Global Smart Transportation Market - By Product Type (Advanced Transportation Management Systems, Advanced Transportation Pricing Systems and Advanced Public Transportation Systems); By Transportation Mode (Roadways, Railways, Airways and Maritime); By Solution {Software (Telematics, Parking Management, Smart Ticketing Solution, Ticket Management, Traffic Management, Security & Surveillance, Passenger Information System) and Services (Business Services, Professional Services, Cloud Services, Training & Consulting Services, Integration Services) Fore

About the Report

About the Report

Product Overview

Smart transportation is contemplated as the direct application of IoT proficiencies, and hence signifies the combined application of advanced technologies and management policies in the transportation networks. These technologies are intended at proposing advanced services associated with various means of transport and traffic management. It assists the users in being better briefed and makes safer and better use of transport systems. Smart transportation is an advanced methodology to propose and design roadways, which will offer better and safe transport solutions as compared to traditional transport networks. Presently, most of the cities around the globe are tackling many transportation systems issues, like unproductive traffic management systems, parking issues, poor road conditions, and others. A smart transportation system is assisting to knock down these issues, owing to its characteristics like synchronization between vehicle and roadside definite locations which will offer data regarding road conditions, traffic details, and parking proficiency data. Furthermore, a smart transportation system offers added aids, like dropped fuel utilization, accident alleviation, and proficient management of emergency services. 

Market Highlights

Global smart transportation market is anticipated to exceed USD 226,440 million by 2030 from USD 88,418 million in 2019 at a CAGR of 17.23% throughout the forecast period i.e. 2020-2030. The market is anticipated to grow on the back of rising technological innovations to enhance the customer experience. The growth of the smart transportation market is pushed by the time-and-fuel-saving capability of this infrastructure. Encouraging government schemes, like EU Directive on ITS, to operate road traffic proficiently, has a key role in stimulating the development of the worldwide smart transportation market. Furthermore, smart transportation systems can deliver improved safety and security by incorporating intelligent communication programs in the set-up, thus, enhancing the market growth. ITS also supports the growth and advancement of substitute green fuels like natural gas and biodiesel. Nevertheless, the need for high capital investment, owing to the complete renovation of the current transport system, and huge database requisite of the road network, which may not be achievable in developing regions, restrain market size.

Global Smart Transportation Market Opportunity Analysis

Source: Fatpos Global

Global Smart Transportation Market: Segments

The Railways segment to grow with the fastest CAGR of xx% during 2020-2030

Global smart transportation market is segmented by Transportation Mode into Roadways, Railways, Airways, and Maritime. Among these, the railway's segment is estimated to hold the largest market share of xx% in 2019. The drift in globalization & urbanization has boosted the demand for smart railway software, providing safety, trustworthy innovative services, and active proficiency to passengers. The growth in the number of rail accidents has also driven the need to execute smart sensor technologies in railway coaches that can spot faults in bearings, wheels, and railway tracks to prevent accidents. The government in various regions are also taking up schemes and executing innovative technologies for the growth of smart railway systems.

By Transportation Mode (in %), Global Smart Transportation Market, 2019

Source: Fatpos Global

 

The Passenger Information System segment to boost at fastest CAGR of xx% during 2020-2030

Global smart transportation market is segmented by Solution into Software (Telematics, Parking Management, Smart Ticketing Solution, Ticket Management, Traffic Management, Security & Surveillance, Passenger Information System) and Services (Business Services, Professional Services, Cloud Services, Training & Consulting Services, Integration Services, Support & Maintenance Services). Among these, the passenger information system segment is witnessed to hold the largest market share of xx% in the year 2019. The passenger information system is a significant connection between passengers and transit service providers. It offers real-time information on transit services, like present location, expected arrival and departure time, and the reasons for disturbances. A smart passenger information system consists of GPS-activated devices, strong wireless connections, and Computer-Aided Dispatch/Automatic Vehicle Location (CAD/AVL) program. The advancement of aging passenger information solutions with progressive passenger information solutions that offer real-time data about the transportation system is a key development factor for the smart passenger information systems and solutions.

By Solution (in %), Global Smart Transportation Market, 2019

Source: Fatpos Global

The On-premises segment to grow with the fastest CAGR of xx% during 2020-2030

Global market for smart transportation is divided on the basis of Deployment Mode into On-premises, Cloud, and Hybrid. Among these, the on-premises segment accounted for the largest market share of xx% in 2019 as the greater part of organizations are providing on-premises program as their customers are willing to spend more in buying the program instead of choosing a payment model. They also provide greater elasticity in terms of alignment, data, amendments, and integration management, pushing the growth of the market.

By Deployment Mode (in %), Global Smart Transformation Market,2019

Source: Fatpos Global

Global Smart Transportation Market: Drivers and Restraints

Driver: Rising Demand for Technological Advancements to Enhance Customer Experience

The effective application of smart transportation solutions is profoundly based on the numerous aspects of technologies, like data communication, cloud, flexibility, and sensors that collectively form the IoT structure. Speedy innovations in these spaces, in recent times, have facilitated improved connectivity of objects, causing the growth of smarter ecosystems. The introduction of Internet Protocol version 6 (IPV 6) allows almost every device in the real-world to get linked to the internet. This connectivity of objects stimulates a better understanding of the conduct of customers and thereby leading to improved decision-making. High-performance interacting technologies are consistently augmenting the skills of solutions and applications, like rail and road traffic management systems, rail operations management systems, incident management systems, travel assistance systems, and toll collection systems. Moreover, advancements in IoT technology are anticipated to push the growth of the smart transportation market. With the existing innovations, smart connectivity and control devices are projected to become highly intelligent and self-governing. Transportation systems will store information from several sources and share them with a consolidated control center by building use of the cloud.

Restraint: Lack of Standardized and Uniform Technology

Smart transportation systems consist of several components, like diverse technologies, hardware, and programs that are provided by various traders. This results in a lack of normalization and consistency in the solutions resulting in incompatibility issues. Further, various countries and regions have different communication and network standards and conventions that restrict traders from providing their solutions globally. Therefore, a mutual decorum for communication and workflow for traffic controlling systems is mandatory to support the worldwide implementation of traffic management solutions. Thus, the shortage of globally fastening orders, protocols, and stipulations for the arrangement of traffic controlling solutions act as a restraint for market growth. National orders, protocols, and conditions for smart transportation systems can restrict the implementation of smart transportation solutions. This facts to the need for a mutual convention for workflow and communication in smart transportation solutions to support worldwide implementation.

Global Smart Transportation Market: Regions

Europe to surge at the highest CAGR of xx% during 2020-2030

Region-wise, the market for smart transportation across the globe is segmented into North America, Latin America, Europe, Middle East & Africa, and the Asia Pacific. Among these, Europe is witnessed to constitute xx% of the total market share in the year 2019. The region is the most progressive region on the basis of technological implementation and structural growth. It is one of the largest sponsors of the smart transportation market. The European regions have been spending mainly in the renovation and promotion of rail architecture. Social and trade contracts across the European Union (EU) regions have stimulated large-scale, cross-border trade and passenger traffic in Europe. High growth is estimated in the region, mainly in the communication technology, as the European Telecommunications Standards Institute (ETSI) has built a distinct board to emphasis on Machine-to-Machine (M2M) communication confidentiality regulation and high trading criteria.

By Region (in %), Global Smart Transportation Market, 2019

Source: Fatpos Global

Global smart transportation market is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
  • MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
  • APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC

 

Global Smart Transportation Market: Key Players

  • Huawei Technologies Co. Ltd.Harris Corporation
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • IBM
  • Cubic Corporation
  • Accenture
  • Toshiba
  • Amadeus IT Group
  • Bombardier Inc.
  • Cisco Systems
  • Siemens AG

 

The market report on global smart transportation also contains the following in-depth analysis:

  • Global Smart Transportation Market Segments:Global Smart Transportation Market Dynamics
    • By Product Type
      • Advanced Transportation Management Systems
      • Advanced Transportation Pricing Systems
      • Advanced Public Transportation Systems
    • By Transportation Mode
      • Roadways
      • Railways
      • Airways
      • Maritime
    • By Solution
      • Software
        • Telematics
        • Parking Management
        • Smart Ticketing Solution
        • Ticket Management
        • Traffic Management
        • Security & Surveillance
        • Passenger Information System
      • Services
        • Business Services
        • Professional Services
        • Cloud Services
        • Training & Consulting Services
        • Integrated Services
        • Support & Maintenance Services
    • By Deployment Mode
      • On-premises
      • Cloud
      • Hybrid
    • By Region
      • North America
      • Latin America
      • Europe
      • Middle East & Africa
      • Asia Pacific
  • Global Smart Transportation Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies Involved in the Market
  • Value Chain of the Market
  • Market Drivers and Restraints

 

FAQs on Global Smart Transportation Market

  • Which segment is anticipated to hold the largest market share?
  • At what CAGR is the market anticipated to grow between 2020 and 2030?
  • Who are the key players in the worldwide smart transportation market?
  • What could be the challenging factors for the growth of the global smart transportation market?
  • What are the growth drivers for the market for smart transportation across the globe?

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