Smart transportation encompasses various applications, including intelligent traffic management, real-time tracking, and autonomous vehicle. Advantages include enhanced safety through predictive analytics and reduced congestion with optimized traffic flow. Features comprise IoT sensors, advanced communication systems, and data analytics. Smart transportation enables efficient, eco-friendly travel by integrating electric vehicles and promoting sustainable mobility solutions. Additionally, it improves user experience with on-demand services and seamless multi-modal connectivity. With real-time data and automation, smart transportation enhances overall mobility, making cities more connected and environmentally responsible while meeting the evolving needs of modern commuters.
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Data Bridge Market Research analyses that the Global Smart Transportation Market is valued at 104.99 billion in 2021 and is expected to reach USD 243.70 billion by 2029, registering a CAGR of 11.1% during the forecast period of 2022 to 2029. The increase in the global population and the rising number of vehicles on the roads have put pressure on transportation systems, leading to the adoption of smart transportation technologies for better traffic management.
Key Findings of the Study
Environmental Concerns are expected to drive the market's growth rate
To combat climate change and curb greenhouse gas emissions, governments and transportation authorities are prioritizing eco-friendly and sustainable smart transportation solutions. These technologies include electric and hybrid vehicle, efficient public transportation systems, and intelligent traffic management. Investing in these solutions, they aim to reduce the environmental impact of transportation, promote cleaner energy sources, and create more environmentally conscious and efficient transportation networks for the future.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Transportation Mode (Roadways, Railways, Airways, Waterways), Application (Mobility as a Service, Route Information and Route Guidance, Public Transport, Transit Hubs, Connected Cars, Video Management, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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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), and Siemens (Germany)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
The smart transportation market is segmented on the basis of transportation mode and application.
- On the basis of transportation mode, the smart transportation market is segmented into roadways, railways, airways, and waterways.
- 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.
Major Players
Data Bridge Market Research recognizes the following companies as the major smart transportation market players in 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), and Siemens (Germany)
Market Developments
- In January 2020, Siemens and Arm, a global leader in semiconductor IP, have joined forces to revolutionize complex electronic system design, fast-tracking advancements in mobility. Their collaboration empowers automakers and suppliers to create and validate innovative safety-enabled systems, Integrated Circuits (ICs), and software solutions for entire vehicles.
Regional Analysis
Geographically, the countries covered in the smart transportation market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the smart transportation market during the forecast period 2022 - 2029
In 2022, North America dominated the smart transportation market as early adopters embraced smart transportation solutions, such as intelligent traffic management, connected vehicles, and real-time tracking systems, leading to improved transportation efficiency and safety. Additionally, major cities are grappling with increasing traffic congestion, which is driving the demand for smart transportation solutions to address the urban mobility challenges. As a result, the region's smart transportation market is poised for significant expansion in the coming years as more cities and stakeholders recognize the benefits of these advanced technologies.
Europe is expected to witness significant growth during the forecast period of 2022 to 2029
In 2022, Europe is expected to witness significant growth as funds are channeled toward modernizing and upgrading transportation systems, including intelligent traffic management, public transit, and smart mobility solutions. Moreover, some countries are witnessing more significant advancements in smart transportation development, giving them a competitive edge and attracting further investments. As these countries lead the way in adopting innovative smart transportation technologies, it is expected to stimulate market growth throughout the forecast period, offering more efficient, sustainable, and connected transportation options for the region.
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