Global 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 Software Market Overview:
The Global Public Transportation Software Market People who live in places where private transportation is either too expensive or too time consuming must rely on public transit to improve their quality of life. Trains, taxis, and buses are among the many public transit options available. Transportation agencies benefit from public transportation software that provides logistical support as well as fleet and passenger management. Fleet management software is similar to business software. However, public transportation software has elements that are beneficial to passengers.
Historical & Forecast Period:
Maximize Market Research report presents the analysis of each segment from 2021 to 2027 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2020to 2027.
Public Transportation Software Market Overview and Dynamics:
The report covers comprehensive data on market drivers, restraints, emerging trends, and growth opportunities that can change the market dynamics of the end use industry. It provides an in-depth analysis of the Public Transportation Software Market segments which include products, applications, and competitor analysis.
Governments all across the world are competing to enhance the transportation business. As governments use public transportation software to expand the services available to the public, the developing trend of smart cities will create a favourable environment for the market for public transportation software. Poor traffic management, overcrowding, insufficient public transportation capacity, and safety concerns plague many countries.
The increasing number of vehicles, expansion, and growing usage of IoT (internet of things) are expected to create numerous potential prospects for the worldwide public transportation software industry. On the other hand, the global public transportation aftermarket is likely to face various obstacles, which will stymie the expansion of the public transportation software market.
The market is forecasted from 2021 to 2027 using 2020 as a base year. The market size for 2020 is based on actual figures and outputs from key companies and big players around the world. When predicting the market until 2027, the previous five years' patterns are taken into account. 2020 is a year of exception, with the impact of lockdown by region being studied in particular.
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Segmentation:
In 2020, the big enterprises segment had the largest market share of 62.70 percent, and it is expected to increase at a CAGR of percent from 2020 to 2027. Transportation management systems combine elements such as carrier tracking, route optimization, analytics, account settlement, and order management into a single centralised system. Large corporations will now invest extensively in modern technology in order to increase their overall productivity and efficiency. Large firms' demand for scalable, adaptable, and convenient services is expected to spur companies to develop creative solutions and new technology.
The cloud segment dominated the market in 2020, with a market value of US$ Mn, and is expected to grow at a CAGR of 7.25 percent to reach US$ Mn by 2027. The cloud-based system provides advantages such as data storage in the cloud for both private and public transportation agencies, as well as real-time data access. TripSpark Fixed Route and Paratransit software is cloud-based transportation software that assists transit agencies in planning, scheduling, and routing staff and vehicles using a CAD/AVL system. Similarly, Turnit Ride is a cloud-based ticket reservation system designed specifically for passenger transportation companies that require complicated logistics, dynamic pricing, and quick market reaction.
Key Players:
• GIS Routing
• HASTUS
• Routefinder Pro
• Optibu
• Ecolane DRT
• Remix
• Trapeze ViewPoint
• EZTransport
• eXpressTransit
• JustRide
• Trapeze
• RouteMatch
• Moovit
• TripMaster
• Bestmile
• Optibus
• RidePort
Regional Analysis:
Regional analysis is another highly comprehensive part of the research and analysis study of the Public Transportation Software Market presented in the MMR report. Local development plans are often affected by the performance of Public Transportation Software market. Our report briefly explains all the factors, market size, growth rate, import and export in regions covering North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. This research has provided market trends, key opportunities, factors affecting of particular regions, to examine the global and domestic Public Transportation Software market and these findings have been strategically presented in the report.
Competition Landscape:
Most of the key players present in the Public Transportation Software Market are focusing on mergers and acquisitions to expand their geographic presence and gain a competitive edge. Meanwhile, some of the other players are updating their existing product portfolios and adding innovative screens to keep up with the high consumer demand and generate more sales.
Key questions answered in Public Transportation Software Market report
- What was the market size of Public Transportation Software Market in 2020 and forecast up to 2027?
- Which is the largest regional Public Transportation Software Market?
- What are the major trends followed in Public Transportation Software Market across different regions?
- Who is the key Public Transportation Software Market companies leading the market?
- What are the key strategies adopted by the leading Public Transportation Software Market companies in market?
- Unique data points of this report
- Statistics on Public Transportation Software Market penetration and spending worldwide
- Recent trends across different regions in terms of adoption of Public Transportation Software Market for various end-use.
- Notable developments going on in Public Transportation Software Market
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2020 (actual) and 2027 (forecast)
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