Transit-oriented development has been gaining recognition as an instrument to bring about sustainable development throughout the world. To alleviate the reliance on vehicles, it is necessary to manage local and regional urban growth, reinstate facilities and communities and make use of the land with stable transport. Transit-oriented development aims to carry out these objectives by developing efficient and pedestrian-friendly zones across the main public transport stations. The development aims to bring transit-oriented changes to a maximum scale in accordance with the conditions of the impact it will be able to have on municipalities, the populations, and personal lives. Transit-oriented development is increasingly becoming a popular tool that allows cities to build more habitable neighborhoods and minimize the urban stretch, which has multiple negative economic, cultural, environmental, and social implications. In addition, transit-oriented development implies sustainable urban development, environmentally friendly communities, and transit modes in a comprehensive approach. Furthermore, transit-oriented development is helping municipalities redefine and reorganize themselves.
COVID-19 Scenario Analysis:
- Since the unstoppable spread of COVID-19 in almost 180+ countries around the globe with the World Health Organization declaring it as a public health emergency has led to the downfall of the global economy. The impacts of the coronavirus disease have already started to be felt and are expected to significantly affect the Transit Oriented Development Market.
- The government initiatives to develop smart cities with transit facilities and improve the livelihood of the people in urban and metropolitan cities, and the concerns related to the protection of the environment during the pandemic situation have led to the growth of the market. For example, eco-friendly public transport by the people in various countries. However, the market has seen a significant decline in growth due to the imposed lockdown and stringent policies to follow social distancing norms.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The development of accessible and permeable urban areas that are designed by keeping in mind pedestrians' convenience, reduction of car use, and development of pollution-free or eco-friendly public transports are the factors driving the growth of the Transit Oriented Development Market. In addition, it offers easy access to public transport for a large number of people which is propelling the growth of the market. However, the high cost incurred in developing the service and lack of proper infrastructure is the factors hampering market growth. Furthermore, the development of smart cities and increased government spending to improve the mobility of transit vehicles are expected to provide lucrative opportunities.
The Trends for Transit Oriented Development Market:
Technological Advancements to Drive the Growth of the Market:
The adoption of latest technologies in the transit sector may rejuvenate the market during the forecasted period. The companies look for developing the infrastructure to enhance the mobility of citizens. The concept of smart cities is also one of the major reasons for the growth of the Transit Oriented Development Market. Enhancing urban mobility is the most pressing need in the citizen engagement exercises performed in many cities. Using technological advancements as an opportunity, these cities are now looking forward to create liveable ecosystems with improved quality of life by enhancing the urban mobility situation.
Asia-Pacific Region to Observe Significant Growth:
Asia-Pacific region is expected to observe significant growth during the forecasted period owing to the technological advancements and high focus on smart growth techniques to achieve economic growth of countries in the region. The governments of various countries such as India, China, South Korea, and others in the region are attempting to develop a high-quality marketplace by area regeneration and redevelopment of industrial walkways with businesses and shops.
Key Benefits of the Report:
- This study presents an analytical depiction of the Transit Oriented Development Market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the Transit Oriented Development Market.
- The report provides a detailed market analysis based on the present and future competitive intensity of the Transit Oriented Development Market.
Questions Answered in the Transit Oriented Development Market Research Report:
- Who are the leading market players active in the Transit Oriented Development Market?
- What would be the detailed impact of COVID-19 on the Transit Oriented Development Market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the Transit Oriented Development Market?
- What are the projections for the future that would help in taking further strategic steps?
Transit Oriented Development Market Report Highlights
| Aspects | Details |
 By Component |
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 By Services |
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 By City |
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 By Enterprise Size |
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 By Application |
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 By Region |
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 Key Market Players | ABB Ltd., Emerson Electric Co., Johnson Controls International PLC, Lockheed Martin Corporation, Mitsubishi Heavy Industries Ltd., Siemens AG, General Electric Company, Honeywell International Inc., BAE Systems PLC, Schneider Electric SE |
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