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Smart Transportation Market Growth, Size, Share, Industry Report And Forecast To 2031
Smart Transportation Market
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The global smart transportation market report by the business research company identifies Increasing government initiatives and regulations to be a major growth driver for the smart transportation market. Governments across emerging and developing economies are focusing on investing in innovative transportation technologies to reduce congestion on roadways, maintain safe transportation practices and reduce road accidents. Currently, the Indian government is building around 599 highway projects with a total outlay budget of INR 1,000 billion ($14.67 billion), out of which INR 480 billion ($ 7.03 billion) will be spent on the development of smart cities across the new highways. Therefore, increasing government initiatives and regulations are expected to boost demand for smart transportation solutions during the forecast period.
The global smart transportation market size is expected to grow from $108 billion in 2021 to $124.21 billion in 2022 at a compound annual growth rate (CAGR) of 15.01%. The global smart transportation market size is expected to reach $238.41 billion in 2026 at a CAGR of 17.70%.
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North America was the largest region in the smart transportation market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global smart transportation market during the forecast period. The regions covered in the global smart transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Major players in the smart transportation market are Cisco Systems Inc., Toshiba Corporation, Siemens Corporation, SAP SE, Thales Group, Kapsch Traffic Com, Cubic Corporation, Alstom SA., Indra Sistemas S.A., TomTom International B.V., Huawei Technologies Co., Ltd., Iteris, Inc., Schneider Electric, and Q-Free ASA.
The global smart transportation market is segmented -
1) By Product Type: Advanced Traveler Information Systems (ATIC), Advanced Transportation Management Systems (ATMS), Advanced Transportation Pricing Systems (ATPS), Advanced Public Transportation Systems (APTS), Cooperative Vehicle Systems
2) By Transportation Mode: Roadways, Railways, Airways, Maritime
3) By Application: Traffic Management, Road Safety and Security, Parking Management, Public Transport, Automotive Telematics, Freight
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The Smart Transportation Market Report Contents Include
1. Executive Summary
2. Smart Transportation Market Characteristics
3. Smart Transportation Market Trends And Strategies
4. Impact Of COVID-19 On Smart Transportation
5. Smart Transportation Market Size And Growth
....
28. Key Mergers And Acquisitions In The Smart Transportation Market
29. Smart Transportation Market Future Outlook and Potential Analysis
30. Appendix
This report covers the trends and market dynamics of the smart transportation market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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