The global smart transportation market is growing at a significant CAGR of around 9.8% during the forecast period (2020-2026). Smart transportation refers to the integrated application of modern technologies and management strategies in transportation systems. Smart transportation includes the use of several technologies, from basic management systems such as car navigation; traffic signal control systems; container management systems; automatic number plate recognition or speed cameras to monitor applications, such as security CCTV systems; and to more advanced applications that integrate live data and feedback from a number of other sources. The evolution of intelligent transportation systems is providing a growing number of technology solutions for transportation managers, to operate and maintain the systems more efficiently and improve performance.
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Moreover, there are several pivotal factors that are driving the global smart transportation market, which includes growing government initiatives and public-private partnerships (PPP) for the extension of smart transportation across the globe. This factor is further backed by several smart city projects in the emerging economies, such as China and India. Moreover, the adoption of IoT, analytics, and automation technologies will further offer growth opportunity to the smart transportation market during the forecast period. However, high cost of deployment and stringent regulatory policies will affect the market growth during the forecast period.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Smart Transportation Market by Transportation Mode
- Railways
- Roadways
- Airways
- Maritime
Global Smart Transportation Market by Application
- Ticketing Management System
- Parking Management System
- Traffic Management System
- Others (Integrated Supervision System)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Advantech Co., Ltd.
- ALSTOM Holdings
- Amadeus IT Group, S.A.
- Bentley Systems, Inc.
- Cisco Systems, Inc.
- Conduent Business Services, LLC
- Cubic Corp.
- Hitachi, Ltd.
- Huawei Technologies Co., Ltd.
- IBM Corp.
- Intel Corp.
- Kapsch Group
- Oracle Corp.
- Parsons Corp.
- SAP SE
- Siemens AG
- Stantec Inc.
- Thales Group
- The Descartes Systems Group Inc.
- Toshiba Corp.
- Trimble, Inc.
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global smart transportation market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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