Asia-Pacific smart transportation market is projected to witness considerable growth during the forecast period. The major factors contributing to the growth of the market include the smart city initiatives in the emerging economies of the region, such as China and India. Moreover, the rising urban population and significant penetration rate of IoT and automation technologies in the region, are some other factors augmenting the market growth in Asia-Pacific. The smart transportation market is classified on the basis of transportation mode and application. Based on transportation mode, the market is segmented into railways, airways, roadways, and maritime. Based on application, the market is segregated into ticketing management system, parking management system, traffic management system, and others. The smart transportation market will be driven by the roadway’s transportation. The roadway smart transportation market is estimated to project a considerable CAGR during the forecast period.
Geographically, Asia-Pacific smart transportation market is analyzed for China, Japan, India, and rest of Asia-Pacific. China contributed the major share in Asia-Pacific smart transportation market in 2019 and is expected to retain at its position during the forecast period. The dominance of China in Asia-Pacific market is mainly due to the presence of the world’s largest electronics hub, offering a range of products at a comparable price. India is projected to exhibit a considerable CAGR in Asia-Pacific smart transportation market during the forecast period, owing to the rising spending of government on the development of smart city infrastructure, backed by public-private partnership (PPP) model.
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Asia-Pacific Smart Transportation Market – Segmentation
By Transportation Mode
- Railways
- Roadways
- Airways
- Maritime
By Application
- Ticketing Management System
- Parking Management System
- Traffic Management System
- Others (Integrated Supervision System)
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Asia-Pacific Smart Transportation Market – Segmentation
- China
- Japan
- India
Rest of Asia-Pacific
Company Profiles
- Cisco Systems, Inc.
- Hitachi, Ltd.
- Huawei Technologies Co., Ltd.
- IBM Corp.
- Intel Corp.
- Oracle Corp.
- SAP SE
- Siemens AG
- Thales Group
- Toshiba Corp.
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