Global Smart Transportation Market, By Transportation Mode (Roadways, Railways, Airways, Waterways), Application (Mobility as a Service, Route Information and Route Guidance, Public Transport,
, Connected Cars, Video Management, Others) - Industry Trends and Forecast to 2029.
Smart Transportation Market Analysis and Size
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.
Smart Transportation Scope and 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, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, 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 the Middle East and Africa (MEA)
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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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Market Opportunities
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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.
Global Smart Transportation Market Dynamics
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.
Opportunities
In addition, the growing urban population and increased demographic rates is further estimated to provide potential opportunities for the growth of the smart transportation market in the coming years.
Restraints/Challenges
On the other hand, the dearth of standardized and uniform technology is further projected to impede the growth of the smart transportation market in the targeted period. However, the complications regarding in integration over legacy systems and networks might further challenge the growth of the smart transportation market in the near future.
This smart transportation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the smart transportation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Covid-19 Impact on Smart Transportation Market
The pandemic of COVID-19 has had a huge impact on the smart transportation market. The increase in COVID-19 cases has wreaked havoc on the transportation industry. The transportation business has suffered a significant loss as a result of most governments adopting isolation policies. However, in the post-COVID scenario, smart transportation market is projected to be positively impacted.
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.
Smart Transportation Market Regional Analysis/Insights
The smart transportation market is analysed and market size insights and trends are provided by country, transportation mode and application as referenced above.
The countries covered in the smart transportation market report are U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, 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 the Middle East and Africa (MEA).
North America dominates the smart transportation market due to the increase in the government investments in transport infrastructure. Furthermore, the growing development is higher in several countries than others which will further boost the growth of the smart transportation market in the region during the forecast period.
Europe is projected to observe significant amount of growth in the smart transportation market due to the early adoption of several new technologies. Moreover, the growing traffic congestion in major cities is further anticipated to propel the growth of the smart transportation market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Transportation Market Share Analysis
The smart transportation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to smart transportation market.
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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