The rapid urbanization in today’s world is resulting into innovation of smart solutions for day to day activities. Smart transportation is one such important aspect. Smart transportation is an advanced transportation system which aims to provide innovative services related to different modes of transport and traffic management systems. Technologies applied in these systems are Internet of things, including technologies such as wireless communications, sensing technologies, real time data and computational technologies. Smart transportation system facilitates a smarter transport network which is more co-ordinated, safer and better informed. Smart transportation system is applicable in traffic information and management systems, notification and guidance systems in moving vehicle, and parking management systems.
In traffic management system, smart transportation solution monitors, manages and predicts traffic to prevent road blockages. While for end-users it empowers them by giving real time information about their vehicle performance and traffic problems to improve safety and reduce greenhouse emissions.
Smart Transportation Market: Drivers and Restraints
Increase in government norms and initiatives to reduce pollution, day to day rise in traffic congestion, and ability to save time and fuel are the key drivers resulting in the growth of smart transportation market. Moreover, factors such as rise in demand of intelligent transport solutions for better safety and security and promotion of green fuels also contribute in the growth of smart transportation market.
However, factors such as high capital investment and prerequisite of huge database of road network are restraining the growth of smart transportation market.
Smart Transportation Market: Segmentation
Smart Transportation market can be segmented on the basis of services, solution, and region wise. On the basis of services smart transportation market can be further segmented into consulting, deployment, and support and maintenance. On the basis solution it can be sub-segmented into parking management system, ticketing management system, traffic management system and integrated supervision system. Region wise smart transportation market can be segmented into North America, Europe, Asia-Pacific, Middle East and Africa and Latin America.
Smart Transportation Market: Regional Overview
North America is expected to remain the leader in smart transportation market with the highest market share with continuous technological advancements in smart solutions. Smart transportation market in Asia-Pacific region is growing at significant pace owing to need for smart systems for increasing population. The surge in digitization in and adoption of smart connectivity devices in Europe is resulting in the rapid growth of smart transportation market.
Smart Transportation Market: Key Players
Accenture, Cisco, GE Transportation, Cubic Corporation, General Electric Company, Xerox Corporation, IBM Corporation, Alstom SA, and Siemens AG are some of the major players in smart transportation market.
Other prominent players in this market include Indra Sistemas S.A., Kapsch TrafficCom AG, LG CNS Co. Ltd., Q-Free ASA, Thales Group, TomTom International B.V., WS Atkins, and Garmin International Inc.
The report covers exhaustive analysis on:
- Smart Transportation MarketSegments
- Smart Transportation MarketDynamics
- Historical Actual Market Size, 2012 - 2016
- Smart Transportation MarketSize & Forecast 2017 to 2027
- Supply & Demand Value Chain for Smart Transportation Market
- Smart Transportation MarketCurrent Trends/Issues/Challenges
- Competition & Companies involved in Smart Transportation Market
- Smart Transportation Technology
- Value Chain of Smart Transportation
- Smart Transportation MarketDrivers and Restraints
Regional Analysis for Smart Transportation Marketincludes
- North America Smart Transportation Market
- Latin America Smart Transportation Market
- Rest of Latin America
- Western Europe Smart Transportation Market
- Rest of Western Europe
- Eastern Europe Smart Transportation Market
- Asia Pacific Smart Transportation Market
- Australia and New Zealand (A&NZ)
- Rest of Asia Pacific
- Japan Smart Transportation Market
- The Middle East and Africa Smart Transportation Market
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Smart Transportation Market
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
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