Smart Transportation Market is Expected to Reach US$ 155.1 bn by 2027 | AllTheResearch

IBM Corporation, Kapsch TrafficCom, Cisco Systems, Inc., Cubic Corporation, Siemens AG, Xerox Corporation, Iteris, Inc., LG CNS Co. Ltd., Indra Sistemas, Thales Group are Prominent Players in Smart Transportation Market

PLEASANTON CA, Sept. 16, 2021 (GLOBE NEWSWIRE) -- Latest research report on Smart Transportation Market Growth Analysis 2021-2027 by AllTheResearch provides a detailed outlook of the market with brief information of industry drivers, restraints, opportunities, trends, and challenges.

The global smart transportation market was valued at US$ 95.1 bn in 2020 and expected to reach US$ 155.1 bn by 2027, growing at a CAGR of 11.2% during the forecast period. Increasing environmental concerns regarding greenhouse emissions along with growing smart cities projects are the prominent factors driving the growth in the smart transportation market as well as the adoption of advanced technologies such as IoT combined with machine learning, artificial intelligence and bigdata analytics are majorly contributing to the growth of the market.

Global Smart Transportation Market Report Overview:

The research report covers all the necessary data regarding the market patterns of growth in the market and the factors driving this growth. This research report offers a detailed study of an important microscopic view of the industry to define the footprints of the major players like Cisco, IBM, Siemens, Xerox, Iteris, Thales Group, etc. he leading and dominant players in the global Smart Transportation market are intrinsically analyzed based on key factors in the competition analysis part of the study. The report covers Leading Countries and analyzes the potential of the global Smart Transportation market, providing statistical information about market dynamics, growth factors, major challenges, and market entry strategy analysis, opportunities, and forecasts. The biggest highlight of the report is to provide companies in the industry with a strategic analysis of the impact of COVID-19.

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Smart Transportation Market Report Sample includes:

  • A brief introduction to the research report.
  • Graphical introduction of the regional analysis.
  • Top players in the market with their revenue analysis.
  • Selected illustrations of market insights and trends.
  • Example pages from the report.

Key Market Segmentation of Smart Transportation Industry:

The segmentation of the Smart Transportation market has been offered based on product type, application, mode of transportation, company profiles, and region. Every segment has been analyzed in detail, and data pertaining to the growth of each segment has been included in the analysis.

The Major Companies Covered in Smart Transportation Market Report are: IBM Corporation, Kapsch TrafficCom, Cisco Systems, Inc., Cubic Corporation, Siemens AG, Xerox Corporation, Iteris, Inc., LG CNS Co. Ltd., Indra Sistemas, Thales Group, Oracle Corp., Intel Corp, Parsons Corp., Telit, Biz4Intellia, Trapeze Software, TransCore Inc., Huawei Technologies Co., Ltd, SAP, Alstom, Bombardier Inc., Toshiba, Harris Corporation, Saab AB, Trimble, etc.

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Global Smart Transportation Market by Product Type Outlook (Revenue, USD Billion, 2021-2027)

  • Advanced Traveller Information Systems (ATIC)
  • Advanced Transportation Management Systems (ATMS)
  • Advanced Transportation Pricing Systems (ATPS)
  • Advanced Public Transportation Systems (APTS)
  • Cooperative Vehicle Systems

Global Smart Transportation Market by Application Outlook (Revenue, USD Billion, 2021-2027)

  • Traffic Management
  • Road Safety and Security
  • Parking Management
  • Public Transport
  • Automotive Telematics
  • Freight
  • Other Applications

Global Smart Transportation Market by Transportation Mode Outlook (Revenue, USD Billion, 2021-2027)

  • Roadways
  • Railways
  • Airways
  • Maritime

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Regional Analysis of Smart Transportation Market:

From a geographic segmentation perspective, Europe has dominated the smart transportation market in the year 2020. Europe is one of the leading regions in terms of infrastructure development and technology adoption. The countries in the region have been majorly investing in the upgrading and modernization of transportation infrastructure. Moreover, major countries from Western Europe, including the U.K, Germany, and France already have well-established transportation infrastructure and are widely incorporating advanced smart transportation solutions, thus driving the smart transportation industry demand.

Key Findings:

  • Based on application, the traffic management segment held the largest share in the year 2020 and is expected to hold a similar position during the forecast period
  • Based on transportation mode, roadways transportation mode is expected to hold the largest share in the smart transportation market during the forecast period
  • Based on region, the Asia-Pacific region is expected to witness the fastest growth in the smart transportation industry during the forecast period
  • Based on region, Europe has dominated the smart transportation market in the year 2020

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Recent News, Developments, and investments in Smart Transportation Market:

  • Dubai Plan 2021 launched by the Dubai government aims at making Dubai a smart and sustainable city.
  • In November 2020, NEC, a Japanese multinational information technology and electronics corporation, signed a strategic agreement with Environment Canterbury and the Christchurch City Council in New Zealand.
  • In December 2019, Thales Group, a French multinational company that designs and builds electrical systems signed strategic agreement MTR Corporation, a Hong Kong-based company.
  • In October 2019, Huawei Technologies Co., a Chinese multinational technology company launched its new Open Road Tolling (ORT) solution “iSitepower-T”.

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