Public Transportation Market Is Likely To Up Demand At A USD 309.1 Billion By 2028
San Francisco, 18 Oct 2022: The Report Public Transportation Market Size, Share & Trends Analysis Report By Distribution Channel (Online, Offline), By Mode Type (Road, Rail), By Region, And Segment Forecasts, 2022 - 2028 The global public transportation market size is expected to reach USD 309.1 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.9% from 2022 to 2028. The market is driven by the economic growth in Asia Pacific and the Middle East and Africa and the increasing number of megacities in the region. According to the World Economic Forum data, by the year 2030, six cities will emerge as new megacities, including Dar es Salaam, Luanda, and Chennai, as the population keeps flocking to urban areas. Increasing government initiatives and the development of smart cities also facilitate the growth of public transportation. The market growth can be attributed to the increasing technological advancements such as ele