- Advanced Shuttle Company
- Charles River Transportation Management Association
- Yellow Radio Service
- Budget Rent a Car System, Inc.
Market by Category
By Traveler Type:
- Domestic
- International
By Transportation Type:
- Private Transportation
- Taxes & Shuttles
- Car Rentals
- Ride Shares
- Others
- Public Transportation
- Inter-City Shuttles
- Inter-Terminal Shuttles
- Others
By Age Group:
- 23-25 Years
- 26-45 Years
- 45-60 Years
- More Than 60 Years
By Purpose/Tourist Type:
- Business
- Leisure
- Visit Friends/Relatives
- Education
- Conventions
- Religious
- Health Treatment
By Booking Channel:
- Phone Booking
- Online Booking
- In Person Booking
By Traveler Type:
- Independent Traveler
- Group Traveler
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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