At 14.2% CAGR, the North America Smart Commute Market is projected to be worth US$ 33,380.90 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the North America smart commute market was valued at US$ 13,170.74 million in 2021 and is expected to reach US$ 33,380.90 million by 2028, registering an annual growth rate of 14.2% from 2021 to 2028. The increasing demand for carpool and bike pool services and rising smart commute programs are the critical factors attributed to the market expansion.

The key element driving the expansion of smart commutes is a rapid increase in the adoption of carpool and bike pool services among regular office commuters. Prominent market players such as Uber and Ola offer convenient pick-up and drop-off services, attracting consumers to use ride-sharing services. Furthermore, services such as short-distance travel, intercity ride-sharing, bus-sharing, bike-sharing, and auto-sharing are available, which stimulates the expansion of smart commute demand. Moreover, organizations are rewarding top carpoolers to keep employees engaged and motivated to reduce carbon emissions and traffic jams across cities. New York is among the top 10 cities with the highest carbon footprint. Governments and businesses are encouraging carpooling to commute in cities to reduce emissions.  Carpooling and bike pooling services offer advantages such as affordable pick-up and drop-off, co-passenger information, affordable rides, and greater convenience than traditional transportation services. In addition, several service providers offer incentives and discounts, such as a monthly pass on a shared transport to help daily commuters save money. As a result, the rise in demand for carpool and bike pool services is propelling the smart commute market.

On the contrary, dynamic pricing and accessibility concerns hurdles the growth of North America smart commute market.

Based on type, the North America smart commute market is segmented into carpooling, vanpooling, bike pooling, metro, and others. The carpooling segment held 40.9% market share in 2021, amassing US$ 5,390.84 million. It is projected to garner US$ 15,161.94 million by 2028 to expand at 15.9% CAGR during 2021–2028.

Based on solution, the North America smart commute market is categorized into mobile apps, parking management, traffic management, and others. With 75.4% share the mobile apps segment dominated the market in 2021. It accrued US$ 9,926.37 million in 2021 and is estimated to generate US$ 26,041.11 million by 2028 to grow at a CAGR of 14.8% over the forecast period.

Based on end user, the North America smart commute market is bifurcated into personal and enterprises. The enterprises segment held 61.5% market share in 2021, amassing US$ 8,097.04 million. It is projected to garner US$ 21,262.61 million by 2028 to expand at 14.8% CAGR during 2021–2028.

Based on country, the North America smart commute market is fragmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 61.3% market share in 2021. It was assessed at US$ 8,074.42 million in 2021 and is likely to hit US$ 21,397.16 million by 2028, exhibiting a CAGR of 14.9% during the forecast period.

Key players dominating the North America smart commute market are BlaBlaCar, CommuteSmart, Enterprise Holdings Inc, Golden Concord Holdings Limited.,Oakland Smart Commute, Smart Commute, and Uber Technologies Inc among others.

• In 2018, Make My Trip Count is a regional transportation study of 18,104 commuters in the Greater Pittsburgh Area, aiming to learn more about how people go to work in the Pittsburgh area. The poll collected data on Pittsburgh commuters' beliefs and habits between September 10, 2018, and November 9, 2018. It investigated the modalities and challenges that commuters experience while utilizing personal automobiles, bikes and bike shares, public transportation, ridesharing services, electric vehicles, and other forms of transportation.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com