North America Smart Transportation Market, By Solution (Traffic Management Solution, Passenger Information Solution, Smart Ticketing Solution, Parking Management Solution, Integrated Supervision Solution and Insurance Telematics Solution), Service (Cloud Services and Professional Services), Transportation Mode (Roadways, Railways, Airways and Waterways), Country (Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines and Rest of Asia- Pacific) Industry Trends and Forecast to 2028
Market Analysis and Insights of North America Smart Transportation Market
Surge in the adoption of advanced technologies to enhance the customer experience, growing need and demand for improved and efficient parking management systems and rising need to formulate a sustainable solution to counter traffic related problems are the major factors attributable to the growth of the smart transportation market. Data Bridge Market Research analyses that the smart transportation market will exhibit a CAGR of 21.93% for the forecast period of 2021-2028.
Smart transportation is a set of systems and solutions that are used to control the real-time conditions, monitor and collect the data and enhance the overall performance. Smart transportation is integrated with modern technologies and management strategies such as ITS (Intelligent Transportation System).
Rising focus on the technological advancements coupled with ever-rising population base will emerge as the major market growth driving factor. Surge in the number of small and medium scale organizations, increasing demand for integrated security and safety systems for improved public safety, growing infrastructural development especially in the developing economies and surging adoption of internet of things technology will further aggravate the growth of the market.
However, lack of skilled workforce and technological expertise in underdeveloped and developing economies will act as a growth restraint for the market. Lack of standardized and uniform technology and complexities existing in analysing multiple parameters and in monitoring real-time events will yet again hamper the market growth rate. Also, complexities in integration over legacy systems and networks will also hamper the market growth rate.
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 localised 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.
North America Smart Transportation Market Scope and Market Size
The smart transportation market is segmented on the basis of solution, services and transportation. 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 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. The passenger information solution is sub-segmented into network connectivity and multimedia information and entertainment. The traffic management solution is sub-segmented into route guidance, toll collection and revenue management, smart signalling 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 smart transportation market is segmented into professional services and cloud services.
- On the basis of transportation, the smart transportation market is segmented into roadways, railways, waterways and airways.
North America Smart Transportation Market Country Level Analysis
The smart transportation market is analysed and market size, volume information is provided by country, solution, services and transportation as referenced above.
The countries covered in the smart transportation market report are Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines and Rest of Asia- Pacific.
U.S. in North America dominates the smart transportation market. This is because of the rising digitization especially in the emerging economies owing to the presence of the leading market players and huge focus of the government on the improving the deployment of advanced and smart technologies.
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 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 North America 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.
The major players covered in the smart transportation report are Kapsch TrafficCom AG, Gemalto NV, Thales Group, Alstom, Schneider Electric, Siemens, MSR-Traffic GmbH, Cubic Corporation, WS Atkins Limited, Cisco System, Inc., Accenture, IBM, LG CNS, IndiGo and TOSHIBA CORPORATION among other. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
SKU-