Press release
Smart Transportation Current Market Trend, Survey | Industry Analysis
Smart Transportation Market
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“Rising demand of integrated security and safety system for enhancing public safety is expected to drive the growth of the smart transportation market”
The smart transportation market size is expected to grow from USD 72.05 billion in 2016 to USD 220.76 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 25.1% during the period 2016–2021. The major drivers for an upsurge in demand for the smart transportation market include the rising urban population and demand of integrated security & safety system for transportation. Investment in legacy systems precluding the Return of Investment (ROI) is one the restraining factors that affect the growth of the market.
“Passenger information solution is estimated to have the largest market share”
The passenger information solution is expected to have the largest market share during the forecast period. Passenger information solutions make an important link between commuters and transit service providers. Keeping commuters informed with their current journey information is one of the top most priorities of the transit agencies. Passenger information solutions provide real-time information of the transit services, such as current location, estimated arrival & departure time, and causes for disruption.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up profile of the primary discussion participants is given below:
• By Company Type: Tier1 (44%), Tier2 (37%), and Tier3 (19%)
• By Designation: C-Level (65%) and Manager Level (35%)
• By Region: Europe (44%), APAC (18%), North America (33%), and Rest of World (RoW) (5%)
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Key players include:
(Overview, Products & Services, Strategies & Insights, Developments and MnM View)*
• Alstom SA (Levallois-Perret, France)
• Cisco Systems, Inc. (California, U.S.)
• Cubic Corporation (California, U.S.)
• General Electric Company (Massachusetts, U.S)
• IBM Corporation (New York, U.S.)
• Indra Sistemas S.A. (Madrid, Spain)
• Kapsch TrafficCom AG (Vienna, Austria)
• LG CNS Co. Ltd. (Seoul, South Korea)
• Q-Free ASA (Trondheim, Norway)
• Siemens AG (Munich, Germany)
• Thales Group (La Defense, France)
• TomTom International B.V. (Amsterdam, Netherlands)
• WS Atkins (Epsom, U.K.)
Research Coverage
The global smart transportation market has been segmented on the basis of solution types, services, and regions. A detailed analysis of the regions has been done to provide insights into the potential future business opportunities in different regions. In addition, product portfolio analysis and vendor strategy analysis are some of the other MarketsandMarkets analysis included in the report.
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