Smart Transportation Market in Roadways segment to reach USD 108 billion by 2024 | Top Players are Cisco, Cubic Corporation, IBM, Indra, GE, Kapsch TrafficCom AG, Siemens, Thales, TomTom

Smart Transportation Market in Roadways segment is anticipated to grow 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. The government of various countries are also taking up initiatives and implementing regulations for the development of the smart railway system. In some countries including China, the government has invested USD 28 billion in various PPP projects for implementing smart railways.

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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.

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

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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.

Smart ticketing solutions assist cities in reducing frauds, revenue loss, and maintenance costs. These solutions increase accessibility to integrated transport systems; hence, the smart ticketing market worth is expected to grow at a fast rate and reach USD 11.4 billion by 2024. They offer greater flexibility, faster transactions, and reliability by providing access to new payment types. The UK government invested USD 98 million to introduce smart ticketing in England and Wales by the end of 2018.

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.

Some of the vendors in the smart transportation market are Agero Inc., Accenture, Alstom, Avail Technologies Inc., Clever Devices, Cisco, Cubic Corporation, ETA Transit Systems, GMV Innovating Solutions, IBM, Indra, S.A, GE, Kapsch TrafficCom AG, LG CNS Co. Ltd., Siemens, Thales, TomTom, Trapeze Group, TransCore Inc. and WS Atkins PLC.

Browse key industry insights spread across 370 pages with 214 market data tables & 24 figures & charts from the report, Smart Transportation Market in detail along with the table of contents:

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