Smart Transportation Market : Development Insight and Manufacturers Challenge Competitors

The global smart transportation market has been valued at USD 45.10 billion in 2014, growing at a CAGR of 18.5% from 2015 to 2021. The smart transportation market finds their application in developing smart networks for better coordination of traffic. In addition, the concept of smart transportation is majorly applicable in smart cities. They ensure better traffic management, safety of the commuters and smart parking of vehicles.

The global smart transportation market is segmented by regions into North America, Europe, Asia Pacific (APAC) and Rest of the World (RoW). The market is primarily being driven due to increasing demand for smart networks. In addition, the rising awareness of traffic congestion is also aiding to the growth of the market.

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In 2015, Europe lead the market of smart transportation and the region will be dominating during the forecast period. The application of smart transportation for better coordination of traffic is acting as a driver for the market. North America follows Europe accounting for more than 25% of the global market share. However, Asia Pacific is the fastest growing region due to the presence of major economies such as China, Japan and India. Rest of the world is expected to maintain steady growth due of the developing regions as the application of smart transportation involves high initial investment.

The global smart transportation market by solutions is categorized into ticketing management systems, parking management systems, integrated supervisory systems and traffic management systems. The traffic management system has the highest market share in 2015 and is expected to dominate the market during the forecast period. The growth is attributed to the demand for better traffic management by using innovative toll systems.

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The global smart transportation market report has been analyzed and estimated in terms of revenue (USD Billion) from 2015 to 2021. In addition, we have covered the drivers and the restrains effecting smart transportation market and its impact over the forecast period. Furthermore, the future opportunities affecting the market have also been discussed.

The region segmentation for the smart transportation market has been done by North America, Europe, Asia Pacific and Rest of the World (RoW), and these have been estimated in terms of revenue (USD billion). In addition, the report segments the market based on the solutions, which include ticketing management systems, parking management systems, integrated supervisory systems and traffic management systems. The smart transportation system can also be segmented by services. It segments the market on the basis of services as cloud services, business services and professional services. All these segments have also been estimated on the basis of geography in terms of revenue (USD billion).

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For better understanding of the smart transportation market, we have provided with a key trend analysis for the segments. In addition, the market attractiveness has also been provided to give a better understanding of the various segments globally. Furthermore, the global market share of the key industry players has also been discussed for a better study of the current trends in the market.

Furthermore, the report also provides the profiles of the leading players on the basis of their company overview, financial overview, key developments, historical roadmap and business strategies adopted by the players in the smart transportation market. The major players profiled in the report include: Accenture Plc, Seimens, IBM, Cubic Corporation, GE Transportation and LG CNS among others.

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