Public Transportation Software Market reached a value of US $ 880.12 Mn. in 2020. Global Public Transportation Software Market size is estimated to grow at a CAGR of 6.37 %. The market is expected to reach a value of US $ 1356.23 Mn. in 2027.
Public transportation is a needed function for upward the quality of life for people living in areas where traveling by private transportation is cost or time prohibitive. The many public transportations available, like trains, taxis, and buses. Public transportation software offers logistical support as well as fleet and passenger management to transportation agencies. Business software is similar to fleet management software. However, public transportation software offers passenger-oriented features. Globally, governments are competing to achieve improvement in the transportation industry. The emerging trend of smart cities will create a favorable environment for the market for public transportation software as governments make use of these for increasing the services offered to the public. Many countries face issues like poor traffic management, over crowdedness, inadequate capacity of public transportation, and safety concerns.
The rising number of vehicles, expansion and the developing adoption of IoT (internet of things) is projected to open many growth opportunities for the public transportation software market globally. On the flip side, the global public transportation to aftermarket is anticipated to encounter numerous challenges which internet expected to hamper the growth of the public transportation software market. 2020 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years’ trends are considered while forecasting the market through 2027. 2020 is a year of exception and analyzed especially with the impact of lockdown by region.
Global Public Transportation Software Market is segmented into product and application. The MMR report will provide an accurate prediction of the contribution of the various segments to the growth of the public transportation software market size. In 2020, the Large Enterprises segment accounted for a dominant share of over 62.70%. Based on application, the large enterprises segment held the largest market share of 62.70 % in 2020 and is projected to grow at the highest CAGR of XX% over 2020-2027. Transportation management systems provide a single centralized system, with features like carrier tracking, route optimization, analytics, account settlement, and order management. Henceforth, large enterprises heavily spend on advanced technologies to upsurge their overall productivity and efficiency. The demand for scalable, flexible, and convenient services by large enterprises is projected to boost the companies to come up with innovative solutions and new technologies.
The cloud segment is projected to grow at the highest CAGR of 7.25% over 2021-2027. By product, the cloud segment dominated the market, with a market size of US$ XX Mn, in 2020 and to reach US$ XX Mn by 2027, with a CAGR of 7.25%. The cloud-based product offers benefits such as storage of data in the cloud for both private and public transportation agencies permitting them to access the data in real-time. TripSpark Fixed Route and Paratransit software is cloud-based transportation software that helps transit agencies in planning creating schedules, optimal routes, and tracking employees and vehicles over a CAD/AVL system. Likewise, Turnit Ride is a cloud-based ticket reservation system created explicitly for passenger transportation players that need complex logistics management, dynamic pricing, and fast market response.
North America is the global leader in the public transportation software market owing to the early adoption of the latest technology and rising investments by the government within the transportation industry. The presence of transportation management system vendors and technologically advanced countries like the U.S. and Canada are expected to grow at the highest rate in the forecasted period.
Europe is the Second Largest Region with Significant Market Share. Europe stood second largest in the public transportation software market owing to reason for this is to prevent traffic and to control the CO2 emissions from private vehicles. Another major reason is the rapid investments in the growth of the public transports. The involving Europe facility is working with the EU for the expansion of the European transport infrastructure. It has a total budget of $ 26.8 Bn. APAC is expected to grow at the Highest Rate in the Forecasted Period. APAC is expected to grow at the largest CAGR of 7.11% during the forecast period. The growing population in the APAC with the development in the public transport facilities coupled with the growth of the cities are the primary reasons. The industry in the area stands to gain as a result of many government measures aimed at improving public transportation. Smart cities are being built in countries like India and China, which will increase demand for public transportation software. The objective of the report is to present a comprehensive analysis of the Public Transportation Software Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help understand the Public Transportation Software Market dynamic and structure by analyzing the market segments and projecting the Public Transportation Software Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Public Transportation Software Market make the report investor’s guide.
|Global Public Transportation Software Market|
|Base Year:||2021||Forecast Period:||2022-2030|
|Historical Data:||2017 to 2021||Market Size in 2020:||US$ 880.12 Mn.|
|Forecast Period 2021 to 2027 CAGR:||6.37 %||Market Size in 2027:||US$ 1356.23 Mn.|
|Segments Covered:||by Product||• Cloud-Based • Web-Based|
|by Application||• Large Enterprises • SMEs|
Public Transportation Software Market, by Region
- North America • Europe • Asia Pacific • Latin America • The Middle East and Africa
Public Transportation Software Market Key Players
- GIS Routing • HASTUS • Routefinder Pro • Optibu • Ecolane DRT • Remix • Trapeze ViewPoint • EZTransport • eXpressTransit • JustRide • Trapeze • RouteMatch • Moovit • TripMaster • Bestmile • Optibus • RidePort