Smart Transportation System Market Scope
Smart transportation system is defined as the technology, application or platform, which provide innovative services involving different modes of transport & traffic management. Various advantages of using a smart transportation system such as how much time taken to reach a particular destination, information regarding daily commuters about public buses & timings, checking seat availability in bus & train, the density of passengers inside the bus, prior information about traffic, among others.
According to AMA, the Global Smart Transportation System market is expected to see growth rate of 8.3%The market is fragmented with numerous players focusing on technique and quality of the product owing to which the global smart transportation system market can witness an upsurge in the forecast period. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Smart Transportation System market throughout the predicted period.
Accenture plc (Ireland), Alstom SA (France), Cisco System Inc. (United States), GE Transportation (United States), IBM Corp. (United States), Indra Sistemas SA (Spain), Kapsch TrafficCom AG (Austria), Schneider Electric Co. (France), Siemens AG (Germany), Thales Group (France), FLIR Systems (United States), TomTom International BV (Netherlands), Hitachi, Ltd. (Japan), Conduent Incorporate (United States), DENSO Corporation (Japan) and Garmin Ltd. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
The study have segmented the market of Global Smart Transportation System market , by Application (Railway, Roadway, Aviation and Marine) and Region with country level break-up.
On the basis of geography, the market of Smart Transportation System 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:
Increasing Concerns toward Protecting Environment with Eco-friendly Automobile Technology
Market Growth Drivers:
Increasing Concerns Related to Public Safety, Increasing Traffic Congestion Problems such as Rising Number of Vehicles and Insufficient Infrastructure, Auspicious Initiatives Taken By Government for Effective Traffic Management and Development of Smart Cities across the World
Challenges:
Achieving Interoperable and Standard ITS Architecture and Lack of Skilled Personnel in order to handle the Smart Transportation System
Restraints:
High Expenses Associated With ITS Installation and Relatively Slow Growing Infrastructure Sector
Opportunities:
Designing and Developing Smart Vehicles Compatible With ITS, Increasing Public-Private Partnerships (PPPs) and Increasing Number of Economically and Technologically Developing Countries
Market Leaders and their Expansionary Development Strategies
In January 2019, the Cisco System Inc. (United States) Company has announced to acquire Singularity Networks, Inc. (United States) Company, which is a privately-held network infrastructure analytics company. Therefore, this acquisition will help in strengthening the position of the company in the future.
In September 2018, the BYD Auto Co., Ltd. (China) Company has launched an open source platform for smart transportation. Therefore, this launch will help with the company to the increased product portfolio, In December 2018, the Unlimit Powered (India) Company has Launched AIS-140 GPS system for connected vehicles. It will increased product portfolio of the company in the future. and In December 2018, the Reliance group company has launched a GPS system for public transport. Hence, this will, in turn, propel the growth of smart transportation system market.
Key Target Audience
Component and Equipment Suppliers, Original Equipment Manufacturers (OEMS), Original Design Manufacturers (ODMS), Installers and Maintenance Service Providers, Research Organizations, Component Integrators and Technology Providers
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.