The shifting focus of many raw material supplying firms to distribute their commodities through public transit to propel further growth in the Global Public Transportation Software Market
Covid-19 Impact & Market Status
The recent COVID-19 outbreak started in Wuhan (China) in December 2019 and has rapidly spread around the world since then. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the United States were among the countries with the highest number of positive cases and reported deaths. Due to lockdowns, travel bans, and company closures, the COVID-19 epidemic has impacted economies and businesses in a number of countries. As a result of the outbreak, the global food and beverage industry is one of the major businesses experiencing substantial disruptions such as supply chain disruptions, technology event cancellations, and office closures. With the presence of and the largest raw material suppliers, China is the global industrial powerhouse. The overall market breakdown due to COVID-19 is also affecting the growth of the bacon market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.
The corona pandemic is quite likely to have major consequences on the individual behavior and lifestyles, as well as the way people work, consume, and travel. On the one hand, public transportation and shared mobility services are vectors for the virus's spread. However, they are significantly harmed by travel restrictions and level of concern to prevent public assemblies, resulting in lower passenger and travel and transportation demand. The financial consequences of the global pandemic in the public transportation and shared mobility sectors are most certainly severe, despite the fact that it has yet to be fully analysed. Because public transportation is inextricably connected to economic development and thus reliant on fares and subsidies, revenue loss is almost certain. Aside from the income loss, greater expenditures for frequent cleaning of vehicles and infrastructure, as well as increased train frequency over a longer period of time, can add to public transportation firms' financial challenges.
This research report offers a detailed market outlook of the global public transportation software market depending upon the current economic situation and developments in the organization size, deployment, and regional segments.
It does a deep analysis of the impact of covid-19 on the market and recovery strategies applied by market players to restore the growth trends and maintain market competitiveness. The in-depth insights documented in the report enable well-informed investment decisions by for the new payers, aspirants, and also the well-established ones in the global public transportation software market.
Cloud based Public Transportation Software Deployment to Emerge as the Most Lucrative Segment
Global public transportation software market is classified into cloud based and on-premise deployment segments. Among these, the cloud-based deployment public transportation software is poised for substantial market growth in the years ahead. Cloud computing refers to data that is stored in the "clouds" and does not need a user to be physically there to access it. Because they are not obligated to possess their own servers and can use capacity rented from third parties, public transportation may use cloud computing to lower cost for information management. Furthermore, cloud-based architecture enables businesses to swiftly upgrade their software. Because the service provider provides the hardware and the software for the certain service, a cloud service can dynamically scale to match the needs of the users, and since there is no a need for the company to implement or execute its own resources or assign IT staff to manage the services, a cloud service can dynamically scale to meet the needs of its users. Online data storage is one example of a cloud service. Cloud Based accounted for the largest market share in 2020. The cloud-based application also provides advantages such as data storage in the cloud for both public and private transportation companies, as well as real-time data access.
Large Enterprises Organization Sizes to Ensure Revenue Maximization
Global public transportation software market is classified as Large Enterprises, and SMEs deployment organization sizes. Among these, the Large Enterprises deployment public transportation software organization size segment is poised for substantial market growth in the years ahead. Large enterprises are those which have better shares in the market and have established themselves to serve huge number of customers. Unlike small businesses, large enterprises often have veracious requirements and an expectation of large-scale deployments. Service-level agreements that ensure the quality of service and market credibility, pricing models that reflect large-scale engagements, and a higher level of customer support and professional services are all important criteria for enterprises when choosing a public transportation software service provider. The biggest pro of large enterprises is its extensible platform. The regions such as India, China, Japan, and South East Asia countries are emerging large enterprises numbers in the forecasted period is an added advantage. Moreover, mid-to-large enterprises are highly scalable with already established highly redundant network. As a result, significant players have earned the trust of clients and channel partners like value-added resellers and system integrators. The large market captures coupled with better potential to provide service and a trusted establishment has led the segmental market value over the years.
Backed by Immense Development Potential North America Public Transportation Software Market to Sail Ahead
Performance analysis of global public transportation software market based on regional segmentation states that North America is the most mature market for public transportation software adoption and investments. The region is likely to garner maximum revenue share of global public transportation software market in the years ahead, mostly from 2021 to 2028.
This is evident from rapid investments in new digital technologies, shift in user preferences, organization sizes in various industry verticals such as gaming, content creation, SMEs media, and conference across leading countries in the region such as Canada and United States.
Additionally, technological advancements due to various research and developments initiatives, the presence of tech giants, commercial mergers and partnerships, expansions of the leading companies in regional and global market are improving the growth feasibility of global public transportation software market in North America.
In North America, public transportation refers to publicly funded mass transit services throughout the continent. This comprises bus, train, ferry, and, on rare occasions, Aeroplan services. The majority of developed public transportation systems are in central, urban locations with sufficient density and public demand to necessitate public transportation. In more auto-centric suburban localities, public transit is normally, but not always, less frequent and less common. Based on the type of service, most public transport services in the United States are either regional/commuter, national, or local. Likewise, in North America, "public transportation" is sometimes used interchangeably with "alternative transportation," which refers to any mode of transportation other than driving one's own car. Most major regional airports are located on the outskirts of major cities and are publicly owned, whereas airline service is often owned by for-profit companies. Larger airports may have their own rail, bus, and monorail systems to connect terminals. Boston, Atlanta, Orlando, and the airport in Washington, D.C. are all examples of this. North America has been leading the public transportation software market due to early acceptance of new technologies and increasing government investments in the transportation industry.
Post pandemic period will pave new growth opportunities in the coming years, thus furthering the inclusion of Public Transportation Software
Consumer preferences are shifting towards carpooling, ride-sharing, train transportation, bus transportation, and air transportation, which are some of the reasons why public transportation is becoming more popular these days. Increased use of public transportation software is due to an increase in urban population and better and more accessible means for this population to get from one location to another. One of the main forces for the development in public transportation is the shifting focus of many raw material supplying firms to distribute their commodities through public transit.
The recent COVID-19 outbreak started in Wuhan (China) in December 2019 and has rapidly spread around the world since then. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the United States were among the countries with the highest number of positive cases and reported deaths. Due to lockdowns, travel bans, and company closures, the COVID-19 epidemic has impacted economies and businesses in a number of countries.
The rapid increase in the number of Transportation Services is one of the primary factors driving the growth of the public transportation software market. The growing demand from the general public for more efficient and improved transportation services is propelling the worldwide public transportation software market forward. With the rapid growth of the population, transit needs have increased as well, which bodes well for the market's growth. Furthermore, the need for public transportation software will be fuelled by government initiatives and enormous efforts around the world to improve transportation for the general people.
These are some key factors bringing thumping growth of global public transportation software market, ensuring market size growth of approximately 1,459.54 USD million by 2028 at a CAGR of 6.44% from 2021 to 2028.
Governments all across the world are competing to improve the transportation sector. As governments employ public transportation software to expand the services available to the public, the growing trend of smart cities will create a favourable environment for the public transportation software market. Several countries are dealing with challenges such as poor traffic management, safety problems, overcrowding, and insufficient public transportation capacity. The need for public transportation software will be driven by the general population. During the projected period, the worldwide public transportation software market is predicted to grow at a healthy rate. The need for public transportation software is predicted to skyrocket in the coming years, thanks to features like auditing, freight procurement, freight sourcing, dispatch management, and freight payment among others.
Consumer preferences are shifting towards carpooling, ride-sharing, train transportation, bus transportation, and air transportation, which are some of the reasons why public transportation is becoming more popular these days. Increased use of public transportation software is due to an increase in urban population and better and more accessible means for this population to get from one location to another. One of the main forces for the development in public transportation is the shifting focus of many raw material supplying firms to distribute their commodities through public transit. People's desire to use software has increased as the communication and information sector has grown, leading to an increase in the IoT and ecommerce businesses. Initiatives by the government to upgrade public transportation infrastructure in order to attract more users. Other factors for the slow growth of the public transportation software market include intelligent transportation solutions that save time and money, as well as increased awareness of public transportation across all industries.
The global public transit to aftermarket market is projected to face a number of hurdles, with the internet predicted to stymie the business's growth. The availability of Open-Source Solutions is one of the primary elements offering a challenge to the growth of the public transportation software market. The high cost of the software may also be a challenge and deter its adoption especially in cast sensitive areas of the world.
The most severe market limitation now affecting the public transportation software business is the global epidemic caused by COVID-19. The COVID-19 pandemic has spread at an unprecedented rate, infecting millions of people and halting economic activity as countries impose harsh travel restrictions to prevent the virus from spreading. The economic cost is already seen as the health and human toll rises, and it constitutes the world's largest economic shock in decades. Nevertheless, in the present period and conditions, the major part of global public transportation is facing downtime since the pandemic due to COVID-19 issue. But as there are number of measures been taken around the world to fight the pandemic, by social distancing, sanitizations, etc. and also the various vaccine inventions done. So, once this epidemic starts to decrease, which is believed to be taking place gradually in some parts of the regions, the public transportation will normalize. This will lead to huge opportunities for the public transportation software market to again thrive and observe a growing pattern for the market.
The major players of the global public transportation software market are Esri, Telenav, GIRO, Trapeze Software, Goal Systems S.L., Transfinder Corporation, Optibus Ltd., Pantonium Inc., Stillwater Express Solutions, AddTransit, and CTS Software.
Among all other established and emerging companies and investors. These market players are spread across the world and are aggressive in developing new technologies to lead the market and improve revenue growth. Furthermore, the market players to stay ahead of the competitive landscape are unravelling strategic initiatives like mergers and acquisitions, new product portfolios, and technological innovations.
Public Transportation Software Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||1,459.54 USD million|
|Growth Rate||CAGR of 6.44% during 2021-2028|
|Segment Covered||Deployment ,Organization Size, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Esri, Telenav, GIRO, Trapeze Software, Goal Systems S.L., Transfinder Corporation, Optibus Ltd., Pantonium Inc., Stillwater Express Solutions, AddTransit, and CTS Software.|
Key Segments of the Global Public Transportation Software Market
Deployment Overview, 2018-2028 (USD million)
- Cloud based
Organization Size Overview, 2018-2028 (USD million)
- Large Enterprises
Regional Overview, 2018-2028 (USD million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa