Smart Transportation Market Growth Analysis 2024 By Top Key Players - Accenture PLC, Cisco Systems, Inc., Cubic Corporation, General Electric Company, IBM Corporation, Siemens AG, Thales Group, WS Atkins

MarketStudyReport.com Adds New Smart Transportation Market 2018 – 2024 research report evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2018-2024.

Some of the players operating in the smart transportation market include Accenture PLC, Cisco Systems, Inc., Cubic Corporation, General Electric Company, IBM Corporation, Siemens AG, Thales Group, and WS Atkins.

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North America is projected to dominate the smart transportation market by 2024 due to rapid deployment of smart transportation solutions, which offer features such as real-time traffic information, parking assistance, adaptive traffic signal control, electronic toll collection, and real-time information for public transit systems. Asia Pacific is the fastest growing region in the smart transportation market owing to the government initiatives for development of smart city solutions in this region. The developed countries including Australia and Japan have already adopted smart transportation facilities as they are politically and technologically advanced.

The IoT-enabled transport services are also widely being leveraged for smart parking solutions, telematics solutions, ticket management, security and surveillance, and passenger information systems. Moreover, due to the smart city revolution, the government of various countries are investing huge funds in the smart city initiatives, which assist in developing connected vehicle technologies, smart infrastructure, and optimizing traffic patterns thereby making transport systems more efficient and reliable. For instance, in 2017, the Indian government invested USD 15 billion for the development of smart infrastructure and management services under the smart city initiative.

Smart traffic management solutions hold the highest share in the smart transportation market with USD 9.3 billion in 2017 and are anticipated to reach USD 25.4 billion by 2024. The smart traffic management systems are inbuilt with sensors, which regulate the flow of traffic by reducing traffic congestion, pollution, and accidents, thus enhancing the smart transportation market growth. For instance, in January 2018, the China-based firm, Didi Chuxing together with Chinese traffic management authorities launched a smart city traffic management solution known as DiDi Smart Transportation Brain. This product has been adopted by more than 20 Chinese cities, facilitating the real-time data flow through AI and cloud computing technologies, improving the transportation infrastructure including the measurement of traffic flow, smart traffic signaling, and traffic management.

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Increased traffic congestion, growing pollution, and high occurrences of accidents are the major factors enabling the countries to globally adopt the smart transportation system. These systems enable the integration of various smart technologies such as IoT, artificial intelligence, and smart sensors into transportation vehicles, thereby driving the market growth. The systems aid in improving the fleet & logistics management, goods & services management, driver assistance for traffic management, and automation of roadways, railways, and airways, accelerating the smart transportation adopt the smart market demand.

Table of Content:

Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Smart Transportation Market Industry Insights
Chapter 4. Competitive Landscape
Chapter 5. Global Smart Transportation Market, By Mode of Transportation
Chapter 6. Global Smart Transportation Market, By Component
Chapter 7. Global Smart Transportation Market, By Deployment model
Chapter 8. Global Smart Transportation Market, By Region
Chapter 9. Company Profiles

More Details on this Report At: https://www.marketstudyreport.com/reports/smart-transportation-market

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