Press release
Smart Transportation Market 2018 Global Leaders: AECOM, Accenture Plc, General Electric Company, Alstom SA, Cubic, Kapsch, Thales Group, Siemens AG
Market Scenario:
The use of information technology and artificial intelligence to effectively manage and co-ordinate the transportation refers to the Smart transportation. The smart transportation aims to provide innovative services relating to different modes of transport and traffic management. It enable various users to be better informed and make safer, more coordinated use of transport network. It can be used in various road traffic environments to follow and capture numerous vehicles at the same time in a large scene.
Along with technology development, new adoptions of cloud computing, big data, evolution of wireless network, Machine to Machine (M2M) and Internet of things (IoT) have boosted the Smart Transportation Market. The study indicates that rising demand of integrated security & safety for enhancing public safety is driving the smart transportation market. It has been observed that government is taking initiative to incorporate smart technologies in the existing transportation infrastructure which results in the growth of smart transportation market by the forecast period.
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The Smart Transportation Market for segment on the basis of Solution and service. The solution segment consists of various solutions as Traffic management, smart ticketing, Parking management, integrated supervision, passenger information solution, and Insurance telematics solution. The smart ticketing integrates online ticketing, onboard ticketing, smart card ticketing, and mobile application ticketing. The smart ticketing solution aims to provide better services to their customers and also minimize fund leakage & fare avoidance situations. The traffic management solution is used in various road traffic environments to follow and capture numerous vehicles at the same time in a large scene and manage the traffic smartly and effectively.
The Global Smart Transportation Market is expected to grow at USD ~273 Billion by 2022, at ~24% of CAGR between 2016 and 2022.
Industry Updates:
Jan 2018 Didi Chuxing which is a mobile transportation platform has entered into a collaboration with Chinese traffic management authorities. The joint initiative has subsequently launched combined solution for traffic management in a smart city set up. The initiative has been the nicknamed the “DiDi Smart Transportation Brain.” The initiative has thus been implemented by more than 20 Chinese cities and is led by three principal feature. The solution readily facilitates real-time data leveraging cloud computing and AI-based technologies to offer cities with a variety of transportation infrastructure developments.
Jan 2018 Cubic Corporation announced recently the Cubic Transportation Systems (CTS) business division will display their innovations and technologies for smart city transportation planning in an upcoming exhibition. Cubic will exhibit their open-payment platforms and account-based ticketing, novel mobile technologies and additional strategies for growing competencies for the convenience and accessibility for travelers and transportation operators.
Key Players
The prominent players in the Smart Transportation 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.
Industry Segments
The industry for smart transportation is categorized on the basis of service and solution.
• By Service: Integration and deployment, consulting service, maintenance and support
• By Solution: Smart ticketing solution, insurance telematics solution parking management solution, integrated supervision solution and passenger information solution
Regional Analysis
The regions included in the market for smart transportation includes regions such as Americas, Asia pacific, Europe and Rest of the World. Swift digitization spanning various industries which has driven the market especially in the European region. The European region is anticipated to control the market for smart transportation in the forecast period due to digital transformations, technological developments, and growing adoption of smart devices. According to the report, government initiatives for smart transportation in the European region is instrumental in driving the market in this region. North America region follows the European market is anticipated to develop considerably in the forecast period. The countries in the Asia-Pacific countries such as Japan, India China, and Korea are likely to show stable growth in the forecast period.
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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
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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