Dublin, Oct. 17, 2013 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/4w2dz5/global_smart)
has announced the addition of the "Global
Smart Transportation Market 2012-2016" report to their
offering.
One of the key factors contributing to this growth is the growing
Global Smart Cities market. The Global Smart Transportation market
has also been witnessing an increased investment in traffic
management systems. However, high maintenance costs could pose a
challenge to the growth of this market.
The report covers the Global Smart
Transportation market landscape and its growth prospects in the
coming years. The report also includes a discussion of the key
vendors operating in this market.
The key vendors dominating this market space include Kapsch
TrafficCom AG, Siemens AG, Schneider Electric Co., and Thales
Group.
The other vendors mentioned in this report are Cisco Systems Inc.,
International Business Machines Corp., Intel Corp., and Iteris
Inc.
Commenting on the report, an analyst from the automotive team said:
The increasing number of road accidents and traffic congestion is a
major factor forcing governments across the globe to spend heavily
on improving road transportation. The increased purchasing power of
families and the increasing urbanization worldwide are some of the
reasons behind increased traffic on roads. Thus, the need for
better traffic control is expected to lead to increasing investment
in traffic management system. In 2012, the total investment in
traffic management systems was valued at US$790 million and it is
expected to reach US$1,860 million by 2016.
According to the report, one of the major factors is the growing
popularity of the Global Smart Cities market. Since, smart
transportation is an integral part of smart cities, the growth of
the Global Smart Cities market is expected to foster the demand for
smart transportation.
For more information visit http://www.researchandmarkets.com/research/4w2dz5/global_smart
About Research and Markets
Research and Markets is the world's leading source for
international market research reports and market data. We provide
you with the latest data on international and regional markets, key
industries, the top companies, new products and the latest
trends.
Research and Markets
Laura Wood, Senior Manager.
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector:
Automotive