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Industry Profile

Industry Overview
 

Singapore is among the most densely populated countries in the world. Our demand for cost-efficient and reliable transportation continues to grow and evolve due to increasing space constraints.

Land transport is a critical industry that has potential to benefit millions of commuters daily. If your company is in this dynamic industry, you can potentially change the way we travel, not just in Singapore, but in thousands of cities around the world.

Building a reliable public transportation system is a pressing priority everywhere. For developing countries, it is a driver of growth, and for developed countries, there is always room to improve transport efficiency.

The Singapore land transport sector comprises 8,500 companies, and employs more than 120,000 workers. The industry contributed about 1.1% of Singapore’s GDP in 2016.

Guided by the Land Transport Industry Transformation Map, the industry aims to increase the use of public transport, improve the reliability of bus and rail services and shorten commuting time. The goal is to add up to 8,000 jobs to the industry by 2030.

Going forward, disruptive technology and changing demographics will shape the local land transport landscape, while growing urbanisation trends worldwide will require better land transport solutions. These will create new business opportunities for you.

Disruptive Technology
 

Disruptive technology, such as autonomous vehicles, big data and artificial intelligence, has transformative potential to improve land transport systems.

You can combine big data, real-time monitoring and mobile connectivity to further improve commuter experience, through better trip planning, service matching and cashless payments. You can also improve the way transport providers use big data, to supply dynamically routed, on-demand shuttles, and make rail and bus services more reliable.

Land-Transport_Disruptive technology

Driverless vehicles have great potential to change the way we travel and alter traffic patterns on the road. Your company can advance this technology, or come up with ways to deploy driverless vehicles in innovative ways.

Disruptive technology is also changing the way we build and maintain land transport infrastructure. Real time monitoring using smart sensors and data analytics makes it possible to detect potential faults and carry out predictive maintenance. The use of drones and robots to enter previously inaccessible work spaces have created safer work conditions for rail workers.

Your company can come up with smarter and safer ways to commute or work, using disruptive technology to improve your land transport business.

Changing Demographics
 

Singapore’s ageing population creates new demand and opportunities for land transport companies to cater to the needs of our elderly. By 2030, over 900,000 Singaporeans will be 65 years-old or older1. Singapore land transport companies can cater to senior commuters with more accessible and wheelchair-friendly public transport, driverless vehicles or other solutions to make commuting safer and more convenient for the elderly.

There are also opportunities for your company to offer land transport solutions that are more family-friendly for families with young children, or more disabled-friendly, with the aid of assistive technology.

Bigger Urban Populations
 

Today, about half of the world’s population lives in urban areas. By 2050, the proportion is expected to increase to 68%, with the growth concentrated in India, China and Nigeria2. Many cities need innovative solutions to manage their public transportation systems, build or upgrade rail networks and reduce road congestion. Your company can tap the growing demand to expand your services overseas.

2: 2018 Revision of World Urbanization Prospects, United Nations Department of Economic and Social Affairs, Population Division

Want to Find Out More?
 

Enterprise Singapore supports Singapore land transport companies to explore opportunities locally and abroad with a suite of tools and programmes.

Find out how you can boost your capability, go global and develop talent to transform your transport business.

 

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(Last updated on 18 December 2018 14:35:48)