Press release
What’s driving the Smart Transportation Market Growth? | Key Industry Players are Agero, Inc., Accenture, Alstom, Clever Devices, Cisco, Cubic Corporation, IBM, Indra, GE, Kapsch TrafficCom AG, Siemens, Thales, TomTom, Trapeze Group, TransCore
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The companies operating in the smart transportation market are investing in research and development strategies aimed at new product developments. These products assist in improving transport efficiency by providing traffic control, parking assistance & management, and electronic toll collection solutions.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Agero, Inc.
2. Accenture
3. Alstom
4. Clever Devices
5. Cisco
6. Cubic Corporation
7. IBM
8. Indra
9. GE
10. Kapsch TrafficCom AG
11. Siemens
12. Thales
13. TomTom
14. Trapeze Group
15. TransCore
Chapter 3. Smart Transportation Market Industry Insights
3.1. Introduction
3.2. Industry segmentation
3.3. Smart transportation industry landscape, 2013 - 2024
3.4. Smart transportation industry ecosystem analysis
3.5. Smart transportation evolution
3.6. Market news
3.7. Smart transportation regulations
3.7.1. Safer Journeys Action Plan (New Zealand)
3.7.2. Bharat Stage Emission Standards (India)
3.7.3. Goods Vehicles Licensing of Operators Act (Northern Ireland)
3.7.4. The Transport Act, 2000
3.8. Technology & innovation landscape
3.8.1. Mobile internet services integrated with intelligent transport
3.8.2. Increasing popularity of AI integrated with Smart transportation
3.8.3. Enhanced user experience and improved lifestyle
3.9. Industry impact forces
3.9.1. Growth drivers
3.9.1.1. Rapid urbanizations and government investment in smart transportation
3.9.1.2. Adoption of connected vehicles for enhancing public safety and security
3.9.1.3. Reduction in collision
3.9.1.4. Improved life with smart parking and smart ticketing
3.9.1.5. Environment protection
3.9.1.6. Advanced infrastructure
3.9.2. Industry pitfalls & challenges
3.9.2.1. Huge capital requirement
3.9.2.2. Big data increases complexity
3.9.2.3. Long downtime for replacing the existing system
3.9.2.4. Immature market conditions
3.10. Growth potential analysis
3.11. Porter's analysis
3.12. PESTEL analysis
Roadways account for the highest share in the smart transportation market and are anticipated to dominate the market growing at a CAGR of 20 percent with USD 36 billion in 2017 to reach USD 108 billion by 2024. Approximately 1745.5 million metric CO2 emissions come from the transportation sector, accounting for 28 percent of total emissions globally. The adoption of smart transportation solutions, such as smart fuels and connected vehicles, helps in reducing the total carbon emissions and enhancing the environmental safety. The railway sector is expected to grow at the fastest rate over the forecast period. It carries billions of tons of freight and passengers each year, which results in the development of efficient smart rail infrastructure and technologies.
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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.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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