Smart Commute Market Value Worth $86,568.73 Million by 2028, Says The Insight Partners

According to The Insight Partners research reports on Smart Commute can help you gain crucial insights regarding the key drivers and opportunities.

NEW YORK, UNITED STATES, December 8, 2022 /EINPresswire.com/ -- According to our latest market study on “Smart Commute Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Solution, End User, and Geography,” the market is expected to grow from US$ 30,469.49 million in 2021 to US$ 86,568.73 million by 2028; it is estimated to grow at a CAGR of 16.1% from 2021 to 2028.

Smart Commute Market: Competitive Landscape and Key Developments

BlaBlaCar, CommuteSmart, Enterprise Holdings Inc, ePoolers Technologies Pvt. Ltd, Golden Concord Holdings Limited, Oakland Smart Commute, Quick Ride, Transhelp Technologies Pvt Ltd, Uber Technologies Inc., and Smart Commute are among the key players profiled during this market study. In addition, several other essential smart commute market players were studied and analyzed to get a holistic view of the global smart commute market and its ecosystem.

In January 2021, a city-based mobility firm built an app platform that integrates routes with prices for the first time, combining the bus, metro, Uber, Yulu, and other last-mile choices.

In January 2022, Tummoc, a multi-modal mobility firm, announced to expand operations to ten other cities, including Delhi and Mumbai, by 2022.

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Companies Profiled in this report includes: BlaBlaCar,CommuteSmart,Enterprise Holdings Inc,ePoolers Technologies Pvt. Ltd,Golden Concord Holdings Limited,Oakland Smart Commute,Quick Ride,Transhelp Technologies Pvt Ltd,Uber Technologies Inc.,Smart Commute

Smart Commute Market: Type Overview
Based on type, the smart commute market is segmented into carpooling, vanpooling, bike pooling, metro, and others. The carpooling segment is anticipated to hold a significant share in the global smart commute market, and it is expected to grow at the highest CAGR. The smart commute is defined as regularly traveling from one point to another via carpooling, vanpooling, biking, bicyclists, or taking the metro. Public transit companies, governments, and other stakeholders have developed a complete strategy that considers smart travel and shares it with the public to construct more powerful transportation in metropolitan regions.

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People who are not capable of purchasing a car can experience seamless travel through mobility services. According to the Bureau of Transportation Statistics, the average cost of owning and operating a vehicle is ~US$8,858, assuming 15,000 km of drive per year. Mobility-as-a-service (MaaS) reduces these costs for the user by maximizing the usage of transportation services such as carpooling and ride-hailing. It also reduces traffic congestion and overall automobile emissions in cities. As a result, digitally enabled carpooling and ride-hailing efficiently manage transport demands and provide a convenient and environmental-friendly alternative to private automobile ownership. Moreover, according to Deloitte report, 55% of the world's population currently lives in cities, and estimations suggest that by 2050, ~68% of the population will be living in cities. The rapid pace of urbanization is leading to traffic congestion. MaaS concept can be a better choice for reducing traffic congestion by making greater use of existing public and private transportation infrastructure. The urgent demand for effective solutions to handle traffic in smart cities in a faster, less expensive, and more convenient manner is expected to fuel the MaaS market growth by 2028. Therefore, the increasing trend of MaaS is expected to fuel the growth of the global smart commute market.

Consumers are hesitant to make large investments in vehicles that are only consumed for a short time. As a result, bike pooling is gaining popularity in European markets because of its ease of use and low cost. Despite the recent development of taxi players such as Uber and Lift, major cities are increasingly turning to two-wheeler ride-hailing applications to alleviate traffic congestion and environmental issues. Two-wheeler rental firms are rising by offering 24-hour customer service and free pickups and drops at designated places. Helmets, first-aid kits, and a phone holder placed on the bike are available in these rental two-wheelers. Optional additions, such as free 4G internet or pocket Wi-Fi, are especially popular in tourist destinations to maximize client advantages. Such factors are contributing to the growing adoption of smart commuting services, leading to the smart commute market growth.

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