Smart Commute Market: Future Growth, Regional Trend, Size, Analysis and Forecast To 2027
A New Market Study, titled “Smart Commute Market Upcoming Trends, Growth Drivers and Challenges” has been featured on Market Research Future.
The smart commute market is predicted to touch USD 104.22 billion and at a whopping 25.52% CAGR between 2017- 2023, states the recent Market Research Future (MRFR) analysis. Smart commute, simply put, is traveling from a particular place to another regularly through metro, bicycle pooling, bike pooling, vanpooling, and others. Traffic management, parking management, smart ticketing, mobile app, and others are different solutions. These services provide eco-friendly traveling experience to people and make an active alternative to transportation for enterprise employees that can pick from effective commute option, which along with reducing the congestion, also helps in lowering the transportation cost.
Various factors are propelling the global smart commute app market share. According to the recent MRFR report, such factors include high demographic rates, growing urban population, the use of smart and connected technologies in transportation infrastructure, growing demand for transportation as a service, decline in ownership of vehicles with shared mobility. Additional factors adding market growth include several upcoming railway projects, growing urbanization and industrialization, demand for public transport and smart transportation solutions as well as related components, services, and software, advances in technology like the implementation of electronic payment systems, traveler information systems, and automatic vehicle location systems, and benefits such as an increase in traveler convenience, reduce traffic congestion, lower emission levels, and improve fuel economy.
On the contrary, high component cost, concerns about security and management & data storage, the slow growth rate of GDP, susceptibility to cyberattacks, and the on-going COVID-19 impact are factors that may impede the global smart commute application market growth over the forecast period.
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The MRFR report highlights an inclusive segmental analysis of the smart commute market based on solution and type.
Based on type, the global smart commute market is segmented into metro, bicycle pooling, bike pooling, vanpooling, carpooling, and others.
Based on the solution, the smart commute market is segmented into traffic management, parking management, smart ticketing, mobile app, and others.
Based on the region, the global smart commute market report covers the recent trends and growth opportunities across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, the APAC region is predicted to have the lions share over the forecast period. Strict government norms and regulations related to greenhouse gas emissions, adoption of car sharing services, and the upcoming availability of zero-emission car sharing services are adding to the global smart commute market growth in the region.
The global smart commute market in Europe is predicted to have healthy growth over the forecast period. Improved socio-economic conditions in France, the UK, and Germany are adding to the global smart commute market growth in the region.
The global smart commute market in North America is predicted to have sound growth over the forecast period. Favorable incentives introduced by the government for promoting carpooling services are adding to the global smart commute market growth in the region.
The global smart commute market in the RoW is predicted to have steady growth over the forecast period.
Leading contenders profiled in the global smart commute market report include Carma Technology Corporation (Europe), Turo (US), BlaBlaCar (France), CommuteSMART (US), Oakland Smart Commute (California), Central Indiana Regional Transportation Authority (CIRTA) (US), ZipGo Technologies Pvt. Ltd (India), Metrolinx (Canada), ANI Technologies Pvt. Ltd.(India), Uber Technologies Inc. (India), Quick Ride (India), ePoolers Technologies Pvt. Ltd. (India), and South Florida Commuter Services (US). Industry players have incorporated several strategies such as mergers, new product launches, strategic alliances, geographic expansions, extensive R&D activities, new product development, and others to stay at the forefront.
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