The global smart transportation market size was valued at $63,667 million in 2015, and is projected to reach $237,701 million by 2022, growing at a CAGR of 18.6% from 2016 to 2022. Smart transport consists of intelligent transportation systems (ITSs) that aim to offer innovative and superior services for different modes of transport and traffic management.
Smart Transportation Market Players in the Value Chain, Accenture Plc, Siemens, IBM, Cisco Systems, GE Transportation, Xerox Corporation, Cubic Corporation, Thales S.A., Kapsch AG, Alstom SA, Other players in value chain include (profiles not included in the report):, , LG CNS Corporation, Indra Sistema S.A., Iteris Inc., TomTom NV, Garmin International Inc., Q-Free ASA
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Use of this system increases the coordination of users and makes them better informed of safer and smarter use of transport networks. Smart transportation is implemented in parking management & guidance, passenger information, and traffic management. Investments in smart cities, which are expected to integrate smart transportation, provide numerous opportunities for this market. Moreover, introduction of parking management system, which induces various functions to help drivers to locate parking space easily, presents opportunity for growth. However, large database requirement of a road network and the need for high capital investment, as the existing transport system requires a complete restoration, impedes the market growth.
The smart transportation market is segmented into service, solution, and geography. By service, it is divided into business, professional, and cloud services. The solution segment includes ticketing management system, parking management & guidance system, integrated supervision system, and traffic management system. Geographically, it is segmented across North America (U.S. and Canada), Europe (UK, Germany, France, and rest of the Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The passage highlights the trend of governmental organizations increasing their maintenance budgets for system infrastructure while also investing in initiatives for project development, modernization, and enhancement. This has led to the success of investments and an increase in the annual funding set aside by ICT vendors for the growth of the online market. The passage also mentions the anticipated increase in global ICT exports, which are expected to rise by an average of 3.9% yearly from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. The global supply of ICT has increased by 9.5% yearly since 2009.
In terms of global ICT exports in 2021, Ireland ranked first with US$ 169.32 billion, followed by the United States at number 2, India at number 3, and China at number 4. The passage also notes the significant increase in Brunei’s global ICT exports by 228.2% year over year since 2009, while Sierra Leone’s global ICT exports have decreased by 61.7% year over year in the same period. Overall, the passage highlights the growth and potential of the global ICT market, driven by increased investments and funding for infrastructure and project development.
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It seems that the ICT industry in Europe is predicted to experience moderate growth in the coming years, with an annual increase of 1.5% expected from 2021 to 2026. Germany currently holds the top position in terms of ICT revenue in Europe, followed by the United Kingdom, France, and Ireland. It’s interesting to note that while some countries like Malta have experienced significant growth in the ICT industry since 2016, others like Italy have seen a slight decline. This information can be useful for businesses and investors looking to enter or expand in the European ICT market.
Key Benefits
The report includes an extensive analysis of the factors that drive as well as restrain the global smart transportation market.
The market projections from 2014 to 2022 are included, along with the affecting factors.
The report also provides quantitative as well as qualitative trends to assist the stakeholders to understand the situations prevailing in the market.
Extensive analysis by vehicle type helps in understanding the various types of smart transportation systems.
Smart Transportation Market Key Segmentation
By Solution
Hybrid Ticketing Management System
Parking Management & Guidance System
Integrated Supervision System
Traffic Management System
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By Service
Business
Professional
Cloud
By Geography
North America
U.S.
Canada
Europe
Germany
France
UK
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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