The Worldwide Smart Commute Industry is Projected to Reach $85.5 Billion by 2028
DUBLIN, June 23, 2022 /PRNewswire/ -- The "Global Smart Commute Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type, Solution, and End User" report has been added to ResearchAndMarkets.com's offering.
The smart commute market was valued at US$ 30,469.49 million in 2021 and is projected to reach US$ 86,568.73 million by 2028; it is expected to grow at a CAGR of 16.1% from 2021 to 2028.
Moreover, organizations are rewarding top carpoolers to keep employees engaged and motivated to reduce carbon emissions and traffic jams across cities. New York, Seoul, and Shanghai are among the top 10 cities with the highest carbon footprint. Governments and businesses are encouraging carpooling to commute in cities to reduce emissions. Countries have established specific targets for reducing carbon footprints by 2030 as part of the Paris climate agreement. In Delhi, India, the government implemented an odd-even strategy to control traffic density and reduce carbon emissions in the city.
A bike, scooter, or two-wheeler can travel faster in the city than a car or four-wheeler. In the urban jungle, the fastest means of transportation is a two-wheeler. Using a bike pool makes commuting simple, quick, and convenient. Bike pooling is also less expensive than taking a taxi because the cost of petrol is shared. As a result, selecting to bike pool can help save money on tranportation while getting to the destination faster than driving other vehicles.
Metro is a ridesharing service provided in specified zones that uses vans and tiny automobiles. Metro bike share gives users access to a fleet of bikes 24x7 for local journeys and transit. For instance, The Metropolitan Transportation Authority (MTA) board has approved the fee structure and first service regions for the 3-year MicroTransit Pilot Project, a ride-hailing service that the MTA will run.
For the first six months, Metro Micro will offer on-demand shared-ride service for short excursions within approved service zones in Los Angeles County for US$ 1 per ride (transfer not included). It will provide the convenience of ride-share technology at a tenth of the cost, resulting in reduced traffic on the streets, healthier air, and a new approach to maximizing the use of transit systems.
4. Smart Commute Market Landscape
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