In this fast growing environment, companies are increasing investments in internet of things (IoT), and innovation. In Smart Transport market innovation is a key driver. In this changing environment with an increase of demands of efficient transportation networks, integrated security & safety and others there is a need to develop and adopt to the Smart Transport systems. The increasing focus of government in building smart cities is predicted to drive smart transportation demand as it is an integral part of the smart city projects.
The Smart Transport systems are developing rigorously to overcome some of existing issues such as lack of good quality and safe public transportation, reduced road safety concerns, inadequate capacity of manage public transportation, poor traffic management, overcrowded road network, theft, poor road conditions, parking issues and others. The study indicates a need for large database of road networks and high costs of installation would be the restraining factor for Smart Transport Market.
The Smart Transport Market is growing rapidly over 24% of CAGR and is expected to reach at USD 273 Billion by the end of forecast period.
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- 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)
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 Marketby 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.
Access the market data and market information presented through more than 25 market data tables and 25 figures spread over 100 numbers of pages of the project report “Smart Transportation Market – Forecast to 2022”
- 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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List of Figures
FIGURE 1 Research Network Solution
FIGURE 2 Smart Transport Market: By Solution (%)
FIGURE 3 Smart Transport Market: By Service (%)
FIGURE 4 Smart Transport Market: By Region
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