The global transit-oriented development market can be segmented based on service, city, end-use application, and geography. In terms of service, the transit-oriented development market has been classified into consulting & planning, integration & implementation, and infrastructure monitoring & management. The consulting & planning segment is anticipated to expand at a maximum growth rate during the forecast period, as more and more number of cities are preferring to implement TOD. Based on city, the transit-oriented development market has been divided into metropolitan and rural. Based on end-use application, the transit-oriented development market has been segregated into smart utilities, smart transportation, smart public services, and smart buildings. The smart buildings segment is anticipated to hold the maximum market share during the forecast period.
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Based on geography, the global transit-oriented development market can be segmented into North America, South America, Asia Pacific, Europe, and Middle East & Africa. The transit-oriented development market in North America is anticipated to expand at a substantial growth rate during the forecast period. This is attributable to technological advancements and high focus on smart growth techniques to achieve economic growth of countries in the region. For instance, Silver Spring, one of the oldest suburbs of Washington DC, has used transit-oriented development to redevelop the suburb. Asia Pacific is expected to be a lucrative market for transit-oriented development during the forecast period, as local governments in the region are trying to create high-quality place by area revitalization and redevelopment of commercial corridors with businesses and shops.
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Transit-Oriented Development Market – Key Players
Key players operating in the global transit-oriented development market are focused on providing solutions as per the requirements such as implementation of different technologies, upgrade of existing systems, and expansion of existing systems. Major players compete with other players based on parameters such as product price and product quality. The global transit-oriented development market is characterized by presence of several key players including General Electric Company, ABB, and Honeywell International Inc.