The smart transportation market was $ 80 billion in 2018 and anticipated to reach $ 298 billion by the end of 2023 growing at a CAGR of 22.5 % from 2018-2023.
The transportation industry of an economy is one of the key contributors towards the country’s gross domestic product (GDP).
The key factors such as growing income level, increasing consumer awareness, growing urbanization across the globe, attract this development. However, this growth needs a specific system to create a sustainable growth in the economy in which efficient transportation management plays a key role.
The smart transportation management system is a key solution to provide the efficient and effective solution to the overall transport management.
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The smart transport system enables various users to be more coordinated, better informed, and make safer and smarter use of transport networks. The management basically includes the services such as automated planning, various parking management & guidance, passenger information, and traffic management etc.
In 2018, European region captured the largest market share in the smart transportation market. The market is mainly driven by the need for better safety and security and integrating intelligent communication systems in the infrastructure, which fuelling its growth, in which in
The increasing modernization in economy expanded the market of various advanced technologies, where transportation management is also creating its path. The increasing market penetration in developing countries such as China and India would also increase the market potential giving boost to the market growth.
This trend is expected to continue during the forecast period 2018–2023, to further improve the transportation market.
Some of the prominent players in the smart transportation market are Cisco Systems, Hewlett Packard Enterprise, IBM Corporation, Siemens AG, and General Electric, Accenture PLC. , Symantec Corporation, Xerox Corporation, Garmin Ltd, Thales Group, NEC Corporation, Palo Alto Networks, Inc., Juniper Networks, Inc.
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SDMR employs a three way data triangulation approach to arrive at market estimates. We use primary research, secondary research and data triangulation by top down and bottom up approach
Our research methodology involves in-depth desk research using various secondary sources. Data is gathered from association/government publications/databases, company websites, press releases, annual reports/presentations/sec filings, technical papers, journals, research papers, magazines, conferences, tradeshows, and blogs.
Key Data Points through secondary research-
Macro-economic data points
Import Export data
Identification of major market trends across various applications
Primary understanding of the industry for both the regions
Competitors analysis for the production capacities, key production sites, competitive landscape
Cost Margin Analysis
Key Data Points through primary research-
Major factors driving the market and its end application markets
Comparative analysis and customer analysis
Collaborations or tie-ups
Annual Production, and sales
Average Selling Price
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