by According to a research report “Smart Transportation Market (By Solution: Ticketing Management System, Parking Management & Guidance System, Integrated Supervision System, Traffic Management System; By Service: Business, Professional, Cloud Services; By Transportation Mode; By Application; By Transportation Mode) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 – 2030″ published by Precedence Research.
The smart transportation market size is projected to hit from USD 105.81 billion in 2022 to USD 377.1 billion by 2030, growing at a CAGR of 17.2% every year.
The study provides an analysis of the period 2017-2030, wherein 2021 to 2030 is the forecast period and 2021 is considered as the base year.
Smart transportation, also known as intelligent transportation system, is a high-tech transportation infrastructure that aspires to provide cutting edge traffic, and transportation management services. This mode of transportation also allows multiple users to be better coordinated, informed, and makes safer and more intelligent use of transportation networks. Parking management and assistance, passenger information, and traffic management are all areas where smart transportation can be used on a large scale.
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To improve safety and efficiency, smart transportation employs a variety of technologies to evaluate, monitor, and manage transportation systems. It makes commuting throughout a city more cost effective and convenient, and safer by utilizing innovative technologies. The factors such as increased acceptance of internet of things-based technology, rising urbanization, and the spread of 5G based connectivity make smart transportation infrastructure easier to deploy.
Table of Contents
Report Highlights
- Based on the service, the cloud service segment is expected to grow at the fastest rate in the global smart transportation market in 2020. Smart transportation provides real time visibility and reliable data, allowing local transportation authorities and enterprises to improve efficiency and effectiveness, boosting the demand for cloud services.
- Europe is the largest segment for smart transportation market in terms of region. In any city of the Europe region, urban transportation is becoming increasingly important for residents to have a higher quality of life. Currently, private and public road transportation is required for everyday travel in most European cities.
- Asia-Pacific region is the fastest growing region in the smart transportation market. The lack of quality and safety in public transit, as well as poor traffic management in overcrowded road networks, an increase in theft, and increased parking challenges are factors driving market for smart highways, which, in turn, is fueling the smart transportation market in the Asia-Pacific region.
Market Dynamics
Drivers
Surge in demand for efficient transportation
The artificial intelligence and information technology are used in smart transportation to efficiently manage and coordinate transportation networks. The use of smart transportation networks allows the traveling public to be more aware of traffic, allowing for improved coordination and driver safety.
The increased traffic congestion caused by an increase in the number of automobiles drives up the demand for smart transportation in the market. Moreover, the growing desire for smart cities is a big contributor to this rise in demand for smart transportation. Thus, the surge in demand for efficient transportation is driving the growth of smart transportation market during the forecast period.
Restraints
Integration of technologies
Several technology components, including hardware, software, and network elements, are integrated into the smart transportation ecosystem, which involves multiple manufacturers. Due to the lack of an open interface and protocol difficulties, integrating smart technology aspects with legacy transportation systems is extremely difficult.
As a result of these integration challenges, communication gaps between traditional and technologically advanced systems would emerge. In addition, upgrading outdated systems necessitates a significant financial investment. In the upcoming years, these difficulties are projected to stifle the smart transportation market expansion.
Opportunities
Technological advancements
People can use internet of things-based devices to gather and communicate real time information about traffic, climate, and accidents, to better plan their journeys. The increased use of technologies such as train control systems, toll collecting systems, fleet telematics, and transportation logistics by transportation agents has increased system capacity while lowering operational costs.
Moreover, the requirement to manage the growing volume to data generated by the enormous number of internet of things sensors deployed in transportation infrastructure is generating major new revenue streams for service providers and independent software suppliers.As a result, the technological advancements is creating lucrative opportunities for the growth of the smart transportation market during the forecast period.
Challenges
Lack of standardization
Smart transportation systems are made up of a variety of components, including various technologies, hardware, and software from various vendors. As a result, there is a lack of standardization and uniformity in the solutions, which causes compatibility issues. Furthermore, different countries and regions have different communication and network standards and protocols, limiting vendors’ ability to offer global solutions.
As a result, in order for traffic management solutions to be adopted globally, a common protocol for communication and workflow for traffic management systems is required. As a result, the absence of globally binding mandates, procedures, and specifications for the deployment of traffic management solutions acts as a market challenge. National mandates, procedures, and specifications for smart transportation systems may restrict the adoption of smart transportation solutions.
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Some of the prominent players in the global smart transportation market include:
- Harris Corporation
- IBM Corporation
- Huawei Technologies Co. Ltd
- Veson Nautical
- Cubic Corporation
- Bentley Systems
- BASS Software
- Amadeus IT Group SA
- DNV GL
- Toshiba
Segments Covered in the Report
By Solution
- Ticketing Management System
- Parking Management & Guidance System
- Integrated Supervision System
- Traffic Management System
By Service
- Business
- Professional
- Cloud Services
By Transportation Mode
- Roadways
- Railways
- Airways
- Maritime
By Application
- Mobility as a Service
- Route Information and Route Guidance
- Public Transport
- Transit Hubs
- Connected Cars
- Video Management
- Others
By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Smart Transportation Market
5.1. COVID-19 Landscape: Smart Transportation Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Smart Transportation Market, By Solution
8.1. Smart Transportation Market, by Solution Type, 2021-2030
8.1.1. Ticketing Management System
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Parking Management & Guidance System
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Integrated Supervision System
8.1.3.1. Market Revenue and Forecast (2019-2030)
8.1.4. Traffic Management System
8.1.4.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Smart Transportation Market, By Service
9.1. Smart Transportation Market, by Service, 2021-2030
9.1.1. Business
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Professional
9.1.2.1. Market Revenue and Forecast (2019-2030)
9.1.3. Cloud Services
9.1.3.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Smart Transportation Market, By Transportation Mode
10.1. Smart Transportation Market, by Transportation Mode Type, 2021-2030
10.1.1. Roadways
10.1.1.1. Market Revenue and Forecast (2019-2030)
10.1.2. Railways
10.1.2.1. Market Revenue and Forecast (2019-2030)
10.1.3. Airways
10.1.3.1. Market Revenue and Forecast (2019-2030)
10.1.4. Maritime
10.1.4.1. Market Revenue and Forecast (2019-2030)
Chapter 11. Global Smart Transportation Market, By Application
11.1. Smart Transportation Market, by Application Type, 2021-2030
11.1.1. Mobility as a Service
11.1.1.1. Market Revenue and Forecast (2019-2030)
11.1.2. Route Information and Route Guidance
11.1.2.1. Market Revenue and Forecast (2019-2030)
11.1.3. Public Transport
11.1.3.1. Market Revenue and Forecast (2019-2030)
11.1.4. Transit Hubs
11.1.4.1. Market Revenue and Forecast (2019-2030)
11.1.5. Connected Cars
11.1.5.1. Market Revenue and Forecast (2019-2030)
11.1.6. Video Management
11.1.6.1. Market Revenue and Forecast (2019-2030)
11.1.7. Others
11.1.7.1. Market Revenue and Forecast (2019-2030)
Chapter 12. Global Smart Transportation Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Solution (2019-2030)
12.1.2. Market Revenue and Forecast, by Service (2019-2030)
12.1.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.1.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Solution (2019-2030)
12.1.5.2. Market Revenue and Forecast, by Service (2019-2030)
12.1.5.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.1.5.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Solution (2019-2030)
12.1.6.2. Market Revenue and Forecast, by Service (2019-2030)
12.1.6.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.1.6.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Solution (2019-2030)
12.2.2. Market Revenue and Forecast, by Service (2019-2030)
12.2.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.2.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Solution (2019-2030)
12.2.5.2. Market Revenue and Forecast, by Service (2019-2030)
12.2.5.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.2.5.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Solution (2019-2030)
12.2.6.2. Market Revenue and Forecast, by Service (2019-2030)
12.2.6.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.2.6.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Solution (2019-2030)
12.2.7.2. Market Revenue and Forecast, by Service (2019-2030)
12.2.7.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.2.7.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Solution (2019-2030)
12.2.8.2. Market Revenue and Forecast, by Service (2019-2030)
12.2.8.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.2.8.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Solution (2019-2030)
12.3.2. Market Revenue and Forecast, by Service (2019-2030)
12.3.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.3.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Solution (2019-2030)
12.3.5.2. Market Revenue and Forecast, by Service (2019-2030)
12.3.5.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.3.5.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Solution (2019-2030)
12.3.6.2. Market Revenue and Forecast, by Service (2019-2030)
12.3.6.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.3.6.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Solution (2019-2030)
12.3.7.2. Market Revenue and Forecast, by Service (2019-2030)
12.3.7.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.3.7.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Solution (2019-2030)
12.3.8.2. Market Revenue and Forecast, by Service (2019-2030)
12.3.8.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.3.8.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Solution (2019-2030)
12.4.2. Market Revenue and Forecast, by Service (2019-2030)
12.4.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.4.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Solution (2019-2030)
12.4.5.2. Market Revenue and Forecast, by Service (2019-2030)
12.4.5.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.4.5.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Solution (2019-2030)
12.4.6.2. Market Revenue and Forecast, by Service (2019-2030)
12.4.6.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.4.6.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Solution (2019-2030)
12.4.7.2. Market Revenue and Forecast, by Service (2019-2030)
12.4.7.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.4.7.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Solution (2019-2030)
12.4.8.2. Market Revenue and Forecast, by Service (2019-2030)
12.4.8.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.4.8.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Solution (2019-2030)
12.5.2. Market Revenue and Forecast, by Service (2019-2030)
12.5.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.5.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Solution (2019-2030)
12.5.5.2. Market Revenue and Forecast, by Service (2019-2030)
12.5.5.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.5.5.4. Market Revenue and Forecast, by Application Type (2019-2030)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Solution (2019-2030)
12.5.6.2. Market Revenue and Forecast, by Service (2019-2030)
12.5.6.3. Market Revenue and Forecast, by Transportation Mode Type (2019-2030)
12.5.6.4. Market Revenue and Forecast, by Application Type (2019-2030)
Chapter 13. Company Profiles
13.1. Harris Corporation
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. IBM Corporation
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Huawei Technologies Co. Ltd
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Veson Nautical
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Cubic Corporation
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Bentley Systems
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. BASS Software
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Amadeus IT Group SA
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. DNV GL
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Toshiba
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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