EMPLOYEE TRANSPORTATION SERVICES MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Employee Transportation Services Market Analysis:

The estimated size of the Corporate Employee Transportation Service Market is USD 36.21 billion in 2023, with an expected growth to USD 46.97 billion by 2028, at a CAGR of 5.34% during the forecast period (2023–2028).

The COVID-19 pandemic has adversely affected the market by compelling many companies to adopt work-from-home policies, resulting in reduced employee transportation. However, as economies recover from the lockdown, a return to office is anticipated to provide transportation service operators with numerous opportunities in the coming years. Furthermore, governments in various states are taking initiatives to improve employee commute systems. For instance,

In April 2022, the Baltimore Mayor announced the launch of the city’s innovative transportation program, “Let’s Ride to Work,” in collaboration with Lyft, Inc. The program aims to assist newly hired Baltimore City residents by providing free rides to and from work for the first four weeks. This initiative is funded by the American Rescue Plan Act and is part of Baltimore City’s COVID-19 employment recovery strategy.

Over the long term, employee transportation services are gaining popularity as people become more aware of the significance of improved transportation safety measures. Additionally, with the low prices offered by transportation providers, employees are opting for them to save time and effort when traveling. Therefore, players are introducing new product developments and launches for employee transportation services. For instance,

In November 2022, CharterUP, the fully integrated charter bus marketplace for corporations, consumers, and operators, announced the national launch of Corporate Shuttles, a new platform for booking and managing day-to-day employee transportation. Hilton, Hyatt, Sysco, H-E-B, Texas Instruments, and other companies are currently using CharterUP to address their daily corporate shuttle needs.

The rising incidents of transportation insecurity, assaults, rude behavior, and high fees in ride-hailing and ride-sharing vehicles have prompted employers to consider their employees’ safety. This factor is also responsible for driving market growth.

Asia-Pacific is expected to dominate the market due to the growing corporate office presence. This is because many North American and European MNCs are establishing offices, factories, warehouses, and plants in countries such as India, China, and the Philippines, owing to rising demand for goods and low labor costs. For instance,

In April 2022, Siam Rajathanee Public Co., Ltd (SO), a personnel recruitment service provider and a rental and service business, partnered with SWAT Mobility Pte Ltd (SWAT Mobility), Southeast Asia’s leading transportation technology provider. The companies collaborated to launch the “SWAT Mobility” application to improve employees’ commute experience to meet the demands of businesses in both the public and private sectors.

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