Global Smart Transportation Market by Product Type; by Application; by Transportation Mode; by Region Global forecasts to 2021-2027

Date : Sep 2021

|

Report ID : 216

|

Category : Information Technology

|
Report Format:  PDF EXCEL PPT WORD

The global smart transportation market was valued at US$ 95.1 bn in 2020 and expected to reach US$ 155.1 bn by 2027, growing at a CAGR of 11.2% during the forecast period.

The Global Smart Transportation Market Definition:

Smart transportation refers to the integration of management strategies and modern technologies in the transportation systems. These technologies aim at providing innovative services relating to several modes of traffic and transport management by continuously monitoring, evaluating, and managing transportation systems. Smart transportation system help users to be better informed and make smarter and safer use of transport networks. Smart Transportation Market

The Global Smart Transportation Market Dynamics:

The growing adoption of advanced technologies such as IoT combined with machine learning, artificial intelligence and bigdata analytics is majorly driving the growth in the smart transportation market. The increased adoption of these advanced technologies in smart transportation is helping users to avoid unnecessary waiting at jam-packed traveling stations by facilitating them with detailed transportation records like real-time arrival and departure information. The use of these technologies in automotive is also helping in enhancing the user experience and convenience by performing various functions such as switching lanes, staying in the lane, and following the GPS to get to the final destination. For instance, Tesla’s autopilot is capable to check the meeting schedule and drive the user to their final destination. These technologies in automotive provide the creation of several advanced driver assistance systems (ADAS) features in a vehicle such as guiding, parking and driving the vehicle. Owing to these benefits, the rising adoption of these advanced technologies in the transportation industry is expected to positively drive the smart transportation industry.

Moreover, stringent government regulations to improve the safety in vehicles due to growing road accidents is further expected to propel the growth in the smart transportation market. The Global Status Report on Road Safety and Accident 2018, shows that the deaths due to road traffic crashes have increased to 1.35 million a year which is approximately 3,700 people dying from road accidents every day across the globe. Due to the growing road accident death rate and auto thefts, many nations including United States, Russia, Europe, Brazil, and China among others have mandated the installation of factory-fitted safety and telematics devices in automotive, which is thereby driving the smart transportation market.

The incorporation of advanced technologies such as AI in the transportation sector has facilitated in providing predictive analytics that is useful in decreasing human errors on the road. This feature helps vehicles in predicting the movements of objects surrounding the vehicle and thus reduces the chances of accidents. Further, smart transportation IoT solutions added to smart city projects have enabled government organizations to cater to efficient and safe transport infrastructure in cities by enhancing transportation and community resources for everyone.

The Global Smart Transportation Market Segmentation:

  • By Product Type
    • Advanced Traveller Information Systems (ATIC)
    • Advanced Transportation Management Systems (ATMS)
    • Advanced Transportation Pricing Systems (ATPS)
    • Advanced Public Transportation Systems (APTS)
    • Cooperative Vehicle Systems
  • By Application
    • Traffic Management
    • Road Safety and Security
    • Parking Management
    • Public Transport
    • Automotive Telematics
    • Freight
    • Other Applications
  • By Transportation Mode
    • Roadways
    • Railways
    • Airways
    • Maritime
  • By Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

Smart Transportation Market

Company Profiles and Competitive Intelligence

The key players operating in the smart transportation market are:

  1. IBM Corporation
  2. Kapsch TrafficCom
  3. Cisco Systems, Inc.
  4. Cubic Corporation
  5. Siemens AG
  6. Xerox Corporation
  7. Iteris, Inc.
  8. LG CNS Co. Ltd.
  9. Indra Sistemas
  10. Thales Group
  11. Oracle Corp.
  12. Intel Corp
  13. Parsons Corp.
  14. Telit
  15. Biz4Intellia
  16. Trapeze Software
  17. TransCore Inc.
  18. Huawei Technologies Co., Ltd
  19. SAP
  20. Alstom
  21. Bombardier Inc.
  22. Toshiba
  23. Harris Corporation
  24. Saab AB
  25. Trimble

The unique insight provided by this report also includes the following:

  1. In-Depth Value Chain Analysis
  2. Sector Snapshot
  3. Opportunity Mapping
  4. Key Players Positioning Matrix
  5. Strategies Adopted-Benchmarking Heat Map
  6. Market Trends
  7. Regulatory Scenario
  8. Covid-19 Impact Analysis
  9. Product Comparison
  10. Pre & Post COVID 19 Impact On Smart Transportation Market
  11. Competitive Landscape

Based on application, the traffic management segment held the largest share in 2020 to overcome several challenges in the transportation sector such as traffic congestion, accidents, and pollution in many urban areas

Based on application, the smart transportation market is segmented into road safety and security, traffic management, parking management, automotive telematics, freight, public transport, and other applications. Among these, the traffic management segment held the largest share in the year 2020 and is expected to hold a similar position during the forecast period. The growth of this segment is mainly attributed to the increasing challenges in the transportation sector such as traffic congestion, accidents, and pollution in many urban areas. Therefore, to overcome these challenges, several nations across the globe are increasingly deploying traffic management solutions. For instance, in January 2018, Chinese traffic management authorities in partnership with Didi Chuxing, a China-based firm, announced the launch of a smart city traffic management solution “DiDi Smart Transportation Brain”. This smart transportation solution uses artificial intelligence to facilitate traffic flow measurements and traffic management programs for system assessments and maintenance schedules. Additionally, in 2018, the Indian government approved funding amounting to USD 8.9 Bn for using AI to monitor violations and decongest traffic.

Based on transportation mode, roadways transportation mode is expected to hold the largest share in the smart transportation market during the forecast period due to the increasing demand for sustainable and improved roadways

Based on transportation mode, the smart transportation market is segmented as railways, roadways, maritime, and airways. Among these, roadways transportation mode is expected to hold the largest share in the smart transportation market during the forecast period. The increasing demand for sustainable and improved roadways along with the rising need for reducing traffic congestion and safer roads are propelling the smart transportation market growth in this segment. In addition, several government initiatives for smart roadways to reduce carbon emissions are also helping in the growth of this segment. For instance, in 2018, the U.K. government introduced its “Road to Zero Strategy” which aims for at least 50% of new car sales in the country to be ultra-low emission by 2030. The strategy also plans to expand green infrastructure across the country and reduce emissions from the existing vehicles on the UK’s roads, and drive the uptake of zero-emission in cars, trucks, and vans. Such favourable strategies are supporting the growth of the roadway transportation mode sector and thereby driving the smart transportation industry growth.

Based on region, the Asia-Pacific region is expected to witness the fastest growth in the smart transportation industry during the forecast period due to several smart city development initiatives taken by the government in this region

Based on region, the smart transportation market is fragmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, the Asia-Pacific region is expected to witness the fastest growth in the smart transportation industry during the forecast period. The growth in the region is majorly influenced by countries such as India and China. The government in these countries is implementing various initiatives for smart city development which is thereby positively impacting the smart transportation industry growth. For instance, in 2015, India launched its Smart Cities Initiative (SCI) to develop 100 smart cities across the country making them citizen-friendly and sustainable. In addition, China's smart cities initiatives plan to move 250 million people to its new megacities by 2025. As smart transport is an integral part of every smart city, increasing investments in smart city initiatives are projected to drive the smart transportation market size.

The report also provides an in-depth analysis of market dynamics such as drivers, restraints opportunities and challenges

Drivers

  • The growing adoption of advanced technologies such as IoT, machine learning, artificial intelligence and bigdata analytics in transportation industry
  • Stringent government regulations to improve the safety in vehicles
  • Increasing environmental concerns regarding greenhouse emissions
  • Rising smart cities projects

Restraints

  • Need for heavy investment for replacing existing infrastructure with smart technologically advanced systems
  • Lack of standardized and uniform technology

Opportunities

  • Growing passenger rate in railways, roadways and airways
  • Autonomous vehicles to provide growth opportunities for smart transportation solution providers

Challenges

  • Complexities in integration over legacy systems and networks

Note: Challenges along with in-depth market dynamics analysis is mentioned in the report.

The report also provides an in-depth analysis of key market trends

Sr.No Trends Impact
1 The increasing demand for autonomous and semi-autonomous cars is positively driving the smart transportation market.  These vehicles offer several benefits such as traffic reduction, decreased travel span, increased lane capacity, reduced running and maintenance costs, and lesser road accidents. These benefits are rising the demand for autonomous and semi-autonomous and are thereby expected to positively drive the smart transportation industry Positive
2 The growing air trafficking rate is expected to propel the growth of the smart transportation market. According to the report of The International Air Transport Association (IATA) published in April 2018, air transport passenger is projected to double and reach 8.2 Bn by 2037. Smart transportation systems facilitate safety spacing in aircraft by providing optimal aircraft movements and parking positions based on the planned and actual traffic. Owing to this, the growing air trafficking rate is expected to increase the need for smart transportation solutions in the airways and therefore improve the smart transportation market demand Positive

 

The report also provides an in-depth analysis of recent News Developments and Investments

  • In November 2020, NEC, a Japanese multinational information technology and electronics corporation, signed a strategic agreement with Environment Canterbury and the Christchurch City Council in New Zealand. This agreement is focused to help in evolving their existing bus network into a smart transportation network by utilizing modern real-time information (RTI) system for accurately tracking and informing travellers of buses and journeys in their network.
  • In December 2019, Thales Group, a French multinational company that designs and builds electrical systems signed strategic agreement MTR Corporation, a Hong Kong-based company. This agreement is expected to facilitate the company in expanding the Central Control and Communication Systems for the Sydney Metro to City and Southwest (SMCSW) project.

 


Frequently Asked Questions (FAQs)

How big is the global Smart Transportation market?

The Smart Transportation Market was valued at USD 98.81 Bn in 2020, and is expected to reach USD 206.71 Bn by 2027.

What is the estimated market growth rate of Smart Transportation industry?

The Smart Transportation Market is estimated to grow at a compound annual growth rate (CAGR) of 10.9% during the forecast period.

Which is the fastest growing region in the smart transportation market?

Asia-Pacific region is expected to be the fastest growing region in the Smart transportation market during the forecast period

Which region has dominated in the smart transportation market in 2020?

In the year 2020, Europe has dominated the smart transportation market.

Who are the key players in the smart transportation industry?

A few key players in the smart transportation industry includes Cisco Systems, Inc., IBM Corporation, Kapsch TrafficCom, Cubic Corporation, Siemens AG, Iteris, Inc., LG CNS Co. Ltd., Xerox Corporation, Thales Group, Trapeze Software, Indra Sistemas, TransCore Inc. and among others

Related Reports

Need specific market information ?

Ask for free product review call with the author

Share your specific research requirements for a customized report

Request for due diligence and consumer centric studies

Request for study updates, segment specific and country level reports

  1. Introduction
    1. Product outline
    2. Smart transportation market definition
    3. Different types of smart transportation  
    4. Analysis of smart transportation ecosystem
    5. Supply chain analysis
    6. Covid -19 impact
    7. Market dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Threats
    8. Technology overview
    9. Patent analysis
  2. Technology and Regulatory Landscape for Smart Transportation    
    1. Regulations and standards
  3. Smart Transportation Market Pricing Analysis
    1. Prices of smart transportation   
  4. Smart Transportation Market by Product Type   
    1. Advanced Traveller Information Systems (ATIC)
    2. Advanced Transportation Management Systems (ATMS)
    3. Advanced Transportation Pricing Systems (ATPS)
    4. Advanced Public Transportation Systems (APTS)
  5. Smart Transportation Market by Application
    1. Traffic Management
    2. Road Safety and Security
    3. Parking Management
    4. Public Transport
    5. Automotive Telematics
    6. Freight
    7. Other Applications
  6. Smart Transportation Market by Transportation Mode
    1. Roadways
    2. Railways
    3. Airways
    4. Maritime
  7. Regional Analysis
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. UK
      3. France
      4. Norway
      5. Italy
      6. Spain
      7. Netherlands
      8. Rest Of Europe
    3. Asia Pacific
      1. China
      2. India
      3. Japan
      4. Australia
      5. New Zealand
      6. Rest Of Asia Pacific
    4. Middle East and Africa
    5. South America
  8. Key Strategic Insights
    1. New applications
    2. Emerging technologies
    3. Opportunity mapping
    4. Critical success factors
    5. Environmental impact and sustainability issues
    6. Consumer preferences
  9. Key Market Trends / Recent Developments
  10. Competitive Scenario
    1. Competitive Strategies of Key Players
      1. Mergers and Acquisitions
      2. Investments
      3. Joint Ventures
      4. New Product launches
    2. Strength of product portfolio
    3. Ranking of Key Players
    4. Presence of players by Geographies
  11. Key Global Players
    1. IBM Corporation
    2. Kapsch TrafficCom
    3. Cisco Systems, Inc.
    4. Cubic Corporation
    5. Siemens AG
    6. Xerox Corporation
    7. Iteris, Inc.
    8. LG CNS Co. Ltd.
    9. Indra Sistemas
    10. Thales Group
    11. Oracle Corp.
    12. Intel Corp
    13. Parsons Corp.
    14. Telit
    15. Biz4Intellia

Choose License
Buy Now
Why Choose AllTheResearch?
  • Monthly market updates for 6 months
  • Online access of reports
  • Options to buy sections of report
  • Critically analysed research on “Quadrant Positioning” of your company.
  • Syndicated report along with a supplementary report with objective-based study
  • Get profiled in the reports. Expanding your visibility across our network of readers and viewers
  • We provide local market data in local language on request
  • A complementary co-branded white paper
  • Flat consulting fee based exclusive studies. Consult at the price of syndicate
  • Access to expert team for free transaction advisory service.


Quick Inquiry
Follow Us
Choose License
Buy Now