Global Smart Transportation Market 2020 Product Type, Applications/end user, Key Players and Geographical Regions 2025
The ‘Smart Transportation market’ research report drafted by Brand Essence Market Research elucidates relevant market and competitive insights as well as regional and consumer information. In a nutshell, the research study covers every pivotal aspect of this business sphere that influences the existing trends, profitability position, market share, market size, regional valuation, and business expansion plans of key players in the Smart Transportation market.
Global Smart Transportation Market is valued at USD 89.41 Billion in 2018 and expected to reach USD 356.38 Billion by 2025 with the CAGR of 21.84% over the forecast period.
The rising need to develop smart transport systems to improve passenger & road safety and manage traffic is driving the growth of Global Smart Transportation Market.
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Scope of Global Smart Transportation Market Reports –
Smart transport or intelligent transport system (ITS) is an advanced transportation infrastructure that aims to provide innovative services for traffic and transport management systems. This transport allows various users to be more synchronized, better informed, and make safer and smarter use of transport networks. Smart transportation is applicable in parking management & guidance, passenger information, and traffic management. Smart transportation utilizes information technology and artificial intelligence to efficiently manage and coordinate transportation systems. The application of smart transportation network allows the traveling population to be aware of the traffic for better coordination and to ensure safety of the drivers. ITS technologies allow users make better use of the transportation network and also cover the way for the development of smarter infrastructure to meet future demands.
Global Smart Transportation Market Regional Analysis –
North America is expected to dominate the global smart transportation market due to increasing investments in smart city projects in this region. The smart building energy efficiency application specified that North America is that the world leader within the Smart Home/Building market with 40% of put in base. Main innovations are currently coming from the US and services are firstly deployed in the country. In a 2018 report completed by the Eden Strategy Institute, 12 of the globe’s 20 smartest cities were located in the USA. Additionally, Asia Pacific smart transportation market is predicted to witness significant growth in upcoming years, due to the increasing government initiatives for developing smart solutions for smooth and safe transportation. The growth of smart transportation solutions is relatively higher in India, China, and Japan within the region. Additionally, Europe is also projected to witness a strong growth in the smart transportation market owing to the rise in demand for efficient transportation networks in Europe.
Some major key players for global Smart Transportation market are
Alstom SA, Cubic Corporation, Accenture Plc, IBM Corporation, Siemens AG, Cisco System Inc., General Electric Company (GE), Kapsch AG, LG CNS Co. Ltd., Tomtom International BV, WS Atkins PLC, Thales Group S.A. and other.
Global Smart Transportation Market Segmentation –
By Solutions:
Integrated Supervision
Ticketing Management
Passenger Information
Insurance Telematics
Parking Management
Traffic Management
By Services:
Cloud
Business
Professional & Consulting
Development & Integration
Support & Maintenance
By Transportation Mode:
Roadways
Railways
By Regional & Country Analysis:
North America
US.
Canada
Europe
UK
France
Germany
Italy
Asia Pacific
China
Japan
India
Southeast Asia
Latin America
Brazil
Mexico
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Key Benefits for Global Smart Transportation Market Reports–
Global Smart Transportation Market report covers in depth historical and forecast analysis.
Global Smart Transportation Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Smart Transportation Market report helps to identify opportunities in marketplace.
Global Smart Transportation Market report covers extensive analysis of emerging trends and competitive landscape.
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