For a long time, public transport has been an important component of the global urban, peri-urban, and rural areas. The market for public transport encompasses a variety of travel modes, including buses, rail, trams, subways, and various shared transport services like ride sharing, car sharing, and bicycle sharing. At the same time, governments and corporations are attempting to entrench public transport and mobility concepts globally by advocating for massive developmental projects, most of which are related to addressing current urban and environmental concerns.
The global public transportation & mobility services size stands at around $850 billion in the year 2024 and is anticipated to register a 7.5% CAGR in the forecast period between 2024 and 2030. Rapid urbanization, infrastructural development from the government, increased use of smart means of transport, and an increase in eco-friendly modes of transport are the key factors that are acting as a stimulus to this growth.
For a long time, public transport has been an important component of the global urban, peri-urban, and rural areas. The market for public transport encompasses a variety of travel modes, including buses, rail, trams, subways, and various shared transport services like ride sharing, car sharing, and bicycle sharing. At the same time, governments and corporations are attempting to entrench public transport and mobility concepts globally by advocating for massive developmental projects, most of which are related to addressing current urban and environmental concerns.
The global public transportation & mobility services size stands at around $850 billion in the year 2024 and is anticipated to register a 7.5% CAGR in the forecast period between 2024 and 2030. Rapid urbanization, infrastructural development from the government, increased use of smart means of transport, and an increase in eco-friendly modes of transport are the key factors that are acting as a stimulus to this growth.
Public transportation and mobility services can be thought of as a system of services and facilities that allows the transport of people within cities and surrounding areas quickly, comfortably, and without great expense. This covers both the traditional setups of public transport and the newer alternatives, for instance, subtraction, addition, deconstruction, reconstruction, and even combination of these particular models.
1.Public Transport:
Motor Buses
Urban Railways (Commuter Rail, Light Rail Transit, and Trams)
2. Transport services facilitate car sharing:
Limo services (e.g., Uber, Bolt)
Vanpooling
Pohodka car-sharing model (for example, Bixicar, Turo)
3. Micromobility solutions:
bike saving (e.g., city bikes)
E-scooter tractor bicycles
E bicycles
4. Special Services:
Service for non-ambulatory and ambulatory persons with disabilities
Mobile passenger ·services in locations
5. New Technological Inventions:
Robot-controlled buses and shuttles
Flying taxis
1. Sustainable Development:
• Change from petrol-powered vehicles to electric vehicles or hydrogen vehicles.
• Implementation of low-emissions traffic areas in cities
2. Use of advanced technology:
• Non-touch purchases, sales, and monitoring
• We are using big data to regulate traffic and enhance services.
3. An increase in population and the development of cities:
• Increase the use of metros and light rail, particularly in megacities.
4. Smart city movements.
• Usage of self-driving cars for public transportation is on the rise.
5. Cost-effective transport:
• Many countries have a policy of subsidizing prices as a way of achieving equality.
Green Buses: In the year 2023, over 35 percent of the buses that were sold worldwide were electric. That shows the decarbonization of transit is developing in full force.
Artificial Intelligence: Tasks such as equipment predictive maintenance and route efficiency enhancement are increasingly utilizing AI.
Mobility as a Service: More and more people are adopting a single application that offers several modes of transportation.
Self-Controlled Vehicles: Brownian Instances Dubai City and Singapore City have put forward driverless buses and taxis, respectively, for experimentation.
Government Investments: More than adequate government expenditures on sustainable, energy-powered transportation systems promote their rapid growth in the market.
Rebound in Public Transport: Vis-a-vis health and safety modifications, there has been a rebound in the use of public transportation systems after the COVID-19 pandemic.
1. By Transport Means:
Land Options: (buses, cars, scooters)
Rail Options: Trains, Subway, and Trams
Water Transport Option: (ferries, water taxis)
Air Division: (Urban Air Mobility, eVTOLs Aircraft)
2. By Type of Service Provided:
Types of Fixed Route Transits
Demand Responsive Services
stands for Mobility as a service.
3. As regards technology used:
Electric Transport
Driverless Car
IoT-based solutions
4. By region:
Iicide North American Region
Within the Europe Region
In the Asia-Pacific Region
South America Region
Africa and Middle East Region
1. Carrier Agencies:
MTA (Metropolitan Transport Authority), USA
TFL (Transport for London), UK
SMRT Corporation, S/A
2. Taxi and transport hailing companies:
Uber, Inc.
Lyft, Inc.
Didi: The King of Transit
3. Suppliers of Machine Systems:
Lime
Bird
Spin
4. Technology Firms:
Siemens Limited
Alstom India Limited
Cubic India
5. Vehicle Manufacturers:
BYD Ltd
Volvo (India) Private Ltd
Proterra Inc