The global smart transportation market is expecting the growth due to the increasing investments in the smart city product in the growth for the forecast period as smart transportation is an integral part of the smart city. The growing government focusses on the reduction of the greenhouse gas emission and increasing traffic congestion is estimated to propel the industry growth in the next few years. The global smart transportation market is anticipated to increase due to the growing demand for smart cities is one of the major factor that is responsible for this increasing demand. The growing demand and requirement for upgrading the existing transport infrastructure to support various smart solutions are driving deployment and integration services segment in the market.
Smart transportation uses various information technology and artificial intelligence for working efficiently. The technology is also used in the management and coordination of the transportation systems. The wide application of smart transportation network permits traveling population for being aware of the traffic for better coordination it also ensures safety of the drivers. The increasing number of on-road vehicles and the ineffective existing transport infrastructure is driving the need for an efficient management system. The government initiatives toward building a better infrastructure and running the transport system are increasing the market growth in the future years.
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The global Smart Transportation Market is segmented on the basis of solution, on the basis of service and on the basis of region. The global Smart Transportation Market is segmented on the basis of Solution into Ticketing management solution, Parking management and guidance system, Passenger information system, integrated supervisory system, and Traffic management system. The global Smart Transportation Market is segmented on the basis of Service into Business services, Cloud services, and Professional services. The global Smart Transportation Market is segmented on the basis of region into North America, Latin America, Europe, Middle East & Africa and Asia Pacific.
The leading market players of the global smart transportation market are focusing on the expansion of their business operations in emerging countries such as India, Indonesia, Argentina, Philippines, Russia, Thailand and more. The growing demand is anticipated to be driven by increasing per-capita disposable incomes and rapid urbanization especially in emerging countries. These companies have steadily introduced innovative resolutions to enhance their product portfolio.
The key players profiled in this report embrace GE Transportation, Accenture Plc, Cubic Corporation, Siemens, IBM, Cisco Systems, Xerox Corporation, Thales S.A., Kapsch AG, and Alstom SA. Other players in value chain include TomTom NV, LG CNS Corporation, Iteris Inc., General Electric Company, Garmin International Inc., and Q-Free ASA, Alstom SA., Indra Sistema S.A., Cisco Systems, Inc., Cubic Corporation, International Business Machines Corporation, Indra Sistemas, S.A., Kapsch Trafficcom AG, LG CNS Co., Ltd., Q-Free ASA, Siemens AG, Thales Group, Tomtom International Bv, and WS Atkins PLC. The competitive landscape of the worldwide market for smart transportation is determined by evaluation of the industry participants, production capacity.
The global Smart Transportation Market is segmented
• Ticketing management solution
• Parking management and guidance system
• Passenger information system
• Integrated supervisory system
• Traffic management system
• Business services
• Cloud services
• Professional services
• North America
• Latin America
• Middle East & Africa
• Asia Pacific
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