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Latin America- the world’s most urbanized region homes to over 649 million people with 83% of the population living in urban areas.
The speed at which modern urbanization is scaling, it’s becoming difficult to plan at the same pace.When we take a trip to the Latin America’s transportation preferences, the amazing facts pops-up such as people increasingly rely on public transportation and subway system; the larger cities and metro areas are having vehicles above maximum capacity; the young generation has stopped favoring buying a car rather than preferring on-demand taxi app solutions; the mobile penetration is growing at a tremendous pace and 63% of the population accessing things via mobile technology; the recent corona outbreak we all know.The unexpected growth is putting challenges before traffic infrastructures and public transportation systems around metro cities and they are trying to play a catch up with the situation.
Poor road conditions, limited parking space, traffic congestion, and other things are frustrating drivers and commuters.However, the concerns raised due to urbanization are paving the way for digitization.
The sharp rise in ride-hailing apps, car-sharing apps, and bike-sharing apps are observed, that’s bringing gala changes to the traditional transportation landscape in reaching from point A to B.
Among all, the ride-sharing market in Latin America is the fastest-growing mobility business model, which is also the world’s second-largest market, that’s worth $925 million.
It’s because the platform is allowing the people to travel in a vehicle that’s driven by another person thereby reducing vehicles’ circulation, congestion, and gas emissions.
