Global Smart Transportation Market, By Solution (Traffic Management Solution, Passenger Information Solution, Smart Ticketing Solution, Parking Management Solution, Integrated Supervision Solution, Insurance Telematics Solution), Service (Cloud Services, Professional Services), Transportation Mode (Roadways, Railways, Airways, Waterways), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Industry Trends and Forecast to 2028.
The Smart Transportation is one of the most crucial and equipped with ITS (Intelligent Transportation System) based applications. It is connected wirelessly with Internet of Things (IoT) vertical technology. The main purpose is to collect data and controlling the real-time conditions, to improve performance and others. The smart sensor offers a wide range of applications in road transport including infrastructure, traffic management, mobility management, car navigation, container management systems, automatic number plate recognition and security CCTV systems applications. Global smart transportation market is expected to register a healthy CAGR of 19.7% in the forecast period of 2020 to 2028.
Smart Transportation Market is basically an application of Internet of Things (IoT) combined with various sensors, electronic components, transport infrastructure and recording equipments. This concept of smart transportation is combined with ITS (Intelligent Transportation System) to provide services like traffic management, mobility management, car navigation, container management systems, automatic number plate recognition and security CCTV systems.
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Segmentation: Global Smart Transportation Market:
The Smart transportation market is segmented into four notable segments which are solution, services and transportation
On the basis of solution, the market is segmented into passenger information solution, traffic management solution, parking management solution, smart ticketing solution, insurance telematics solution and integrated supervision solution. The passenger information solution is sub-segmented into network connectivity and multimedia information & entertainment. The traffic management solution is sub-segmented into route guidance, toll collection & revenue management, smart signaling and predictive traffic analytics. The parking management solution is sub-segmented into ticketing and revenue management, access control, automated parking guidance and slot management.Traffic management solution segment is growing at the highest CAGR of 20.3% in the forecast period of 2019 to 2026.
Traffic management solution segment to grow with the highest CAGR due to increasing demand for monitor various roadways as well as controlling traffic congestion.
On the basis of service, the market is segmented into professional services and cloud services. Cloud services segment is growing at the highest CAGR of 20.2% in the forecast period of 2019 to 2026.
Cloud services segment is expected to grow with the highest CAGR due to increasing demand for managing traffic control with the help of cloud based intelligent transportation systems.
On the basis of transportation, the market is segmented into roadways, railways, waterways and airways.Airways segment is growing at the highest CAGR of 20.4% in the forecast period of 2019 to 2026.
Airways segment is expected to grow with the highest CAGR due to growing developments and high usage of smart technologies in areas such as North America, Europe and other regions.
Competitive Analysis: Global Smart Transportation Market:
Some of the prominent participants operating in this market are Kapsch Traffic Com, Gemalto NV, Thales Group, Alstom, Schneider Electric, Siemens Ltd., MSR-Traffic, Cubic Corporation, WS ATKINS PLC, Cisco System, Inc., Accenture, IBM, LG CNS, Indigo Group and Toshiba Corporation and others.
Product Launch:
In November, Cisco system, Inc delivered business intelligence IoT solution that is beneficial in launching smart city projects.
In March, Cisco system, Inc. introduced transport network modernization for deploying older transport network and re-engineering network configuration.
In September, Cisco system, Inc. launched new transportation solution that is beneficial for delivering new passenger services, improve the traffic conditions and provides a safe environment to the users.
Table of Content:
Market Overview: The report begins with this section where product overview and highlights of product and application segments of the Smart Transportation Market are provided. Highlights of the segmentation study include price, revenue, sales, sales growth rate, and market share by product.
Competition by Company: Here, the competition in the Worldwide Smart Transportation Market is analyzed, by price, revenue, sales, and market share by company, market rate, competitive situations Landscape, and latest trends, merger, expansion, acquisition, and market shares of top companies.
Company Profiles and Sales Data: As the name suggests, this section gives the sales data of key players of the Smart Transportation Market as well as some useful information on their business. It talks about the gross margin, price, revenue, products, and their specifications, type, applications, competitors, manufacturing base, and the main business of key players operating in the Smart Transportation Market.
Market Status and Outlook by Region: In this section, the report discusses about gross margin, sales, revenue, production, market share, CAGR, and market size by region. Here, the Smart Transportation Market is deeply analyzed on the basis of regions and countries such as North America, Europe, China, India, Japan, and the MEA.
Application or End User: This section of the research study shows how different end-user/application segments contribute to the Smart Transportation Market.
Market Forecast: Here, the report offers a complete forecast of the Smart Transportation Market by product, application, and region. It also offers global sales and revenue forecast for all years of the forecast period.
Research Findings and Conclusion: This is one of the last sections of the report where the findings of the analysts and the conclusion of the research study are provided.
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The key questions answered in this report:
What will be the Market Size and Growth Rate in the forecast year?
What is the Key Factors driving Laser Smart Transportation Market?
What are the Risks and Challenges in front of the market?
Who are the Key Vendors in Smart Transportation Market?
What are the Trending Factors influencing the market shares?
What is the Key Outcomes of Porter’s five forces model
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