The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The rise in on-demand transportation services is likely to spur innovation in alternate transportation manufacturing, propelling the market during the forecast period.

The global alternate transportation market is expected to grow from $205.56 billion in 2022 to $233.82 billion in 2023 at a compound annual growth rate (CAGR) of 13.7%. The global alternate transportation market size is expected to reach $374.01 billion in 2027 at a CAGR of 12.5%.

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Global Alternate Transportation Market Segments Include:

• By Type: Road, Air, Vacuum Tubes Or Pneumatic Pressure Tube, Rail
• By Sharing: Sharing, Renting
• By Commute Type: Intracity, Intercity
• By Application: Personal Vehicle, Passenger Vehicle, Freight Or Carriage Vehicle
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Europe is the largest region in the global alternate transportation market in 2021.

Major Market Players in the alternate transportation market include AECOM Technology Corporation, AeroMobil s.r.o., Alternative Transportation Systems LLC, Carzonrent India Pvt Ltd., Delft Hyperloop, Lockheed Martin Corporation.

Technological improvement is a crucial trend that is gaining traction in the alternative transportation business. To maintain their market position, major corporations in the alternate transportation market are implementing new technology. For example, Earth Rides, a ride-sharing startup based in the United States, will introduce a new environmentally friendly ride-sharing service in September 2020. Drivers with Earth Rides have access to a personal app on the front end that allows them to easily track allotted trips. Passengers can book trips from their smartphones using a Spare Whitelabel rider app, and requests are immediately matched to available vehicles. To guarantee optimal efficiency, Earth uses Spare’s ride-on-ride feature, which allows it to assign trips to drivers based on prior routes.

The Alternate Transportation Global Market Report 2023  provides a alternate transportation market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The alternate transportation market forecast analyzes alternate transportation market size, alternate transportation market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Any mode of transportation other than the normal or principal mode of going from one place to another is referred to as alternate transportation. Walking, cycling, taking public transit, carpooling, or using ride-sharing services are all examples of choices. Alternative transportation networks connect neighbourhoods to parks, aid with traffic control, and reduce parking issues in overcrowded areas.

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