The global smart transportation market size is expected to grow from USD 94.5 billion in 2020 to USD 156.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 10.6% during the forecast period during. The major growth drivers for the market are the technological advancement to enhance customer experience, growing government initiatives and PPP models for smart transportation, rising urban population and high demographic rates, and growing adoption of IoT and automation technologies to enhance technological optimization.
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The rise in the number of COVID-19 cases has caused a major blow to the transportation industry. With most governments enforcing isolation practices, there is a substantial decline in the transportation industry. The US is experiencing the early stages of the pandemic; however, a drop-in passenger numbers can already be seen. In New York, ridership on the subway is dramatically down; March 11 saw 948,000 fewer trips than an average weekday in January. To stand up to the challenges, governments are taking several initiatives. In countries, such as China and the US, all sorts of toll and fare collections have been stopped. China is also putting in place a no-stop, no-check, toll-free policy for vehicles transporting emergency supplies and essential personnel. This will reduce the burden of logistics companies that are already under severe pressure. Such initiatives will also ensure the smooth and timely delivery of essential supplies. Some of the initiatives include the conversion of parking spaces into restaurant food pick-up zones, waiving off transit fares, and converting car lanes for pedestrians and cyclists.
Major smart transportation vendors include Thales Group (France), Huawei Technologies Co., Ltd. (China), Siemens AG (Germany), IBM Corporation (US), Cisco Systems, Inc. (US), SAP (Germany), Cubic Corporation (US), Alstom (France), Bombardier Inc. (Canada), Toshiba (Japan), Harris Corporation (US), Saab AB (Sweden), Veson Nautical (Massachusetts), BASS Software (Norway), Bentley Systems (US), Indra Sistemas (Spain), Trimble (US), TomTom International BV. (Netherlands), Amadeus IT Group SA (Spain), Conduent (US), Kapsch (Austria), Hitachi Ltd. (Japan), Descartes (Canada), Accenture (Ireland), and DNV GL (Norway). These market players have adopted various growth strategies, such as partnerships, collaborations, and new product launches, to expand have been the most adopted strategies by major players from 2018 to 2020, which helped companies innovate their offerings and broaden their customer base.
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Huawei (China) is another smart transportation solution and services provider across the globe. Huawei offers a wide range of solutions for transportation, which include the Digital Urban Rail Solution that provide fully automatic train operations and intelligent applications. The Urban Rail Cloud solution builds a secure, and smart multi-line cloud platform, which enables train-to-ground wireless communication network. The company focuses on both the organic and inorganic growth strategies to improve its place in the smart transportation market. For instance, in February 2020, Huawei and South Africas Rain collaborated to build the first 5G transport network using Huawei’s Optical cross-connect (OXC) and 200G solution. The collaboration leverages Huaweis all-optical switching product, OXC (P32), to build a metro optical transport network with minimal footprint, high provisioning efficiency, simple Operations and Maintenance (O&M), and high scalability to address the medium- and long-term challenges brought by 5G and revolutionary services. In October 2019, Huawei unveiled the iSitepower-T Open Road Tolling solution. The new solution provides highly reliable and intelligent power supplies to enable Open Road Tolling (ORT) implementation on highways.
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 50)
1.1 INTRODUCTION TO COVID-19
1.2 COVID-19 HEALTH ASSESSMENT
FIGURE 1 COVID-19: THE GLOBAL PROPAGATION
FIGURE 2 COVID-19 PROPAGATION: SELECT COUNTRIES
1.3 COVID-19 ECONOMIC ASSESSMENT
FIGURE 3 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020
1.3.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT
FIGURE 4 CRITERIA IMPACTING THE GLOBAL ECONOMY
FIGURE 5 SCENARIOS IN TERMS OF RECOVERY OF THE GLOBAL ECONOMY
1.4 OBJECTIVES OF THE STUDY
1.5 MARKET DEFINITION
1.5.1 INCLUSIONS AND EXCLUSIONS
1.6 MARKET SCOPE
1.6.1 MARKET SEGMENTATION
1.6.2 SMART TRANSPORTATION MARKET: SOLUTIONS AND SERVICES
1.6.3 REGIONS COVERED
1.6.4 YEARS CONSIDERED FOR THE STUDY
1.7 CURRENCY
TABLE 1 UNITED STATES DOLLAR EXCHANGE RATE, 2017–2019
1.8 STAKEHOLDERS
2 RESEARCH METHODOLOGY (Page No. - 61)
2.1 RESEARCH DATA
FIGURE 6 GLOBAL SMART TRANSPORTATION MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.2 PRIMARY DATA
2.1.2.1 Breakup of Primary Interviews
FIGURE 7 BREAKUP OF PRIMARY INTERVIEWS: BY COMPANY, DESIGNATION, AND REGION
2.1.2.2 Key Industry Insights
2.2 DATA TRIANGULATION
2.3 MARKET SIZE ESTIMATION
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY─ APPROACH 1 (SUPPLY SIDE): REVENUE OF SOLUTIONS/SERVICES OF THE MARKET
FIGURE 9 MARKET SIZE ESTIMATION METHODOLOGY ─ APPROACH 1 BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE OF ALL SOLUTIONS/SERVICES OF TRANSPORTATION MODES IN THE MARKET
FIGURE 10 MARKET SIZE ESTIMATION METHODOLOGY ─ APPROACH 2 TOP-DOWN (DEMAND SIDE): SHARE OF THE MARKET THROUGH OVERALL TRANSPORTATION SPENDING
2.4 MARKET FORECAST
TABLE 2 FACTOR ANALYSIS
2.5 ASSUMPTIONS FOR THE STUDY
2.6 LIMITATIONS OF THE STUDY
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