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(USGovernment-News.Com, August 01, 2018 ) Transportation is a process of moving people or things from one place to another for an amount or fee. Transportation services include air, rail, road, water and pipeline transportation of both goods and people.
The reason for substantial growth of the market from $5.9 trillion in 2017 to $7.2 trillion by 2021 is technology, which is expected to be a continued driver of market growth. Areas of particular development are likely to be transport, wearable technologies, robotics, and networking. Sectors such as this one will benefit from the greater efficiencies offered by these technologies.
The market in the report is segmented into: general transportation, truck transportation, air transportation, rail transportation, transit and ground passenger transportation, warehousing and storage, water transportation and pipeline transportation. General transportation was the largest segment in the transportation services market accounting for more than one-fourth of the market share.
The USA was the largest country in the transportation services market in 2017, accounting for one-fifth of the market share. This is mainly due to the presence of an extensive transportation network, high disposable income and a large customer base which includes both B2B and B2C customers. The USA was followed by China and Japan as the next largest countries in the market.
The top five competitors in the market are China Railway Corporation, Russian Railways, Indian Railways, Deutsche Bahn AG, and Union Pacific Railroad. China Railway Corporation was the largest company in the transportation services market in 2017 with 2.32% market share. China Railway Corporation provides railway passenger and freight transport services, railway network construction services. The company is headquartered in Beijing, China.
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