Global Smart Transportation Market - Size, Trend, Share, Opportunity Analysis & Forecast, 2014-2025, which says that the market is likely to grow at a CAGR of over 18% from 2017 to 2025. smart transportation market is growing at a fast pace due to several reasons.
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Smart Transportation Market - Overall Industry Analysis
Research Beam added a report, “Global Smart Transportation Market - Size, Trend, Share, Opportunity Analysis & Forecast, 2014-2025”, which says that the market is likely to grow at a CAGR of over 18% from 2017 to 2025.Transport is an important aspect of every nation’s economy. It enables the transfer of people and goods from one place to another.
The transport infrastructures of several countries are facing significant pressures owing to urbanization, rising population, and environmental challenges. This calls for the need of smart transportation.
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An integration of transportation infrastructure and ICT technologies, smart transportation offers real-time information regarding traffic flow and passengers. It helps manage air, rail, and road transportation, and related infrastructure efficiently and effectively.
Smart transportation provides tools for ticketing, fare collection, passenger information, traffic estimation, data analytics, and decision support. Use of advanced technologies such as RFID tags and readers, CCTV cameras, GPS, and advanced sensors and control systems help manage traffic while allowing passengers to make informed decisions regarding the needs for transportation.
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Market Drivers and RestraintsThe global smart transportation market is growing at a fast pace due to several reasons. First is the rapid growth in population and urbanization that is leading to the market demand.
Moreover, the growing number of on-road vehicles along with the need to manage traffic flow, growing demand to reduce greenhouse gas emission, the rising adoption of IoT technology, and the favorable government investments and initiatives are all contributing to the market growth. On the other hand, the high initial capital expenditure, as well as security and privacy concerns, are likely to hinder the growth of the market.
Smart Transportation Market Key Segmentation:
The smart transportation market analysis report presents a thorough understanding of the market based on its segmentation. The market is segmented by solution, service, and geography.
Based on the solution, the industry is classified as traffic management system, parking management system, passenger information system, integrated supervision system, and ticketing management system. Based on service, the market is categorized into cloud services, professional services, and business services.
By geography, the smart transportation market is divided into Asia-Pacific, North America, Europe, and LAMEA. In Asia-Pacific, the report studies the market in India, China, Japan, Australia, and the other parts of Asia-Pacific.
In North America, the market has been analyzed across the U.S., Canada, and Mexico. The market in the European region has been studied in France, Germany, Italy, UK, Spain, and the rest of Europe.
In LAMEA, the market study has been covered for Brazil, South Africa, Saudi Arabia, and the rest of LAMEA.
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- Traffic Management System
- Parking Management System
- Passenger Information System
- Integrated Supervision System
- Ticketing Management System
- Cloud Services
- Professional Services
- Business Services
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market PlayersThe report includes a mention of the top players that provide solutions in the global smart transportation market. They include Xerox Corporation, Alstom, SA, Accenture PLC, Cisco System, Inc., LG CNS Corporation, Indra Sistema S.A., General Electric Company, Cubic Corporation, The Kapsch Group, and International Business Machine (IBM) Corporation.Key Benefits from the ReportThe study provides an in-depth analysis of the overall smart transportation industry.
It presents the latest data regarding the smart transportation market size, smart transportation market share, smart transportation market forecast, smart transportation market outlook, market dynamics, Porter’s analysis, market trends analysis, major competitors, and market segmentation. The report is a useful resource for industry players, new entrants, and investors as it helps them make sound business decisions and achieve their goals successfully.
The smart transportation industry statistics, tables and figures, and more that help explain the market add credibility to the information provided in the report. The market size explains the combined revenue in the market.
The market share analysis helps comprehend how well the competitors are doing in the market. The Porter’s Five Forces Analysis helps gauge the competitive scenario within the market to assist in strategy formation.
It comprises the bargaining power of buyers and suppliers, threat of substitutes, threat of new entrants, and industry rivalry. Quantitative and qualitative analysis of the current market helps determine the prevailing opportunities for growth.
The market forecast (2017-2025) is based on the analysis of the past smart transportation market trends and helps market players make informed business decisions.
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