Smart Transportation Market - Business Outlook and Innovative Trends | Emerging Opportunities, Upcoming Products Demand

A consistent Smart Transportation Market report highlights CAGR value fluctuations during the forecast period of 2023-2030 for the market. To put marketplace clearly into the focus of clients, most up to date market insights and analysis are provided via this business report. The market research data included in the report is analysed and forecasted using market statistical and coherent models. The general market drivers analysed in this report are consumer demand, government policy and demand which makes consumer to buy product thereby leads to market growth and development. SWOT analysis is performed while generating the persuasive Smart Transportation Market report along with many other standard steps of researching, analysing and collecting data.

The winning Smart Transportation Market business report is generated based on the market type, organization size, availability on-premises, end-users’ organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific and Middle East Africa. By using integrated approaches and most up-to-date technology for the unmatched results this market research report has been generated. This market report also makes available statistics on the current state of the industry as a valuable source of guidance and direction for companies and investors interested in this market. The report also analyses the emerging trends along with major drivers, challenges and opportunities in the Smart Transportation Market.

Explore Further Details about This Research Smart Transportation Market Report https://www.databridgemarketresearch.com/reports/global-smart-transportation-market

Smart transportation systems have grown in popularity in the transportation industry, focusing on the design, inspection, and control of intelligent transportation to satisfy the needs of communities. To increase the efficiency of road traffic, these systems combine sensor technology with navigation systems. With the expanding investments in smart city initiatives, widespread use of ITS has already begun in the sector.

Data Bridge Market Research analyses that the smart transportation market was valued at USD 104.99 billion in 2021 and is further estimated to reach USD 243.70 billion by 2029, and is expected to grow at a CAGR of 11.1% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Smart transportation is a term that refers to one of the most important and ITS (Intelligent Transportation System) based applications. The vertical technology of the Internet of Things (IoT) is used to connect it wirelessly. The technology's major goal is to collect and control real-time data while also enhancing performance.

Drivers

Technological developments

The IoT architecture, which includes technologies such as data connectivity, cloud, mobility, and sensors, is critical to the effective deployment of smart transportation systems, further accelerating the growth of the smart transportation market.

Rise in government initiatives

Governments are putting more emphasis on creating smart cities. Governments all around the world are regulating the installation of factory-fitted telematics and safety systems in automobiles as a result of rising road safety concerns and rising auto thefts is further anticipated to propel the growth of the market.

Growing adoption of connected vehicles

Real-time traffic navigation allows vehicles to communicate with their surroundings, avoiding traffic jams and collisions will further contribute to the market growth.

Recent Development

In January 2020, Siemens and Arm, a worldwide semiconductor IP leader, collaborated to redefine design capabilities for complex electronic systems, accelerating the future of mobility. Through the partnership, automakers and suppliers will be able to develop and validate differentiated safety enabled systems, Integrated Circuits (ICs), and software solutions in the entire vehicle using Arm automotive IP and software within Siemens PAVE360 digital twin environment.

Global Smart Transportation Market Scope and Market Size

The smart transportation market is segmented on the basis of transportation mode and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Transportation Mode

Roadways
Railways
Airways
Waterways

On the basis of transportation mode, the smart transportation market is segmented into roadways, railways, airways and waterways. Roadways is further sub segmented into solutions and services. Solutions are sub-segmented into smart ticketing, parking management, traffic management, passenger information, freight information, vehicle telematics and others. Services is further sub segmented into consulting, deployment and integration, and support and maintenance. Railways is further sub segmented into solutions and services. Solutions is further sub segmented into smart ticketing, passenger information, freight information, rail traffic management, GIS tracking solutions and others. Services are is further sub segmented into consulting, deployment and integration, and support and maintenance. Airways is further segmented into solutions and services. Solutions is further sub segmented into smart ticketing, parking management, traffic management, passenger information, freight information, vehicle telematics and others. Services is further sub segmented into consulting, deployment and integration, and support and maintenance. Maritime is further sub segmented into solutions and services. Solutions is further sub segmented port operations management, vessel tracking, maritime software and others. Services is further sub segmented into consulting, deployment and integration, and support and maintenance.

Application

Mobility as a Service
Route Information and Route Guidance
Public Transport
Transit Hubs
Connected Cars
Video Management
Others

On the basis of application, the smart grid market is segmented into mobility as a service, route information and route guidance, public transport, transit hubs, connected cars, video management and others.

Some of the major players operating in the smart transportation market are:

Kapsch Traffic Com (Austria)
Gemalto NV (Netherlands)
Thales Group (France)
Alstom (France)
MSR-Traffic GmbH (Germany)
Cubic Corporation (U.S.)
WS ATKINS PLC (U.K.)
Cisco System, Inc. (U.S.)
Accenture (Ireland)
IBM (U.S.)
LG CNS (South Korea)
Indigo Group (India)
Toshiba Corporation (Japan)
Schneider Electric (France)
Siemens (Germany)

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This comprehensive report provides:

Improve strategic decision making
Research, presentation and business plan support
Show emerging Global Smart Transportation Marketopportunities to focus on
Industry knowledge improvement
It provides the latest information on important market developments.
Develop an informed growth strategy.
Build technical insight
Description of trends to exploit
Strengthen competitor analysis
By providing a risk analysis, you can avoid pitfalls that other companies may create.
Ultimately, you can maximize your company's profitability.

Why choose Data Bridge Market Research?

Modern technologies, such as artificial intelligence, to provide updated industry growth.
DBMR team provides clients with the top notch Smart Transportation Market research report.
Interaction with research scientists and development heads to understand the nature of the Smart Transportation Market more precisely.
24/7 availability of services.
Data collection from implementation vendors, service providers, and raw material suppliers to provide a clear perspective with Forecast period.

DBMR team uses very fair means to gather information that is scrutinized at every stage while structuring an influential Smart Transportation Market size

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