Fairwood Groups, Metrino PRT, skyTran, Vectus Ltd., 2getthere, Waymo, Mercedes, General Motors, Ultra Global PRT, Boeing, MILLA POD, Navya, Easymile, Baidu / King Long, Local Motors, Aurrigo, Westfield, Kamaz, and Next are key industry players in Personal Rapid Transit Market share.
Brooklyn, New York, March 05, 2021 (GLOBE NEWSWIRE) -- According to a new market research report published by Global Market Estimates, the Personal Rapid Transit Market will grow with a high CAGR value during the forecast period [2021 to 2026].
Personal rapid transit or pod cars are public transportation modes consisting of automated guideway transit systems. These are personal traveling modes for people traveling from one point to another on a predefined route. These vehicles can carry around two to six persons and travel at a 45 km/hr speed. The routes are defined in network topology and all stations are located on sidings along with recurrent diverge points. Point to point travel, lesser stoppage, and economical running cost are three key attributing factors driving personal rapid transit deployment in various countries.
The U.S., England, UAE, and South Korea have already deployed the pod cars in their transportation infrastructure. UAE has also made it official by announcing to replace around 25% of the traveling traffic with pod cars by 2030. Airports, IT campuses, and large area hospitals are major places that need these transportation types.
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Smart cities need smart traveling modes
Increasing investment in smart cities has influenced the demand for intelligent traffic solutions which can be connected on the cloud or web. Higher efficiency and better productivity are key propelling factors driving the pod taxi demand. Challenges such as long traveling time, carbon emission, and congestion have urged the demand for sustainable transportation solutions. Also, the Covid19 pandemic has rapidly changed the behavior of industries and consumers. One major aspect is social distancing which is influencing demand for private transportation.
Airports and Hospitals will witness large deployment
Airports and hospitals are among the major applications in the personal rapid transit industry. Rising demand for automated pre-defined routes in these sectors to simplify the migration will induce the demand. Other factors such as heavy public rush in these areas along with the necessity to maintain distance will propel the industry growth.
Asia Pacific witnessing the highest growth
Asia Pacific will witness the highest growth during the forecast period. Countries with large populations such as China and India will be the key contributor in deploying the PRT in their transportation infrastructure. Increasing urbanization and the necessity to streamline the traffic will stimulate regional industry growth. Delhi, Gurgaon, and Bangalore are the major prospects in the Indian PRT market. Large IT campuses at a wider space are inducing demand in these metro cities.
Technology advancement and product development are key strategies
Metrino PRT, Fairwood Groups, skyTran, 2getthere, Vectus Ltd., Waymo, General Motors, Mercedes, Ultra Global PRT, MILLA POD, Boeing, Navya, Easymile, Local Motors, Aurrigo, Baidu / King Long, Kamaz, Next, and Westfield are major contributors in the market. Product development and technology advancement to make the vehicles safe are key strategies witnessed in the industry.
Switching Outlook (Revenue, USD Million, 2019-2026)
Technology Outlook (Revenue, USD Million, 2019-2026)
Application Outlook (Revenue, USD Million, 2019-2026)
Business & Industrial Parks
Theme Parks & Resorts
Large Hospital Areas
Regional Outlook (Revenue, USD Million, 2019-2026)
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of the Middle East & Africa
Website: Global Market Estimates
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