Study papers on Smart Solutions Market for Mass Transit (Roadway & Railway) market and regional forecast. Key Smart Solutions Market for Mass Transit (Roadway & Railway) market players are Thales Group (France), Siemens AG (Germany), Kapsch TrafficCom (Austria), TomTom International (The Netherlands), WS Atkins Plc (U.K.), Q-Free ASA (Norway), Swarco AG (Austria), TransCore LP (U.S.), Iteris Inc. (U.S.), Efkon AG (Austria).
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Smart solutions market for mass transit for roadways and railways is projected to grow at a CAGR of 8.90%, to reach USD 44.78 billion by 2021. Major driving factors for the smart solutions market for mass transit are rapid urbanization, industrialization, and demand for safety, comfort, and convenience, especially in emerging economies.
However, some of the key restraints such as slow growth of GDP in developing economies, capital-intensive nature of the project and concerns related to data storage could affect the growth of the smart solutions market for mass transit.
- Smart public transportation solution providers
- Manufacturers of smart public transportation components
- Raw material suppliers for smart public transportation components
- Transportation authorities
- Legal and regulatory authorities
- Fleet operators
The automatic passenger counter system accounted for the largest market size in terms of application for both roadways and railways as a transportation mode as this component assists to record precise and accurate passenger data and helps plan transits accordingly.
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The automatic vehicle location system segment is estimated to be the fastest growing market by roadways transportation mode. The growth is observed owing to the advantage it offers such as vehicle tracking.
This helps the transportation authorities to keep a real time check on the transit and provide assistance in case of medical emergency.
2 Market Ranking Analysis: Smart Solutions Market for Mass Transit
3 Expansion and Supply Contracts
4 New Product Launch
5 Mergers & Acquisitions
6 Agreements/Partnerships/Joint Venture / Collaboration
The intelligent vehicle initiative system is observed as the fastest growing market, by technology. The growth is observed due the benefits the system offers to the user.
The system includes processors, software, warning devices and for guiding the drivers in best possible manner. For instance, the EU developed “Shift2Rail” a public-private program which improves safety and passenger security.
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For instance The Tri-County Metropolitan Transportation District of Oregon (U.S.) had implemented automatic passenger counter (APC) systems in public transits. With the new system, the Federal Transit Administration is able to collect the data automatically and with functional changes have enhanced service quality and had improved efficiency of the transits.
The report defines, describes, and projects the smart solutions market for mass transit on the basis of applications, components, technology and region
- It analyzes the opportunities offered by various segments of the market to stakeholder
- It analyzes the regional markets for growth trends, future prospects, and their contribution to the overall market
- It also tracks and analyzes competitive developments such as joint ventures, mergers and acquisitions, new product launches, expansions, and other industry activities carried out by key industry participants
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