Market Overview

As per the new report published by Market Research Future (MRFR), the global smart transportation market is slated to attain a remarkable market valuation of USD 273 billion by 2022 at a striking CAGR of 24% over the review period (2016 to 2022).

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Key Players

The prominent players in the Smart Transportation System Market are - Cisco Systems, Inc. (U.S.), General Electric Company (U.S.), Alstom SA (France), Cubic Corporation (U.S.), Kapsch (Austria), IBM Corporation (U.S.), Thales Group (France), Siemens AG (Germany), AECOM (U.S.), Accenture Plc (Ireland), LG CNS Co. Ltd. (Korea), TomTom International B.V. (Netherlands) among others.

Segmental Analysis

The global market for smart transportation has been studied on the basis of solutions and services. The market segmentation based on solutions has been done into smart ticketing solutions, traffic management solutions, parking management solutions, passenger information solutions, integrated supervision solutions, insurance telematics solutions, and others. The market segmentation on the basis of services has been conducted into deployment and integration, consulting services, and support & maintenance.

Detailed Regional Analysis     

The regional analysis of the global smart transportation market is studied for North America, Europe, Asia-Pacific, and the rest of the World.

North America is assessed to lead the smart transportation market with developed countries such as the US and Canada as the leading country-wise markets and is slated to remain dominant during the assessment period. The market growth is due to technological advancements and huge investments from the government towards the improvement of transportation facilities with the adoption of smart solutions.

Asia-Pacific is poised to reach the fastest CAGR during the forecasted period with Japan, China, India as the leading developing economies in this region due to the growing demand for smart transportation systems for the fast population growth and increasing urbanization in this region. Various countries in APAC, such as Japan, China, and Australia, have started recognizing ITS as a solution to curb such complications as air pollution, traffic congestion, and greenhouse gas emissions. Thus, the market in APAC has a high growth potential over the foreseeable future.

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Intended Audience

• Public transportation authorities
• Networking and Communication Service Providers (CSPs)
• Cloud service providers
• Smart cities stakeholders
• Investors and consultants
• System Integrators
• Government Organizations
• Research/Consultancy firms
• Technology solution providers
• Transport agencies