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(USGovernment-News.Com, December 18, 2018 ) The Global Transit And Ground Passenger Transportation Market, a part of the transportation services industry, grew at a compound annual growth rate (CAGR) of around 3% during the historic period. The transportation services industry showed a steady growth. This market has registered slight growth rate in the historic period due to rapid urbanization and rise in disposable income in countries such as India and China and increased investments in metro systems globally.
In the forecast period, the global transit and ground passenger transportation market size is expected to be over $600 billion by 2021, growing at a CAGR of nearly 6%. This is expected due to government investments in urban transit systems and interurban and rural bus transportation systems, strategic partnerships of private transit service providers with government, lower fuel prices, strong economic growth in countries such as China and India during the forecast period. Furthermore, rising population, increase in dispensable income, and increasing per capita incomes are expected to drive the global transit and ground passenger transportation market in the future.
In Transit entertainment services are increasingly being offered by public transportation companies to enhance passenger ride experience. Most common in transit entertainment services include Wi-Fi and video on demand services which are either offered for free or offered at affordable rates. In transit-entertainment amenities add value to customers’ overall travel experience.
Major companies in the transit and ground passenger transportation market, offering new technology include Metropolitan Transportation Authority, Transport For London, MTR Corporation, Guangzhou Metro, Madrid Metro, Washington Metropoliton Transit Aithority, Seoul Subway, The Masachussets Bay Transit Authority, Chicago Transit Authority, Bay Area Rapid Transit.
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