Dublin, Sept. 07, 2020 (GLOBE NEWSWIRE) -- The "Smart Transportation Market by Transportation Mode (Roadways, Railways, Airways, and Maritime), Solution (Smart Ticketing, PIS, Freight Management), Service, Communication Technology, Application, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global smart transportation market is projected to grow from USD 94,478 million in 2020 to USD 156,516 million by 2025, at a Compound Annual Growth Rate (CAGR) of 10.6% during the forecast period of 2020 to 2025.
The major factors driving the growth of the smart transportation market include technological advancements to enhance customer experience, growing government initiatives and PPP models for smart transportation, rising urban population and high demographic rates, and growing adoption of IoT and automation technologies to enhance technological optimization.
Airways transportation mode to grow at a higher CAGR during the forecast period
The smart transportation market is segmented into four transportation mode: roadways, railways, airways and maritime. Air transportation is an important transportation mode in the global smart transportation market. With the growing urbanization across the globe, the airways industry has evolved over the years. The demand for aviation services has increased significantly in the last decade. New technologies and digitization of services are driving the airline industry to ensure smooth maintenance, reduce operating costs, and take advantage of the increasing air travel. Several disruptive technologies, such as AI/ML, IoT, blockchain, big data and analytics, AR, biometrics, and robotics, provides the potential to improve the customer experience and enhance the operational efficiency both on the ground and in-flight.
Solutions in the roadways transportation mode to lead the market during the forecast period
The solution segment of the roadways transportation mode of the smart transportation market includes smart ticketing, parking management, traffic management, passenger information, freight information, and vehicle telematics and others (GIS tracking, commercial vehicle operations, and security). With the growing government initiative related to the enhancement of vehicle efficiency across the globe has led to the growth of the solution segment if the roadways transportation mode. As of now, several regional governments are focusing on deploying smart technologies in vehicles for ensuring safety. The deployment of roadways solutions helps in better fuel, operations, and route management, which, in turn, saves fuel, curbs additional carbon emission, and increases the life cycle of vehicle parts.
Smart ticketing solution segment of the railways transportation mode to grow at a higher CAGR during the forecast period
The smart ticketing solution is an intelligent solution, which includes integrated ticketing, onboard ticketing, online ticketing, mobile application ticketing, and smart card system. It enables smooth passenger flow by enabling a comfortable passenger experience. It reduces dependence on cash and other payment methods, which aid in smooth transitions and improve journey time. Smart ticketing will help contribute to the overall improvement of the railway transport network level of services, images, and accessibility, to facilitate and/or increase the use of railway transport. The increasing demand of the ticketing process to simplify the process drives the demand for smart ticketing solutions.
Air traffic management in the airways transportation mode to lead the market during the forecast period
Air Traffic Management (ATM) is dynamic and integrated management of air traffic and airspace involving airborne and ground-based functions to provide safe, economical, and efficient airspace management and Air Traffic Flow Management (ATFM). The introduction of new technologies, such as GPS-based navigation and landing digital air-ground data link communication, and Automatic Dependent Surveillance-Broadcast (ADS-B), is expected to boost the growth of ATM
Vessel tracking solution segment of the maritime transportation mode to grow at a higher CAGR during the forecast period
A vessel tracking system plays an important role by bringing about long-range connectivity not only between ships and coast guards of countries but also among ships as well. With the increasing connectivity technologies, such as IoT, vessel tracking systems have managed to incorporate internet connectivity as a part of their core objective, providing a much better service. Vessel tracking helps manage the entire life cycle of vessels/containers in export/import. It is one of the critical software used by the professional mariner to keep track of all assets (vessel, containers, cargo, and buoys) and monitor positions of the vessels. Advancements of communication technologies in the maritime transportation mode provides the connectivity from ship-to-ship communication and ship-to-shore communication.
Europe to lead the market share in 2020
Europe is the largest regional market in terms of revenue, and the UK is the most developed economy, contributing significantly to the smart transportation market. The European countries have been investing majorly in the modernization and up-gradation of rail infrastructure. Social and trade agreements among the European Union (EU) countries have promoted large-scale, cross-border trade and passenger traffic in Europe. The dynamics of the transportation industry in Europe is changing rapidly with new freight and passenger management systems. To boost the efficiency of the existing infrastructure, several European countries are expected to adopt new smart transportation solutions. Europe has a conducive environment for the implementation of smart transportation systems, as the government has planned investments for improving the public transportation modes in this region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Smart Transportation Market
4.2 Asia Pacific Market, by Transportation Mode and Country
4.3 Market: Major Countries
5 Market Overview and Industry Trends
5.1 Market Overview
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Technological Advancements to Enhance Customer Experience
5.2.1.2 Growing Government Initiatives and Ppp Models for Smart Transportation
5.2.1.3 Rising Urban Population and High Demographic Rates
5.2.1.4 Adoption of Iot and Automation Technologies to Enhance Technological Optimization
5.2.2 Restraints
5.2.2.1 Lack of Standardized and Uniform Technology
5.2.2.2 Stringent Transportation Regulatory Policies
5.2.3 Opportunities
5.2.3.1 Autonomous Vehicles to Provide Growth Opportunities for Smart Transportation Solution Providers
5.2.3.2 Designing and Developing Connected Vehicles Compatible with Its
5.2.3.3 Penetration of Analytics in Smart Transportation
5.2.3.4 Decline in Vehicle Ownership with the Advancement of Maas
5.2.4 Challenges
5.2.4.1 Complexities in Integration Over Legacy Systems and Networks
5.2.4.2 High Initial Cost of Deployment
5.2.4.3 Multiple Sensors and Touchpoints Pose Data Fusion Challenges
5.3 Impact of COVID-19 on Smart Transportation Market Dynamics Analysis
5.3.1 Driver and Opportunities
5.3.2 Restraints and Challenges
5.3.3 Cumulative Growth Analysis
5.4 Smart Transportation Ecosystem
5.5 Industry Use Cases
5.5.1 Use Case 1: Cisco, Davra Networks, and Intel Deliver Edge Analytics to San Diego Metropolitan Transit System
5.5.2 Use Case 2: Bane Nor (Norway) Selected Thales to Provide Next-Generation Nationwide Traffic Management System
5.5.3 Use Case 3: Intelligent Software System by Huawei Analyses Data, Improves Surveillance Efficiency, and Implements Convenient Surveillance Management Solutions for Qinghai-Tibet Railway
5.5.4 Use Case: Ibm Helped the American Airline to Migrate Its Critical Applications to the Ibm Cloud Using New Methodology to Create Innovative Applications to Improve their Customer Experience
5.6 Impact of Disruptive Technologies
5.6.1 Artificial Intelligence
5.6.2 Big Data and Analytics
5.6.3 Internet of Things
5.6.4 Blockchain
6 Smart Transportation Market, by Transportation Mode
6.1 Introduction
6.2 Roadways
6.2.1 Impact of COVID-19 on Roadways Smart Transportation Mode
6.2.2 Roadways: Market Drivers
6.3 Railways
6.3.1 Impact of COVID-19 on Railways Smart Transportation Mode
6.3.2 Railways: Smart Transportation Market Drivers
6.4 Airways
6.4.1 Impact of COVID-19 on Airways Smart Transportation Mode
6.4.2 Airways: Market Drivers
6.5 Maritime
6.5.1 Impact of COVID-19 on Maritime Smart Transportation Mode
6.5.2 Maritime: Market Drivers
7 Smart Transportation Market, by Roadway
7.1 Solutions in Roadways
7.2 Services in Roadways
8 Smart Transportation Market, by Railway
8.1 Solutions in Railways
8.2 Services in Railways
9 Smart Transportation Market, by Airway
9.1 Solutions in Airways
9.2 Services in Airways
10 Smart Transportation Market, by Maritime
10.1 Solutions in Maritime
10.2 Services in Maritime
11 Smart Transportation Market, by Communication Technology
11.1 Communication Technology in Roadways
11.1.1 Vehicle to Vehicle
11.1.2 Vehicle to Infrastructure
11.2 Communication Technology in Railways
11.2.1 Ground to Train Communication
11.2.2 Train to Train Communication
11.3 Communication Technology in Airways
11.3.1 Inflight Communication
11.3.2 Aircraft to Ground Communication
11.3.3 Aircraft to Aircraft Communication
11.4 Communication Technology in Maritime
11.4.1 Ship to Shore Communication
11.4.2 Ship to Ship Communication
12 Smart Transportation Market, by Application
12.1 Mobility As a Service
12.2 Route Information and Route Guidance
12.3 Public Transport
12.4 Transit Hubs
12.5 Connected Cars
12.6 Video Management
12.6.1 Traffic and Vehicle Surveillance
12.6.2 Automatic Number Plate Recognition
12.6.3 Incident Detection and Prevention
12.7 Other Applications
13 Smart Transportation Market, by Region
13.1 Introduction
13.2 North America
13.3 Europe
13.4 Asia Pacific
13.5 Middle East and Africa
13.6 Latin America
14 Competitive Landscape
14.1 Overview
14.2 Competitive Scenario
14.2.1 New Product Launches and Product Development
14.2.2 Contracts
14.2.3 Mergers and Acquisitions
14.2.4 Agreements, Collaborations, and Partnerships
15 Company Profiles
15.1 Introduction
15.2 Thales Group
15.3 Huawei
15.4 Siemens
15.5 IBM
15.6 Cisco Systems
15.7 SAP
15.8 Cubic
15.9 Alstom
15.10 Bombardier
15.11 Toshiba
15.12 Harris
15.13 Saab
15.14 Veson Nautical
15.15 Bass Software
15.16 Bentley Systems
15.17 Indra Sistemas
15.18 Trimble
15.19 Tomtom
15.2 Amadeus
15.21 Conduent
15.22 Kapsch
15.23 Hitachi
15.24 Descartes
15.25 Accenture
15.26 DNV Gl
15.27 Right-To-Win
16 Key Players in the Smart Transportation Market, by Application
16.1 Introduction
16.2 Bike Sharing Vendors
16.2.1 Mobike
16.2.2 Ofo
16.2.3 Didi
16.2.4 Youon
16.2.5 Citi Bike
16.2.6 Lime
16.2.7 Hopr
16.3 Dynamic Carpooling/Car Sharing Vendors
16.3.1 Turo
16.3.2 Cambio Carsharing
16.3.3 Cityhop
16.3.4 Carma Technology
16.3.5 Communauto
16.4 Shared Mobility Vendors
16.4.1 Bestmile
16.4.2 Blablacar
16.4.3 Uber
16.4.4 Moov Technology
16.5 Road User Charging Vendors
16.5.1 Evatran (Plugless Power)
16.5.2 Witricity Corporation
16.5.3 Momentum Dynamics
16.5.4 Mojo Mobility
16.5.5 Hevo
16.6 Electric Car Vendors
16.6.1 Abb Group
16.6.2 Tesla
16.6.3 Eaton Corporation
16.6.4 Chargepoint
16.7 Smart Ticketing Vendors/Single Fare Card/
16.7.1 Confidex
16.7.2 Nxp Semiconductors
16.7.3 Cpi Card Group
16.8 Smart Parking Vendors
16.8.1 Amano Corporation
16.8.2 Park Assist
16.8.3 Nedap Identification Systems
16.8.4 Group Indigo
16.8.5 Streetline
16.9 Smart Traffic Lights/Smart Signaling Vendors
16.9.1 Federal Signal
16.9.2 Econolite
16.9.3 Aldridge Traffic Systems
16.9.4 E2S Warning Signals
16.10 Passenger Information System Solution Vendors
16.10.1 Te Connectivity
16.10.2 Mitsubishi Electric Corporation
16.10.3 Neusoft Corporation
16.10.4 Teleste Corporation
16.11 Predictive Traffic Analytics Vendors
16.11.1 Ptv Group
16.11.2 Cyient
16.11.3 Tiger Analytics
16.12 Driverless Car Vendors
16.12.1 Alphabet (Google)
16.12.2 Continental Ag
16.12.3 Harman International
17 Appendix
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