Smart Transportation Market Scope
Smart transportation is an array of technologies that helps to achieve a goal of efficient energy management, improve the quality of life and safety of urban citizens. Though, the technological infrastructure across the world is growing at significant pace, the emerging countries still needs substantial development in the area of smart transportation and networking infrastructure. The European Commission has put forward an investment plan worth USD 13 billion in the transport infrastructure for 276 transport projects, selected under the Connecting Europe Facility (CEF).
According to AMA, the Global Smart Transportation market is expected to see growth rate of 18.9% Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Smart Transportation market throughout the predicted period.
Accenture (Ireland), Alstom (France), Cisco System (United States), Cubic (United States), General Electric (United States), Indra Sistema (Spain), IBM (United States), Kapsch (Austria), LG CNS (South Korea), Conduent Inc. (United States), Trimble (United States), TomTom (Netherlands) and Hitachi (Japan) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are The Descartes Systems (Canada), Rockwell Collins (United States), DNV GL (Norway) and BENTLEY SYSTEMS (United States).
Segmentation Overview
The study have segmented the market of Global Smart Transportation market by Type (Ticketing Management System, Parking Management System, Integrated Supervision System and Traffic Management System), by Application (Autonomous/driverless vehicles, Route information and route guidance, Shared mobility, Transit hubs, Video management and Others) and Region with country level break-up.
On the basis of geography, the market of Smart Transportation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Surging demand of autonomous vehicles in various developed economies such as United States, United Kingdom, France and others and Encourages the development and promotion of green fuels
Market Growth Drivers:
Rise in traffic congestions owing to increase in number of vehicles across the world and Smooth flow of traffic and time saving in commutation of vehicles
Restraints:
Lack of standardized regulatory framework for energy sectors
Opportunities:
Surging government focus on reducing greenhouse gas emission and curbing alarming levels of traffic congestion and Rise in demand of efficient transportation and networks worldwide
Market Leaders and their Expansionary Development Strategies
In January 2019, Cubic Corporation announced the acquisition of GRIDSMART Technologies Inc., a market-leading, technology-driven business with a differentiated video tracking offering in the Intelligent Traffic Systems (ITS) market., and In November 2018, Kapsch TrafficCom announced its acquisition of eTrans Systems, a Virginia-based provider of connected and autonomous vehicle (CAV) solutions that provide the foundation for a wide range of safety and mobility applications. The acquisition enriches the Kapsch
Key Target Audience
Public transportation departments, Managed Service Providers (MSPs), System integrators, Original Equipment Manufacturers (OEMs), Transportation agencies, Consultancy firms/advisory firms, Transportation services providers and Solution vendors
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.