Press release
Riding the Wave : Smart Transportation Market on Course to Hit $251.0 Billion by 2030
Smart Transportation Market
๐๐๐ฃ๐จ๐ซ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ
Alstom
Cisco Systems, Inc.
IBM Corporation
Cubic Corporation
MSR-Traffic GmbH
Iteris, Inc.
Thales Group
Siemens
TomTom International BV.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ - https://www.alliedmarketresearch.com/request-sample/380
๐ ๐๐๐ญ๐จ๐ซ๐ฌ ๐ข๐ง๐๐ฅ๐ฎ๐๐ง๐๐ข๐ง๐ ๐ญ๐ก๐ ๐ ๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ ๐ญ๐ก๐ ๐ฆ๐๐ซ๐ค๐๐ญ:
The global smart transportation market is expanding rapidly due to factors such as growth in demand for efficient transportation networks, promotion and development of green fuel, time efficiency, and smooth flow of traffic. However, huge database requirements for road networks and high capital investment restrain the market expansion to some extent. Nevertheless, the arrival of parking management systems and investment in advanced ideas for smart cities will offer remunerative growth opportunities.
๐๐ก๐ ๐๐ข๐ซ๐ฐ๐๐ฒ๐ฌ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฐ๐ข๐ญ๐ง๐๐ฌ๐ฌ ๐๐๐ฌ๐ญ๐๐ฌ๐ญ ๐ ๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ฒ ๐๐๐๐
By vehicle type, the airways segment would experience the fastest growth with 11.2% throughout the forecast timeframe. The huge expansion of the aviation sector drives the growth of the segment. The roadways segment, on the other hand, gained the highest share of nearly one-third of the overall market revenue, owing to the increasing proliferation of automobile fleets across the world.
๐๐ก๐ ๐ญ๐ซ๐๐๐๐ข๐ ๐ฆ๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐ฌ๐ฒ๐ฌ๐ญ๐๐ฆ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ฌ๐๐๐ฎ๐ซ๐๐ ๐ญ๐ก๐ ๐๐จ๐ฆ๐ข๐ง๐๐ง๐ญ ๐ฉ๐จ๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐ข๐ง ๐๐๐๐
In terms of solution, the traffic management system segment grabbed the highest share in 2020, accounting for nearly one-third of total market revenue. Integration of smart traffic systems and smart cities and swift urbanization drive the expansion of the segment. The parking management and guidance system segment, however, is projected to witness an accelerated growth with 11.7% CAGR from 2021 to 2030. The growth is attributed to enhanced collaboration between transportation and parking, accelerating demand for electronic cashless payment systems, and advanced technologies that enhance payment automation and access control.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: - https://www.alliedmarketresearch.com/smart-transportation-market/purchase-options
๐๐ฎ๐ซ๐จ๐ฉ๐, ๐๐จ๐ฅ๐ฅ๐จ๐ฐ๐๐ ๐๐ฒ ๐๐จ๐ซ๐ญ๐ก ๐๐ฆ๐๐ซ๐ข๐๐, ๐ญ๐จ ๐๐ ๐ญ๐ก๐ ๐ก๐ข๐ ๐ก๐๐ฌ๐ญ ๐ซ๐๐ฏ๐๐ง๐ฎ๐ ๐๐จ๐ง๐ญ๐ซ๐ข๐๐ฎ๐ญ๐จ๐ซ ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
As per the regional analysis in the report, Europe region contributed to the highest revenue of around one-third of the global smart transportation market share in 2020. The development of smart infrastructure and smart cities across the region propels the growth of the North America market. Moreover, the Asia-Pacific region is estimated to grow at the fastest rate with 11.7% CAGR from 2021 to 2030, owing to technological advancements and rise in production and sales of automobiles across the region.
๐๐๐๐๐-๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐
โ๏ธThe COVID-19 crisis created uncertainty in every market and has caused a significant blow to the transportation industry. With most governments enforcing isolation practices, there is a substantial decline in the transportation industry.
โ๏ธGovernments across different regions announced total lockdown and the temporary shutdown of industries, leading to border closures that restricted the movement of transportation & logistics services.
โ๏ธIn countries such as China and the U.S., toll and fare collections have been stopped. China has implemented a no-stop, no-check, toll-free policy for vehicles transporting emergency supplies and essential personnel.
โ๏ธHowever, market players have adopted innovative strategies to increase growth opportunities in the global smart transportation market with growth in demand for proper traffic management systems and improved transportation infrastructure facilities for the safety of passengers.
โ๏ธAs per the current scenario, the overall world is getting back on track slowly. With new restriction and policies, a significant recovery in the transportation sector across the retail industry may positively influence the smart transportation market owing to the latest technological innovations regarding vehicle safety.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ - https://www.alliedmarketresearch.com/purchase-enquiry/380
๐๐ข๐ฆ๐ข๐ฅ๐๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ :-
https://www.alliedmarketresearch.com/intelligent-transportation-system-market - Intelligent Transportation System (ITS) Market : Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/artificial-intelligence-transportation-market-A11355 - Artificial Intelligence in Transportation Market : Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/transportation-security-technology-market - Transportation Security Technology Market : Global Opportunity Analysis and Industry Forecast, 2018-2025
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