Smart Transportation Market Analysis, Regional Outlook, Business Landscape 2027

 Global Smart Transportation Market - Overview

Rapid automation and technical advancements in automotive industry have encouraged the manufacturers to integrate smart technology in their transportation system. Moreover, with the advent of industrialization, the developing economies are observing a shift of employees from rural areas to urban areas. These factors are attributing to the growth of Smart Transportation Market altogether.

Smart Transportation System Market is estimated at USD 273 Billion by 2022. Smart-transport is a revolutionary technology.

Smart transportation integrates infrastructure and vehicles with communication, control, sensing and detecting technologies to analyse the traffic in real-time thus, mitigating the risks involved in traffic safety. The adoption of smart transportation is also expected to result in reduced vehicle emissions thereby, increasing the efficiency of transportation systems. Over the past few years, countries have witnessed an increase in the traffic which is directly affecting the probability of road accidents. Smart transportation is expected to address all the aspects of transportation systems including smart parking, smart driving, pollution, and security system. These aspects are expected to result in higher efficiency of transport system, with reduced commute time, and less traffic accidents.

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Industry News

November 2018, Kapsch TrafficCom acquired eTrans Systems.

eTrans is a Virginia-based provider of connected and autonomous vehicle (CAV) solutions for safety and mobility applications. Through this acquisition, the product portfolio of eTrans will be integrated in Kapsch TrafficCom’s V2X connected vehicle solution for rapid development of connected and autonomous vehicles.

October 2018, VIA Metropolitan Transit launched smart transit initiatives to make bus transport easier for the residents of San Antonio.

VIA introduced new cell phone capabilities and digital kiosks that are expected to be deployed at 30 locations in the city. The agency also launched its mobile application, VIA goMobile, to enables users find bus route information and pay for rides.

October 2018, Gores Holdings II Inc. acquired Verra Mobility, one of the leading providers of tech-enabled smart transportation solutions.

Verra Mobility provides smart mobility solutions to commercial fleets and rental car companies. Its solutions include managing tolling transactions and violations for vehicles, and operating red-lights, speed, and school bus stop arm safety cameras. This acquisition resulted in renaming Gores Holdings II to Verra Mobility Corporation.

Key Players

The prominent players in the Smart Transportation Market are - Cisco Systems, Inc. (U.S.), General Electric Company (U.S.), Alstom SA (France), Cubic Corporation (U.S.), Kapsch (Austria), IBM Corporation (U.S.), Thales Group (France), Siemens AG (Germany), AECOM (U.S.), Accenture Plc (Ireland), LG CNS Co. Ltd. (Korea), TomTom International B.V. (Netherlands) among others.

Market Segments:

Smart Transportation Market for segment on the basis of Solution and service.

Smart Transportation Market by Solution:

  • Traffic management solution
  • Smart ticketing solution
  • Parking management solution
  • Integrated supervision solution
  • Passenger information solution
  • Insurance telematics solution

Smart Transportation Market by Service

  • Consulting Service
  • Deployment and Integration
  • Support and Maintenance

Regional Analysis:

The regional analysis of Smart Transportation market is being studied for region such as Asia pacific, Americas, Europe and Rest of the World. Rapid digitization across different industries has driven the market of Smart Transportation in European region. European region is expected to dominate in the Smart Transportation market by the forecast period owing to digital transformation, technological advancements, and increasing adoption of smart connected devices. The study reveals that government initiatives towards smart transportation in the European region are driving the smart transportation market in this region. North America region followed by Europe is expected to grow significantly by the forecast period. Asia-Pacific countries like China, Japan, India and Korea are expected to show a steady growth in the Smart Transportation Market.

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Intended Audience

  • Public transportation authorities
  • Networking and Communication Service Providers (CSPs)
  • Cloud service providers
  • Smart cities stakeholders
  • Investors and consultants
  • System Integrators
  • Government Organizations
  • Research/Consultancy firms
  • Technology solution providers
  • Transport agencies


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