Know the latest trends and Insights of global smart transportation market
According to a new report published by Reports Monitor titled, “Global Smart Transportation Market, Growth Opportunities, Innovations and Forecast, 2018-2025,” the Smart Transportation Market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Smart Transportation also referred as intelligent transportation system refers to the integration of modern technologies such as artificial intelligence, machine-to-machine communications and others in the surface transportation system.
Growing urban populations has resulted in increased count of vehicles, hence resulting in traffic issues. This has assisted the demand for efficient transportation system hence propelling the market growth. Favorable policies and initiatives adopted by government in the improvement of transport infrastructure also support the growth of smart transportation market. However, high initial investment and long downtime is significantly hampering the market growth.
The Smart Transportation market report has been categorized in three sections, the first section entitled as market overview offers a holistic view of the market, coupled with its key trends, drivers, restraints and opportunities. Our analyst implements, several qualitative tools such as SWOT analysis, Porter’s five force analysis among other to interpret and represent key industry findings. The second section provides estimated market size and forecast for key market segments and regional market. The final part includes the study of competitors operating in the market, which includes their mergers/acquisitions, new product development and their financial overview.
The global smart transportation market is majorly segmented on the basis of solution and services. Based on the solution, market is bifurcated into: Hybrid Ticketing Management System, Parking Management & Guidance System, Integrated Supervision System, and Traffic Management System, while on the basis of services market is segmented into: consulting, deployment and integration and maintenance.
Global Smart Transportation market is analyzed across: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa). Immense investment in the transport infrastructure by public sector and presence of prominent players majorly influences the growth of North America and Europe. Increasing urban population coupled with expansion in IT sector majorly influence the growth of Asia Pacific regions.
The key industry participants in the market are: Accenture Plc, Siemens, IBM, Cisco Systems, GE Transportation, Xerox Corporation, Cubic Corporation, Thales S.A., Kapsch AG, Alstom SA, LG CNS Corporation, Indra Sistema S.A., Iteris Inc., TomTom NV, Garmin International Inc., and Q-Free ASA.
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