Introduction to Transportation Aggregators
Transportation aggregator is a program that provides a selection of transportation facilities as core business either stand-alone or in partnerships to solve cascading transportation problems. Transportation is not only limited to people but also include goods and animals. Transportation aggregators include passenger vehicles like buses, cars and aircrafts, logistic vehicles like trucks and ships along with other commercial vehicles. These services shorten the gap between traveler and the transportation service providers and can be availed through online portals and mobile applications.
Major companies in the transportation aggregators market are providing aggregation services through roadways which are used to transmit goods over short and medium distances. It also helps the people to commute over these distances without facing the problem of overcrowding in public transports. These services are owned by both public and private entities. Railway transportation aggregation service is handled by government. To transport high volume of heavy cargos over long distances, railways are used. Airways are used as transportation aggregators when there is a need for intra-country transportation of passengers and goods, whereas, seaways segment accounts for largest percentage share in terms of value for transportation of cargo amongst the four modes of transportation of goods. It includes carriers, seaports involved in the movement of goods and passengers through water.
Market Size and Forecast
The market is anticipated to record a CAGR of around 8.46% over the forecast period i.e. 2019-2027. The market is segmented by mode of transportation, type of vehicles, by mode of payment and customer type. The payment mode is further segmented into cash, online payments and mobile wallets, out of which, the mobile wallets segment is anticipated to have significant growth on account of ease to the customers as by making payments through these wallets they get to enjoy different discounts and offers.
With the technological advancements in the form of smartphones and internet, the transportation aggregators are able to reach the users more effectively. These technological advancements provide the users with the facility to contact the aggregators from anywhere and at any time which is estimated to drive the market growth. The transportation aggregators provide the users with different payment options for the services provided such as secure online payment, cash on delivery and mobile wallets giving them the comfort of choice. If the customers do not prefer carrying cash with them, they can opt for online payment or payment through mobile wallets with a chance of getting discounts along with other offers. These factors are estimated to enhance the customer satisfaction and promote the business of transportation aggregators along with attracting more number of users, further leading to the expansion of the market. CLICK TO DOWNLOAD FREE SAMPLE REPORT
The technological advancements in the form of smartphones along with growing penetration of internet are aiding the transportation aggregators to reach large number of users and provides them the facility to contact the aggregators from anywhere and at any time. These factors are anticipated to boost the growth of the market in upcoming years.
Different Payment Options
There is availability of different payment options such as online payment, cash on delivery and mobile wallets. The preference of consumers is towards using mobile wallets owing to the sense of security over money theft or other options of loss. Accessibility of different options for payment is estimated to expand the growth of the market throughout the forecast period.
Reduction in Cost of Commuting and Delivery of Goods
These aggregators provide huge discounts on the cost of services which thereby reduces the cost of commuting and delivery of goods, providing them an edge over their competitors. These factors are anticipated to drive the growth of the market over the forecast period.
Variant Rules and Regulations
Different countries have variant modes of operation, rules and regulations, which is a huge challenge that transport aggregators are facing for establishing their business. Additionally, there is non-availability of these services in developing or less populated areas. These factors are estimated to hinder the growth of the market over the forecast period.
Our in-depth analysis of the global transportation aggregators market includes the following segments:
By Mode of Transportation
By Type of Vehicles
By Payment Mode
On the basis of regional analysis, the transportation aggregators market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market in Asia Pacific is expected to witness highest growth rate during the forecast period on the back of inclination of their population towards trending mobile solutions. The market in North America is expected to witness highly competitive growth on the back of highly integrated supply chain network. The market in Middle East and Africa and Latin America region is at the nascent stage, aggregators are anticipated to slowly and gradually expand their in these regions.
The transportation aggregators market is further classified on the basis of region as follows:
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