SummaryA New Market Study, titled “Smart Commute Market Upcoming Trends, Growth Drivers and Challenges” has been featured on Market Research Future.Market Analysis 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.
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.
Regional AnalysisBased 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).