Latin America Smart Transportation Market, By Solution (Traffic Management Solution, Passenger Information Solution, Smart Ticketing Solution, Parking Management Solution, Integrated Supervision Solution, Insurance Telematics Solution), Service (Cloud Services, Professional Services), Transportation Mode (Roadways, Railways, Airways, Waterways), Applications (Mobility as a Service, Route Information and Route Guidance, Public Transport, Transit Hubs, Connected Cars, Video Management, Others), Industry Trends and Forecast to 2029.
Market Analysis and Insights of Smart Transportation Market
Smart transportation market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to grow at a CAGR of 10.4% in the above-mentioned forecast period.
Smart transportation basically collect data and controlling the real-time conditions, to improve performance. It is equipped with applications based on Intelligent Transportation System (ITS) and is connected wirelessly with Internet of Things (IoT) vertical technology. It is used for various applications such as mobility as a service, public transport, transit hubs, route information and route guidance, connected cars, video management and others.
The factors such as rise in use of vehicles results in increase in parking issues and rise in demand for efficient transportation worldwide are expected to emerge as the significant factor accelerating the growth of smart transportation market. In addition to this, rapid advancements in the areas such as data communication, mobility, cloud, and sensors that together form the IoT architecture, will further aggravate the growth of the smart transportation market. However, lack of standardization and uniformity in the solutions might lead to compatibility issues which results as a growth restraint for the market.
Rapid evolution with substantial technological advancements in semi-autonomous and autonomous vehicles is anticipated to generate lucrative opportunities for the Smart transportation market. The lack of internet penetration in underdeveloped countries and high investment in improving the infrastructures of existing transportation industry will pose as a challenge for the smart transportation market.
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, geographical expansions, technological innovations in the market. To gain more info on 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.
Latin America Smart Transportation Market Scope and Market Size
The Smart transportation market is segmented on the basis of solution, service, transportation and applications. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of solution, the market is segmented into passenger information solution, traffic management solution, parking management solution, smart ticketing solution, insurance telematics solution and integrated supervision solution. The passenger information solution is sub-segmented into network connectivity and multimedia information & entertainment. The traffic management solution is sub-segmented into route guidance, toll collection & revenue management, smart signaling and predictive traffic analytics. The parking management solution is sub-segmented into ticketing and revenue management, access control, automated parking guidance and slot management.
- On the basis of service, the market is segmented into professional services and cloud services.
- On the basis of transportation, the market is segmented into roadways, railways, waterways and airways.
- On the basis of applications, the market is segmented into mobility as a service, route information and route guidance, public transport, transit hubs, connected cars, video management, others.
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, Latin America 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 report are Kapsch Traffic Com AG, Thales Group, Alstom, Schneider Electric, Siemens, MSR-Traffic GmbH., Cubic Corporation, atkinsglobal, Cisco, Accenture, IBM India Pvt Ltd, LG CNS, Indigo, Toshiba Corporation, Oracle, SAP, Huawei Technologies Co., Ltd., Intel Corporation, and Panasonic Corporation among others.
Customization Available : Latin America Smart Transportation Market
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