BERLIN, Aug. 26, 2022 (GLOBE NEWSWIRE) -- Data Bridge Market Research has published a new research report titled Global Smart Transportation Market gives a holistic view of the market from 2022 to 2029, Which Includes primary and secondary drivers, market share, leading segments, possible sales volume, and geographical analysis. Smart Transportation Market report contains a thorough description, competitive scenario, wide product portfolio of key vendors, and business strategy adopted by competitors along with their swot analysis and porter's five force analysis. The Smart Transportation Market report has been prepared by keeping in mind the customer requirements which assist them in increasing their return on investment (ROI). Furthermore, it endows with historic data, present market trends, environment, technological innovation, upcoming technologies, and the technical progress in the related industry.
Data Bridge Market Research analyses that the smart transportation market was valued at USD 104.99 billion in 2021 and is further estimated to reach USD 243.70 billion by 2029, and is expected to grow at a CAGR of 11.1% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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REPORT METRIC
Forecast Period - 2022 to 2029
Base Year – 2021
Historic Years - 2020 (Customizable to 2014 - 2019)
Smart transportation systems have grown in popularity in the transportation industry, focusing on the design, inspection, and control of intelligent transportation to satisfy the needs of communities. To increase the efficiency of road traffic, these systems combine sensor technology with navigation systems. With the expanding investments in smart city initiatives, widespread use of ITS has already begun in the sector.
Some of the major players operating in the Smart Transportation Market are:
- Kapsch Traffic Com (Austria),
- Gemalto NV (Netherlands),
- Thales Group (France),
- Alstom (France),
- MSR-Traffic (Germany),
- Cubic Corporation (US),
- WS ATKINS PLC (UK),
- Cisco System, Inc. (US),
- Accenture (Ireland),
- IBM (US),
- LG CNS (South Korea),
- Indigo Group (India),
- Toshiba Corporation (Japan),
- Schneider Electric (France), and Siemens (US).
Recent Development
- In January 2020, Siemens and Arm, a worldwide semiconductor IP leader, collaborated to redefine design capabilities for complex electronic systems, accelerating the future of mobility. Through the partnership, automakers and suppliers will be able to develop and validate differentiated safety enabled systems, Integrated Circuits (ICs), and software solutions in the entire vehicle using Arm automotive IP and software within Siemens PAVE360 digital twin environment.
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Opportunities
In addition, the growing urban population and increased demographic rates is further estimated to provide potential opportunities for the growth of the smart transportation market in the coming years.
Smart Transportation Market Drivers:
- Technological developments
The IoT architecture, which includes technologies such as data connectivity, cloud, mobility, and sensors, is critical to the effective deployment of smart transportation systems, further accelerating the growth of the smart transportation market.
- Rise in government initiatives
Governments are putting more emphasis on creating smart cities. Governments all around the world are regulating the installation of factory-fitted telematics and safety systems in automobiles as a result of rising road safety concerns and rising auto thefts is further anticipated to propel the growth of the market.
- Growing adoption of connected vehicles
Real-time traffic navigation allows vehicles to communicate with their surroundings, avoiding traffic jams and collisions will further contribute to the market growth.
Restraints/Challenges Global Smart Transportation Market
On the other hand, the dearth of standardized and uniform technology is further projected to impede the growth of the smart transportation market in the targeted period. However, the complications regarding in integration over legacy systems and networks might further challenge the growth of the smart transportation market in the near future.
Reasons to Consider the Smart Transportation Market Report:-
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
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Segmentations: Smart Transportation Market
Transportation Mode
- Roadways
- Railways
- Airways
- Waterways
Application
- Mobility as a Service
- Route Information and Route Guidance
- Public Transport
- Transit Hubs
Organization Size:
- Small and Medium Enterprise
- Large Enterprise
Smart Transportation Market Regional Analysis/Insights
The smart transportation market is analysed and market size insights and trends are provided by country, transportation mode and application as referenced above.
The countries covered in the Smart Transportation Market Report are U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South 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 (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
North America dominates the smart transportation market due to the increase in the government investments in transport infrastructure. Furthermore, the growing development is higher in several countries than others which will further boost the growth of the smart transportation market in the region during the forecast period.
How does the Report Aid Your Business Discretion?
- This section of this Market report highlights some of the most relevant factors and growth enablers that collectively ensure a high-end growth spurt
- The report unravels details on pronounced share assessments across both country-wise as well as region-based segments
- A leading synopsis of market share analysis of dynamic players inclusive of high-end industry veterans
- New player entry analysis and their scope of new business models
- The report includes strategic recommendations for new business veterans as well as established players seeking novel growth avenues
- A detailed consultation services based on historical as well as current timelines to ensure feasible forecast predictions
- A thorough evaluation and detailed study of various segments as well as sub-segments across regional and country-specific developments
- Details on market estimations, market size, dimensions
- A review of market competitors, their high-end product and service portfolios, dynamic trends, as well as technological advances that portray high end growth in this Market
TABLE OF CONTENTS
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers And Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix
View Detailed Table of Content@ https://www.databridgemarketresearch.com/toc/?dbmr=global-smart-transportation-market
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