Europe 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), Country (Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe) Industry Trends and Forecast to 2028
Market Analysis and Insights of Europe Smart Transportation Market
Smart transportation market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to grow at a CAGR of 20.3% in the above-mentioned forecast period.
Smart transportation 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, resulting in 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 the existing transportation industry will pose 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.
Europe 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.
Smart Transportation Market Country Level Analysis
The smart transportation market is analyzed and market size, volume information is provided by solution, service, transportation and applications as referenced above.
The countries covered in the smart transportation market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.
The country section of the Smart transportation market 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 such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe 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, Europe 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.
The major players covered 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, Parsons Corporation among other. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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