Skip to main content

Smart Transportation Market Progress Prospects, Regions And Prediction 2026

Smart transportation system are increasingly being adopted in order to reduce congestion, improve traffic management, and reduce environmental impact of greenhouse gasses emitted by vehicles. These systems have a range of applications in transportation such as electronic toll collection, ramp meters, traffic light cameras, traffic-signal coordination, transit signal priority, and traveler-information systems. These are also used in fleet monitoring, tolling management, ticket management, telematics and traffic monitoring. Smart transportation systems aids in improving safety and security and offers real-time information related to traffic and routes and this one of the major drivers for growth of the market.


One of the key factors responsible for driving the market growth is increasing vehicle parc worldwide. According to statistics by Organisation Internationale des Constructeurs d'Automobiles, globally, 93,856,388 units of vehicles were sold in 2016, which is 4,171,780 units over 2015 total global sales. Moreover, rising need for efficient traffic management, increasing need for public safety and security, and environmental concerns over emission of greenhouse gases, along with rise in number of smart cities. For instance, in 2015 Government of India launched "100 Smart Cities Mission".  

However, high initial investment for replacement of present infrastructure with advanced smart transportation solutions and requirement of large database for road network are factors expected to adversely affect the global smart transportation market growth.

Smart Transportation Market Taxonomy
On the basis of mode of transportation, the global smart transportation market is segmented into:
  • Railways
  • Roadways
  • Airways
  • Seaways
On the basis of services, the global smart transportation market is segmented into:
  • Consulting
  • Integration and Deployment
  • Maintenance & Support
On the basis of solution, the global smart transportation market is segmented into:
  • Integrated Supervision Solution
  • Traffic Management Solution
  • Parking Management Solution
  • Smart Ticketing Solution
  • Others (Passenger Information Solution, Insurance Telematics Solution) 
Asia Pacific market is expected to exhibit strong growth potential over the forecast period

North America accounted for the largest share in the global smart transportation market in 2016. U.S. is the major growth engine in North America market. This is owing to increasing initiatives from the U.S. government towards improvement of transportation facilities and implementation of intelligent transportation systems (ITS). For instance, the America's Surface Transportation Act or "FAST Act" was passed in 2015, in order to solve congestion issues, enhance transportation within the country, improve working efficiencies in transportation systems and commercial vehicles, and minimize vehicle emissions.

Asia Pacific market is expected to exhibit highest CAGR over the forecast period and this is due to increasing deployment of smart city and smart infrastructure projects in this region. China, Japan, India, and South Korea are the major growth engines in the region. For instance, in 2015 Government of India launched "100 Smart Cities Mission".


Major players operating in the global smart transportation system market are Accenture, Plc, Amano Corporation, Alstom SA, Cisco Systems Inc., Cubic Corporation, Gemalto N.V., Indigo Infra S.A., Inrix Inc., International Business, Machines Corporation (IBM), Kapsch Trafficom GmbH, Msr-traffic GmbH, and Siemens AG.

Labels:

Comments

Post a Comment

Popular posts from this blog

Top Technologies Shaping Future of Cybersecurity!!

The threat of Cyber attacks are growing day by day across the world hence led big concern on  Cybersecurity. Cyber security includes- Application security, Information security, Network security, Disaster recovery/business continuity planning, Operational security and End-user education Types of cybersecurity threats: Ransomware  Malware  Social engineering Phishing  Artificial Intilligence and Blockchain are the Technologies that will help the cybersecurity to boost. AI-based attacks that will operate completely independently, adapt, make decisions on their own and more.  Blockchains are moving from the realm of just fueling cryptocurrencies like Bitcoin to providing smart contracts, identity management, and multiple ways of proving integrity of data. They may also hold the key to defending against IoT attacks.
Post a Comment
Read more

Transit Cards Market to Witness Enhanced Growth During 2018-2026

A transit card is a train, bus or metros pass or ticket that provides users the access to transportation services, either as part of a specific number of pre-purchased trips or boundless trips within a limited timeframe. Growing population and urbanization in emerging economies worldwide is increasing the demand for mobility. According to Population Reference Bureau Organization, in 2016, 7,418 million people accounted for the global population up from 7,336 million in 2015. For sample copy, download PDF @ https://www.coherentmarketinsights.com/insight/request-pdf/663 This increasing population has in turn increased demand for public transportation services in various countries worldwide. Public transportation has turned into the most favored method of transportation for individuals to avoid traffic congestion and air pollution. Travelling by trains, bus, and metros is generally more convenient, comfortable, and cost-effective. Public transport frameworks utilize modern ticketing...
Post a Comment
Read more

Nanotech Sensor! Latest Update You Need To Know

Nanotech Sensor Scientists have developed a nanotech sensor that can turns molecular fingerprints into bar codes, according to a study published on June 7, 2018.  This study was conducted by the scientists at the EPFL’s School of Engineering and at Australian National University (ANU). Until now, infrared spectroscopy was the commonly used method to detect and analyze organic compounds. However, it required complicated procedures and large, expensive instruments, which made device miniaturization challenging. This led to the discovery of a compact and sensitive nanophotonic system that can identify a molecule’s absorption characteristics without using conventional spectrometry. Source :  https://www.coherentnews.com/scientists-develop-nanotech-sensor-that-turns-molecular-fingerprints-into-bar-codes/
Post a Comment
Read more