Global Smart Commute Market Research Report, by Type (Carpooling, Van Pooling, Bike Pooling, Bicycle Pooling, Metro, Others), Solution (Mobile App, Smart Ticketing, Parking Management, Traffic Management, Others) - Forecast till 2027
Market Highlights
The gridlock jamming traffic is making the daily commute almost unbearable, therefore, smart commute is becoming increasingly important options in most of the regions across the world. Multiple industries are actively integrating technologically-advanced systems such as vehicle access and reservation systems into their vehicles. The reservation system enable the users to freeze their vehicles as per their requirement.
Furthermore, Companies have started adopting real-time carpooling service through smartphones and automated ridematching technology to acquire higher subscriber base. Currently, majority of North American carpooling and vanpooling services use online Websites and mobile apps as their chief technology medium. Most of them depend on a ridesharing software platform purchased from a private company. For instance, the Canadian ride-sharing company, Kangaride who has been providing a platform for posting and booking long-distance rides throughout North America since 2006.
Smart commute market is expected to grow from USD 26.52 billion in 2020 to USD 104.22 billion by 2027, at a compound annual growth rate (CAGR) of 25.62% during the forecast period.
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Key players
The prominent players in the smart commute market are Siemens AG (Germany), Schneider Electric SA (France), Johnson Controls International PLC (US), Honeywell International Inc. (US), ABB Ltd. (Switzerland), Cisco Systems, Inc. (US), United Technologies Corporation (US), Lutron Electronics Co. Inc. (US), Crestron Electronics, Inc. (US), Philips Lighting Holding B.V (Netherlands) among others.
Regional Analysis
The global market for smart commute is estimated to grow at a significant rate during the forecast period. The geographical analysis of smart commute market is done across North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to be the fastest growing region owing to stringent government regulations and norms associated with the emissions of greenhouse gases. Furthermore, with automobile manufacturers announcing plans to adopt car sharing services is expected to boost the shared mobility ecosystem within the region. In december 2017, Volkswagen announced that it would offer zero-emission car sharing services in coming years majorly in Europe, North America and Asia.
Europe followed by North America is expected to hold largest revenue share in the coming years. In US, the market is projected to grow as the government has introduced incentives to promote the use of carpooling services in this country.
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Market Analysis The global smart commute market is predicted to touch USD 104.22 billion and at a whopping 25.52% CAGR between 2020- 2027, states the recent Market Research Future (MRFR) analysis.
Smart commute, simply put, is traveling from a particular place to another regularly through metro, bicycle pooling, bike pooling, vanpooling, and others.
Traffic management, parking management, smart ticketing, mobile app, and others are different solutions.
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.
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).
The report covers an overview of the industry along with a detailed explanation that provides a lot of insight.
The report also analyzes the production as well as management technology in various end-user industries.
The report provides insights into the strategies used by the key players in order to gain a strong base in the Smart Process Application Market.The major players covered in Smart Process Application Markets: OpenText,SAP,Kofax,Appian,Lexmark International,EMC CorporationThe final report will add the analysis of the Impact of Covid-19 in this report Smart Process Application industry.Get a Sample Copy @ https://www.reportsandmarkets.com/sample-request/global-smart-process-application-market-4326256?utm_source=techsite_medium=60Drivers and RisksThe report pays special attention to factors which contribute to the Smart Process Application Market growth also known as market drivers.
Any changes in these market dynamics directly affect the market growth hence the report provides a future insight into important factors that should be monitored and which could be leveraged by companies, vendors, distributors and all stakeholders alike to their advantage.
The report also provides an insight into the challenges faced by the market and the strategies used by existing players to overcome or avoid these risks.Regional overviewAs already mentioned, the report covers different regions such as North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa.
It is important to understand where the Smart Process Application market has been, currently is and where it is projected to go so that an accurate picture of the future may be painted.
Smart Speakers Market:WiseGuyReports.com adds “Global Smart Speakers Market Research Report 2020 Analysis and Forecast 2026” reports to its database.Executive SummaryThe global smart speakers market is expected to grow from $5.5 billion in 2019 and to $5.7 billion in 2020 at a growth rate of 3%.
The market is then expected to grow and reach $11 billion in 2023 at CAGR of 24.5%.The smart speakers market consists of sales of smart speakers and related products that include Bluetooth-, Wi-Fi-enabled and wireless devices which are integrated with virtual assistant device powered by artificial intelligence.
The smart speakers market consists of revenue generated through the sales of speakers with virtual assistant intelligence such as Alexa, Google Assistant, Siri, and Cortana, among others which are distributed through online or offline channels to personal and commercial users for smart home, smart office, automotive, commercial and more applications.
The companies involved in the smart speakers market are engaged in designing, manufacturing, producing artificial intelligence assisted speakers which are activated with one 'hot word' using voice recognition systems to perform wide range of wireless activities.Request Free Sample Report @ https://www.wiseguyreports.com/sample-request/5320574-smart-speakers-global-market-report-2020-30-covidNorth America was the largest region in the smart speakers market in 2019.
These devices have access to the personal information stored in Gmail like contact details, bank details, login credentials which raise security issues.
In 2019, a survey conducted in US states that smart speaker non-users are more concerned about data and privacy reasons like hacking risk (63%), smart speakers are always listening (55%) and monitoring by government (40%) when compared with 2017 which were 41%, 36% and 34% respectively.
