Global Smart Transportation Market by Solution (Traffic Management, Parking, Integrated Supervision), by Service (Professional, Business, Cloud) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

Global smart transportation market was valued at USD 56.25 Billion in 2016. It is expected to grow at a 22.5% CAGR over the forecast period. The main driver of market growth is the increasing emphasis on smart cities by governments. It is expected to increase its demand because it is an integral component of smart-city projects.

Many major issues that affect cities all over the world include poor quality and unsafe public transportation, increased road safety concerns and inadequate capacity of public transport, poor traffic management and overcrowding roads networks. Theft, poor road conditions, parking problems, poor road conditions and a lack of modal options (including pedestrian walks).

These systems will address the challenges presented by megacities in developing and developed areas. They also help to maintain smooth traffic flow, safety and an urban environment that is sustainable and eco-friendly.

Industry growth is expected to be impeded by long downtimes and the large capital needed for infrastructure replacement. New avenues are expected to be opened by rising demand in emerging economies like India, Brazil and China. There will be an increase in vehicles and a growing population. This will also lead to the need to upgrade existing systems. New growth opportunities are likely to be created by the growing number of smart cities, as well as rising adoption of Internet of Things. Industry growth is expected to be boosted by government initiatives to reduce greenhouse gas emissions.

Solution Insights

There are several key solutions on the market, including integrated supervision systems and parking management systems. The most sought-after segment was traffic management systems. These systems are used to manage traffic in cities and reduce traffic jams.

Smart signaling systems, traditional signals, video surveillance systems, route guide systems and intelligent video management system are all prominent traffic management options. Segment growth is expected to be accelerated by rising traffic congestion in major cities around the world due to a lack of parking space, increasing number of vehicles, poor traffic management and inefficient infrastructure.

The most popular solution on the market is. This intelligent system optimizes parking programs and provides drivers with convenient solutions. These systems include exit ticket readers, ticket dispensers at entry and exit points, and decentralized payment collection systems. The most well-known parking management systems include access control, security and level-wise vehicle counting. They also have guidance display systems and ticketing and revenue administration.

Service Insights

Based on service, the smart transportation market can be divided into professional, cloud and business services. In 2016, the market was worth USD 7.56 billion. This is due to the rising demand for large data storage, which will continue to be a dominant market segment over the forecast period.

Due to the increasing demand for consulting services, the professional services segment will also see significant growth. They enable the upgrade of existing systems to newer systems, which will drive demand for professional services.

Regional Insights

In 2015, North America was responsible for more than 27.0% global revenue. In the future, regional growth will be driven by rising government investment in transport infrastructure.

A number of government initiatives are expected to drive the fastest growth in the Asia Pacific market over the forecast period. China, India and South Korea are experiencing higher growth than Japan. Industry players will be able to take advantage of the Indian government's plan to build 100 smart cities.

Europe will offer significant opportunities for industry growth due to the rapid adoption of new technologies and growing traffic congestion in major cities. Directive 2010/40/EU was approved in July 2010 by member countries of the European Union to speed up deployment of innovative transport systems throughout Europe. These regulations by the government are expected to encourage industry growth in the coming years.

Smart Transportation Market Share insights

Accenture PLC, International Business Machine Corporation (IBM), Kapsch, Alstom, SA, Cisco System, Inc., and General Electric Company (GE) are key industry players. Indra Sistema S.A. is also a prominent vendor. Alstom provides transport solutions, including high-speed trains and metros as well as tramways and tramways. It offers signaling and infrastructure solutions, modernization, maintenance, and other services.

Cubic Corporation announced in March 2016 the pilot trial of NextAgent with EssenerVerkehrs AG (EVAG), in Germany. It combines a ticket vending machine and a virtual walk-up ticket shop with a video-linked phone center.

Cubic Corporation, a global mobility innovator center, opened in London in December 2015. It focuses on the development of technology that can address future transportation needs.

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional and country level and offers an analysis of industry trends for each sub-segment from 2015 to 2024. Up Market Research has divided the global smart transport market report by solution, region, and service.

• Smart Transportation Solution Outlook (Revenue, USD Billion, 2015 - 2024)

  • System for ticketing management

  • Parking management system

  • System of integrated supervision

  • Traffic management system

• Smart Transportation Service Outlook (Revenue, USD Billion, 2015 - 2024)

  • Cloud services

  • Services for businesses

  • Services of a professional

• Smart Transportation Regional Outlook (Revenue USD Billion, 2015-2024)

  • North America

  • Europe

  • Asia Pacific

  • RoW

Up Market Research published a new report titled “Smart Transportation Market research report which is segmented by Solution (Traffic Management, Parking, Integrated Supervision), by Service (Professional, Business, Cloud), By Players/Companies integrated supervision systems, ticketing management systems Traffic management systems formed the most popular segment in the market They are used for managing traffic in cities and minimizing traffic jams on roads, traffic management systems, parking management systems”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Smart Transportation Market Report Segments:

The market is segmented by Solution (Traffic Management, Parking, Integrated Supervision), by Service (Professional, Business, Cloud).

Smart Transportation Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Smart Transportation Market

Overview of the regional outlook of the Smart Transportation Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Smart Transportation Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Smart Transportation Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Traffic Management

                2. Parking

                3. Integrated Supervision

                1. Professional

                2. Business

                3. Cloud

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Smart Transportation Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
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Reasons to Purchase the Smart Transportation Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.