Increasing demand for smart transport and smart cities, as well as traffic management systems, ticket management systems, security surveillance systems, and cloud services, are major contributing factors. In addition, government investments in the emerging notion of smart cities have a substantial impact on the Smart Transportation Market.
The aforementioned characteristics, when combined, create potential for smart transport industry growth; yet, constraints such as the need for costly capital investments and a large database of road network data pose smart transport market restraints. However, during the projected period, each element will have a particular impact on the smart transportation business.
Smart Transportation Market Overview:
The fundamental purpose of this research is to help the user understand the Smart Transportation Market in terms of definition, segmentation, market potential, significant trends, and the issues that the Smart Transportation industry faces in key areas and countries. Market figures and information were gathered from reliable sources such as websites, annual reports of businesses, journals, and so on, and were then checked and validated by industry professionals.
Smart Transportation Market Size was valued at USD 115.59 Billion in 2022, and is expected to reach USD 234.01 Billion by 2029, exhibiting a CAGR of 10.6% during the forecast period (2023-2029).
Scope of the Report
Market figures and information were gathered from reliable sources such as websites, annual reports of businesses, journals, and so on, and were then checked and validated by industry professionals.
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Smart Transportation Market Drivers:
Smart transportation employs information technology and artificial intelligence to better manage and coordinate transportation networks. The usage of a smart transport network allows travellers to have a better understanding of traffic for better coordination and driver safety.
Because a rise in the number of vehicles on the road produces traffic congestion, the sale of automobiles increases the demand for smart transportation. Furthermore, the growing desire for smart cities is a major factor driving the increase in demand for smart transportation.
Smart Transportation Market Segmentation:
by Transportation Mode
1. Roadways
2. Railways
3. Airways
4. Maritime
by Application
1. Shared mobility
2. Route information and route guidance
3. Transit hubs
4. Autonomous/driverless vehicles
5. Video management
6. Others
by Solution
1. Ticketing Management System
2. Parking Management & Guidance System
3. Integrated Supervision System
4. Traffic Management System
by Service 1. Business
2. Professional
3. Cloud Services
Key Players:
1. Thales
2. Huawei
3. Siemens
4. IBM
5. Cisco Systems
6. SAP
7. Cubic
8. ALSTOM
9. Bombardier
10. Toshiba
11. Harris
12. Saab
13. Veson Nautical
14. Advanced Navigation Positioning Corporation (ANPC)
15. BASS Software
16. BENTLEY SYSTEMS
17. Indra Sistemas
18. Trimble
19. TomTom
20. Amadeus
21. Conduent
22. Kapsch
23. Hitachi
24. The Descartes Systems
25. Accenture
26. Rockwell Collins
27. DNV GL
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Regional Analysis:
The report focuses on Regions and Market Size of Smart Transportation , and development forecast 2021-2027, including industries, major players, suppliers globally, and market share by regions, with company and product introduction, market position including market status and development trend by types and applications, which will provide its price and profit status, and marketing status, with 2020 as the base year.
COVID-19 Impact on the Smart Transportation Market
The report addresses the consequences of COVID-19: Since the COVID-19 virus emerged in December 2019, the sickness has spread to nearly every country on the earth, causing the World Health Organisation to designate it a public health catastrophe. The global impacts of the coronavirus outbreak are already being felt, and they will have a significant impact on the Smart Transportation sector in 2021.
Key Questions answered in the Smart Transportation Market Report are:
What is the function of Smart Transportation ?
What is the predicted revenue generation of the Smart Transportation market?
At what growth rate is the Smart Transportation market evolving?
Who are the major market giants operating in the Smart Transportation market?
Key offerings:
- A detailed Market Overview
- Market Share
- Market Size
- Market Forecast by Revenue
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation- A detailed analysis of each segment and their segments
- Competitive Landscape - Leading key players and other prominent key players.
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