According to a new report published by Transparency Market Research, the demand-responsive transit (DRT) market will record significant growth owing to the rising demand in the construction industry across the globe. The report titled, “Demand-responsive Transit (DRT) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026,” anticipates that the global market will grow remarkably during the forecast period.
Demand-responsive transit (DRT) service is used for public transport in order to cater to the demand for transport in urban areas or a particular area. Generally, the Demand-responsive transit (DRT) service provides flexible and more cost-effective transport than conventional bus transport service. DRT service is a combination of traditional public transport service and privately operated taxi services. It is a user-friendly and user-oriented service, which can be characterized by flexible routes and small vehicles operating in shared ride according to passenger needs.
Sustainability can be increased by using an appropriate sized vehicle according to requirements owing to the flexibility of DRT. DRT service can be used to minimize the demand-supply gap between traditional public transport service and the public. Moreover, accessibility in rural areas, cost-effective public transport, positive response from public, easy access of service, and increase in the number of mobility impaired people are likely to affect the demand of DRT directly during the forecast period. However, over flexibility, complex routing model and optimization and public transport companies with insufficient experience with lack of marketing strategies are some challenges for DRT service.
The report has segmented the global demand-responsive transit (DRT) market in terms of transport service, transit service type, booking type, and region. Based on transit service, the DRT market is segregated into bus and taxi. DRT service is usually served by buses. Demand for several application such as school busses, para-transit, medical trips and more is growing. Therefore, the bus segment expansion is likely to boost the market during the forecast period.
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