Smart Transportation Market – Overview

Transportation is a developing sector currently both in terms of volume and also the level of application of cutting edge technology. Market Research Future which concentrates on market reports related to the healthcare sector amongst others lately published a report on this industry. The market for smart transportation is estimated to develop to USD 273 Billion by 2022 while growing at a 24% of CAGR in the forecast period.

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Global Smart Transportation Market - Segmentation

  • Segmentation by solution: traffic management solution, smart ticketing solution, parking management solution, integrated supervision solution, passenger information solution, insurance telematics solution, and others.
  • Segmentation by services: consulting services, deployment and integration, and support & maintenance.
  • Segmentation by region: North America, Europe, Asia-Pacific and rest of the world.

Global Smart Transportation Market - Regional Analysis

Transportation sector has been widely impacted by rapid advancement in artificial intelligence, and self-driving technologies. Smart Transportation Market Size is highly developed in Europe and the major factor contributing to the growth of this market is Europe being the hub of automotive manufacturing. Additionally, the smart transportation technology is backed up by European Union road safety initiatives. The union is working towards building Horizon 2020, an environment-friendly, efficient, and safer commute system. Germany, France, and the UK are among the leading countries that contributing to the growth of smart transportation market. Growth in autonomous vehicles, and self-driving vehicles is also attributing to the need for smart and safe transportation system.

On the other hand, North America is the second leading region in terms of revenue generation. North American countries such as the US, and Canada are already matured in terms of adopting smart transportation system. There is an integration of smart roads, and highways with intelligent transportation system. the government of the US and Canada are strict in implementing regulations. Among all the regions, Asia-Pacific is expected to grow with a highest CAGR. Japan and China have already started deploying autonomous vehicles for public transportation and subsequently a smarter transportation infrastructure.

Key Players:

The prominent players in the Smart Transportation Market are - Cisco Systems, Inc. (U.S.), General Electric Company (U.S.), Alstom SA (France), Cubic Corporation (U.S.), Kapsch (Austria), IBM Corporation (U.S.), Thales Group (France), Siemens AG (Germany), AECOM (U.S.), Accenture Plc (Ireland), LG CNS Co. Ltd. (Korea), TomTom International B.V. (Netherlands) among others.

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Intended Audience

  • Public transportation authorities
  • Networking and Communication Service Providers (CSPs)
  • Cloud service providers
  • Smart cities stakeholders
  • Investors and consultants
  • System Integrators
  • Government Organizations
  • Research/Consultancy firms
  • Technology solution providers
  • Transport agencies