Press release
Smart Transportation Market 2019 Global Analysis by Key Players: Siemens AG, Kapsch, General Electric Company, Alstom SA, Cubic, Kapsch, LG CNS, Accenture
Market Research Future
Global Smart Transportation Market – Overview
The smart transportation is an advanced transportation system provides innovative services associated with different modes of transport and traffic management for avoiding various problems including traffic accidents, congestion, and vehicle carbon emission. The smart transportation system involves vehicles, drivers, passengers, road operators, interacting with each other. The adoption of fleet management in smart transportation provides vehicles with a smarter solution that offers real-time visibility of driver performance, vehicle location, fuel consumption, travelling mileage speed, idle times, and increases efficiency & productivity of the vehicles.
Due to the rapid urbanization, the amount of greenhouse gas increases in the environment which leads to the adoption of alternative fuels such as bio-fuels, ethanol, compressed natural gas (CNG), and increases the demand of solar and electric vehicles which is likely to impact the growth of smart transportation systems.
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Smart transportation systems include a broad range of wireless and wireline communication-based information , connectivity technologies for the better management of traffic and improve the existing transportation infrastructure.. Furthermore, there are various benefits of smart transportation, including improvement in safety issues, higher productivity & efficiency, environmental friendliness, and better life quality. Also, the smart transportation involves the adoption of smart parking management solutions which uses the IoT technology along with mobile payment services. It also provides real-time parking information displayed on the electronic sign board that is useful for both parking staff members as well as the end-users. The adoption of multi-level parking provides various benefits including minimum utilization of land, greater convenience in entry and exit, with the help of multi sensors and safety devices offering low operating and maintenance expenses.
The adoption of advanced technologies including cloud computing, big data, evolution of wireless network, machine to machine(M2M), Internet of things (IoT), and government initiatives to support smart technologies in existing transportation are some of the factors that are impacting the growth of Smart Transportation Market. However, high capital investment and with lack reliable database for road network are some of the factors that hinder the growth of smart transportation market.
Industry Updates:
Mar 2019 The Metropolitan Transportation Commission (MTC) has chosen intelligent transportation systems technology company, Iteris, to make five cities in the San Francisco Bay Area for equipped for future connected and automated vehicle (CAV) technologies. The three-year project supports MTC’s innovative deployments to enhance arterials (Idea) programme, which seeks to enhance and upgrade the intelligent transportation systems (ITS) and enable the persistent improvement of arterial operations.
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.
Segmental Analysis
The segmentation of the global smart transportation market is carried out on the basis of solution, service, and regions. Based on solutions, the smart transportation market is segmented into smart ticketing solution, traffic management solution, parking management solution, passenger information solution, integrated supervision solution, and insurance telematics solution. On the basis of service, the smart transportation market is segmented into consulting service, support, and maintenance, deployment, and integration. The regions covered in the smart transportation market are the Americas, Asia Pacific, Europe and the rest of the world.
Detailed Regional Analysis
The analysis of smart transportation market on the basis of regions includes regions such the Asia Pacific, the Americas, Europe and the Rest of the World. The rapid digitization throughout diverse industries has motivated the market of Smart Transportation in the European region. The European region is likely to lead the smart transportation market in the forecast period due to the technological advancements, digital transformation, and growing adoption of smart connected devices. The study divulges that the government initiatives aimed at smart transportation in the European region are motivating the smart transportation market in this region. The North American region follows the European region is anticipated to develop considerably by the forecast period. The countries in the Asia Pacific region such as Japan, India, China, and Korea and are expected to demonstrate stable growth in the smart transportation market in the upcoming 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
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