Smart Transportation Market is forecasted to register a CAGR of 19.7% in the forecast period of 2019 to 2026, and the factors driving the market are as follows; increasing adoption of automated vehicle tracking devices, commuter information systems, and unified payment methods which have raised the inclination towards the business of smart transportation market. These developments are working as catalyst in powering the economy as well as are improving the travelers commuting experience which is accelerating the growth of the market in emerging economies.
Smart transportation market has shown an exceptional penetration in developed economies such as Asia-Oceania and Europe. Roadways and railways are the basic requirement for mass transit globally hence the accelerating rate of industrialization, urbanization and government expenditure for building safe and advanced transportation channels will propel the growth of smart transportation market to the zeniths height.
Smart Transportation Market Scenario
According to Data Bridge Market Research the market of smart transportation solution is leaping at the pace of CAGR of 19.7% in the forecast period of 2019 to 2026 due to the flourishing demand of controlled vehicle congestion devices, high acceptance of wireless interface for payment and latest vehicle location tracking devices. Smart ticketing systems for railways and roadways embraced by emerging economies has created competent market in the world of transportation which is one of blooming reason attracting the investors in these market whereas the continuous innovation for improved smart transportation experience through IoT solutions, e-payment interface are also among the prime driving factors proving the potential of mass transit market in the anticipated period of 2019 to 2026.
Now the question is which are the other regions intuitive is targeting? Data Bridge Market Research has forecasted a large growth in European market due to their speeding social economic standards which will turn up as next revenue pockets for 2020.
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Latest Smart Transportation Market Developments in 2019
- In June 2019, The European Commission's science conducted a launch event for constructing a better, cleaner and advanced road mobility transportation channel which will focus on introducing advanced technologies, automated gears & inputs, and connected mass transit information system bringing ease of transportation and travelling into action. As mentioned about mounting socioeconomic level in European market this held incidence opens up the Pandora’s Box of opportunities in smart transportation market.
- In January 2019, TransCore (U.S) a leading company in transportation industry was given a chance for planning and installation of smart express lane in San Bernardino County, CA.
Scope of the Smart Transportation Market
Smart transportation market is segmented on the basis of countries into U.S., Canada, Mexico in North 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 in Asia-Pacific, Brazil, Argentina, Rest of South America, in South America and Saudi Arabia, UAE, South Africa, Egypt, Israel, Rest of Middle East and Africa as a part of Middle East and Africa.
All country based market analysis of the smart transportation market is further analyzed based on maximum granularity into further segmentation. On the basis of solution the smart transportation market is segmented into passenger information solution, traffic management solution, parking management solution, smart ticketing solution, insurance telematics solution and integrated supervision solution. 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.
Smart transportation is term abbreviated or adapted from intelligent transportation system which means implementation of technologies, advanced applications, artificial intelligence and electronic user interface into the various mode of transport available for mass transit. It provides or offer hassle free experience while traveling, safer mode of transportation and improved commuting channels.
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Key Pointers Covered in the Smart Transportation Market Industry Trends and Forecast to 2027
- Market Size
- Market New Sales Volumes
- Market Replacement Sales Volumes
- Market Installed Base
- Market By Brands
- Market Procedure Volumes
- Market Product Price Analysis
- Market Shares In Different Regions
- Recent Developments for Market Competitors
- Market Upcoming Applications
- Market Innovators Study
Key Market Competitors Covered in the report
- Kapsch Traffic Com
- Gemalto NV
- Thales Group
- Alstom
- Schneider Electric
- Siemens Ltd.
- MSR-Traffic
- Cubic Corporation
- WS ATKINS PLC
- Accenture
- IBM
- LG CNS
- Indigo Group
- Toshiba Corporation
Above are the key players covered in the report to know about more and exhaustive list of smart transportation companies contact us https://www.databridgemarketresearch.com/reports/global-smart-transportation-market
Research Methodology of Smart Transportation Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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