The bus industry is shifting into high gear, fueled by a digital revolution. A new report titled “Traveltech 2.0: The Next Phase of Digitally Empowering the Indian Traveler,” jointly produced by the Internet and Mobile Association of India (IAMAI) and Grant Thornton Bharat, predicts a remarkable growth trajectory for the sector.
The report estimates the Indian bus industry will reach a value of a whopping Rs 104,000 crore by 2026, translating to a healthy compound annual growth rate (CAGR) of 6.64%. This growth is expected to be fueled by a surge in digital adoption, transforming the way Indians travel by bus.
Here’s what to expect on the road ahead:
- Seamless Ticketing: Long queues at bus terminals will become a thing of the past. Online booking platforms and mobile apps will streamline the ticketing process, making it faster and more convenient for passengers.
- Tech-powered Efficiency: Imagine personalized fares based on AI algorithms or helpful chatbots answering your travel queries. These are just some of the innovative ways technology will enhance the bus travel experience.
- Rise of the Private Sector: The report predicts a CAGR of 7.37% for private bus operators, highlighting their potential to thrive in this digital age.
- Collaboration is Key: The report suggests fruitful partnerships between government entities (like State Transport Undertakings or STUs) and online travel agencies (OTAs) can further revolutionize the industry. This could lead to easier booking options, better integration with other travel modes, and wider reach for bus operators, especially in remote areas.
This digital transformation isn’t just about convenience; it’s about economic empowerment. By making bus travel more accessible and efficient, the industry can play a vital role in connecting people across India’s vast landscape.
While the report paints a promising picture, it’s important to note that specific details and the exact timeline for these developments remain unspecified. Nevertheless, one thing is clear: the Indian bus industry is set for an exciting journey driven by the power of technology.
