According to Stratistics MRC, the Global Smart Transportation Market is accounted for $59.07 billion in 2017 and is expected to reach $237.143 billion by 2026 growing at a CAGR of 16.7% during the forecast period. Growth in transportation infrastructure, rising mega cities and population and rising number of on-road vehicles are the major key factors driving the market growth. However, lack of standardized and uniform technology may hamper the market growth.
Smart transportation utilizes information technology and artificial intelligence to efficiently manage and coordinate transportation systems. Smart transportation systems have emerged to be a sustainable solution to serve traffic management issues. These solutions are applicable to both public and private transportation and are critical to economic growth.
By Deployment Model, Cloud segment is likely to have a huge demand due to the growing need for storage of data generated through these systems. Cloud solutions have a major impact on traffic management and road safety by using the internet and the storage for traffic-related decision making. Based on geography, Europe is expected to grow significantly during the forecast period due to growing parking issues and growing investments to improve urban transport and traffic infrastructures in this region.
Some of the key players profiled in the Smart Transportation Market include IBM Corporation, Siemens AG, Cisco Systems, Inc, General Electric Company, Cubic Corporation, Alstom, Thales Group, SAP, Accenture, Rockwell Collins, Huawei, Cubic, Amadeus, Indra Sistemas and Advanced Navigation and Positioning .
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Transportation Modes Covered:
• Airways
• Railways
• Roadways
• Maritime
Services Covered:
• Support and Maintenance
• Training and Consulting
• Deployment and Integration
Products Covered:
• Advanced Transportation Management Systems (ATMS)
• Advanced Public Transportation Systems (APTS)
• Advanced Traveler Information Systems (ATIC)
• Advanced Transportation Pricing Systems (ATPS)
• Cooperative Vehicle Systems
Components Covered:
• Software
• Hardware
Platforms Covered:
• Infrastructure-as-a-Service (Iaas) Backend Platforms
• Consumer/Enterprise Software Extension Platforms
• Connectivity/M2M Platforms
• Hardware specific software Platforms
Deployments Covered:
• On-Premise
• Cloud
• Hybrid
Technologies Covered:
• Sensing Technology
• Global Positioning System (GPS)
• Wireless Technology
• Internet of things (IoT)
Applications Covered:
• Public Transport
• Video Management
• Transit Hubs
• Shared Mobility
• Route Information and Route Guidance
• Autonomous/Driverless Vehicles
• Passenger Information System
• Road Safety & Security
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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