The pre-book airport transfer market is forecasted to grow at a robust compound annual growth rate (CAGR) of 19.3% over the next decade. Starting from a valuation of USD 11,244.2 million in 2024, the market is expected to expand significantly, reaching approximately USD 65,664.6 million by 2034. This growth is driven by increasing demand for convenient, efficient, and tech-driven airport transfer services.
The adoption of AI has enhanced service efficiency, making airport transfer services more convenient and appealing to consumers, thus accelerating market sales. With easy internet access, travelers no longer need to wait in long lines or sift through numerous websites to find the best airport transfer options.
Furthermore, the integration of chatbots into booking platforms enables seamless communication, providing customers with real-time information on nearby vehicle availability, pickup schedules, fares, and driver details via text or voice chat. These technologies also make it easier to track flight arrival times, navigate the quickest routes with minimal congestion, and streamline the booking process with just a touch of a button.
A notable example is Avis Budget Group’s partnership with Verizon and Edison Interactive in 2019, which introduced an all-in-one digital travel assistant for its customers, enhancing the overall airport transfer experience.
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 period
- In 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%
Impact of COVID-19 on the Market
The outbreak of COVID-19 has devastated economies across the globe and impacting the global pre-book airport transfer market negatively. The market players are facing insurmountable and immense challenges due to the global shutdown.
Demand for airport transfer witnessed sudden decline during the FQ-20, with reduced global air traffic at the airport.
However, post-epidemic, safety and hygiene have become the need of the hour, practices for disinfecting the car are followed meticulously. The need for the social distancing regulations and individual mobility is bound to improve the condition of the industry.
For instance, Uber has partnered with experts to develop new safety protocols. This includes providing drivers with Clorox Disinfecting Wipes to the drivers, so that customers can feel safe on their next ride.
Who is Winning?
Several companies are adopting strategies such as mergers and acquisitions as an effective way of maintaining or increasing market share.
Major players present in the pre-book airport transfer market are SuperShuttle International Company Lyft, Inc., Uber Technologies, Inc., Keys Shuttle, AAA Conch Limo. LLC, A&M Rentals, Yellow Radio Service, and Budget Rent a Car System, Inc among others. Aggressive promotional strategies, and advertisements, have driven the market growth of pre-book airport transfer globally.
Leading Brands
- 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.
Key Segments of Market Report
By Traveler Type:
Based on traveler type, the industry is bifurcated into independent traveler and group traveler.
By Transportation Type:
In terms of transportation type, the industry is divided into private transportation and public transportation. The private transportation segment is further categorized into taxis and shuttles, car rentals, ride shares, and others. The public transportation segment is further divided into inter-city shuttles, inter-terminal shuttles and others.
By Age Group:
Depending on age group, the industry is categorized into 23-25 years, 26-45 years, 45-60 years, and more than 60 years.
By Purpose/Tourist Type:
Based on purpose/tourist type, the industry is branched into business, leisure, visit friends/relatives, education, conventions, religious, and health treatment.
By Booking Channel:
In terms of booking type, the industry is trifurcated into phone booking, online booking, and in-person booking.
By Region:
Pre-book airport transfer services market regional analysis is conducted across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
Report Preview: https://www.futuremarketinsights.com/reports/pre-book-airport-transfer-market
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