Cabs and buses are made over to fit modern consumer tastes
Implications - Despite being regulated by the government, public transport can still benefit from overhauls that fit current consumer demands. Tech-savvy, distracted and rushed commuters require taxis and buses that alleviate daily stresses, while luxury versions of public transit can secure wealthier clientele who would otherwise drive their own vehicles. Thus, upgrading these public services ensures their continued use, which also promotes a healthier environment and a decrease in urban congestion.
Trend Themes
1. Luxury Public Transit - The demand for luxurious upgrades in public transit has increased to cater to wealthy clients who would otherwise drive their own vehicles.
2. Eco-friendly Transit - Increased demand for eco-friendly public transit options is driving advancements in electric-powered and solar-powered transportation.
3. Mobile Payment Systems - New approaches to payment systems in the transportation industry, such as mobile payments, are becoming increasingly common and replacing traditional payment methods.
Industry Implications
1. Automotive - The automotive industry is being influenced by the desire for greener transportation, increased demands for luxurious upgrades, and the development of mobile payment systems.
2. Public Transportation - The public transportation industry is being transformed by eco-friendly upgrades, luxury redesigns, and new mobile payment options for commuters.
3. Technology - The transportation industry is transforming alongside expanded use of mobile payment systems, technological advancements in electric-powered vehicles, and solar energy-based transportation.
