About Smart Transportation
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).
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Billion) |
CAGR | 18.9% |
Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Smart Transportation market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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 coverage are The Descartes Systems (Canada), Rockwell Collins (United States), DNV GL (Norway) and BENTLEY SYSTEMS (United States).
Segmentation Overview
AMA Research has segmented the market of Global Smart Transportation market by Type (Ticketing Management System, Parking Management System, Integrated Supervision System and Traffic Management System), Application (Autonomous/driverless vehicles, Route information and route guidance, Shared mobility, Transit hubs, Video management and Others) and Region.
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). If we see Market by Transportation Mode, the sub-segment i.e. Airways will boost the Smart Transportation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
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
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.