Market Scenario:
The use of information technology and artificial intelligence to effectively manage and co-ordinate the transportation refers to the Smart transportation. The smart transportation aims to provide innovative services relating to different modes of transport and traffic management. It enable various users to be better informed and make safer, more coordinated use of transport network. It can be used in various road traffic environments to follow and capture numerous vehicles at the same time in a large scene.
The Global Smart Transportation Market is expected to grow at USD ~273 Billion by 2022, at ~24% of CAGR between 2016 and 2022.
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Smart Transport Market Segmentation
The Smart Transport Market has been segmented on the basis of Solution and service. On basis of Solution the Smart Transport consists of Traffic management, smart ticketing, Parking management, integrated supervision, passenger information, and Insurance telematics solution. The study indicates that smart ticketing solution segment would grow at a highest rate in the smart transportation market by the forecast period. The increasing penetration of mobile devices and demand for digital payment are expected to drive the smart ticketing solution market. Whereas based on service segment of smart transportation system the largest market share would be grabbed by deployment and integration services segment.
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.
Market Research Analysis:
Market Research Future Analysis shows that new adoptions of cloud computing, big data, evolution of wireless network, Machine to Machine (M2M) and Internet of things (IoT) would result in sudden hike in Smart Transport market. It has been observed that developments in smart city concept result in significant growth of Smart Transport market. The major benefits of Smart Transport are improved safety, higher productivity and efficiency, more environmental friendliness and others. These factors would definitely increase the Smart Transport market very soon.
Regional analysis for Smart Transport market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Rest of world. The study reveals that European region would evolve as a leader in Smart Transport market. The study indicates large investments by European government towards is smart transportation would result in rapid growth of Smart Transport market by the forecast period. The study reveals that North America region followed by Europe would lead the Smart Transport market by the forecast period. Developing economic countries from Asia-Pacific regions as China, Japan, and India would also show a great progress in the smart transportation market.
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
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