South America smart commute market report 2022: Increasing trend of mobility-as-a-service bodes well for sector

24/11/2022 News

The "South America Smart Commute Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Type, Solution, and End User Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Type, Solution, and End User" report has been added to  ResearchAndMarkets.com's offering.

The smart commute market in South America is expected to grow from US$ 738.71 million in 2021 to US$ 1,030.17 million by 2028; it is estimated to grow at a CAGR of 4.9% from 2021 to 2028

Internet of Things (IoT) devices can be used to make daily commutes more enjoyable. Such technologies also help reduce overall transport costs while being environmentally beneficial. The best IoT option for the last-mile journey could be connected bicycles. Citizens have begun to benefit from combined bike-sharing possibilities provided by several market players. Further, users can keep track of bike availability, usage, and trip details.

The only factor hampering the growth of linked bike-sharing programs is integrating them into the recent traffic. Governments of South American countries must ensure that designated bike lanes exist to maintain a smooth traffic flow. In a few areas, connected electric scooters are also available for rent. A few firms offer complimentary helmets to electric scooter riders for a minimal shipping fee. By providing alternate commute options, these businesses contribute to a better future.

Apps for taxi commuting are widespread among the youth. Rather than driving their cars, many commuters use taxi services such as Uber and Lyft. This is a more cost-effective and environmentally responsible solution than single-user rides. These businesses can access a wealth of data that may be monitored and studied to improve cab-sharing services. Unlike most public transit, they can function similarly to public transportation but provide a comprehensive commute option. Thus, the adoption of connected last-mile commute with IoT is anticipated to create significant growth opportunities in the smart commute market in the coming years. 

South America smart commute market segmentation

The South America smart commute market is segmented into type, solution, end user, and country.Based on type, the market is segmented into carpooling, vanpooling, bike pooling, metro, and others. In 2020, the carpooling segment held the largest market share. Based on solution, the market is categorized into mobile apps, parking management, traffic management, and others. In 2020, the mobile apps segment held the largest market share. Based on end user, the market is bifurcated into personal and enterprises. In 2020, the enterprises segment held the largest share South America smart commute market. Similarly, based on country, the market is segmented into Brazil, Argentina, and the Rest of South America. Further, Brazil contributed a substantial share in 2020. 

BlaBlaCar, Enterprise Holdings Inc, Golden Concord Holdings Limited., and Uber Technologies Inc are among the leading companies operating in the South America smart commute market.

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