Smart Transportation Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	200 Pages	Fortune Business Insights Pvt. Ltd.	October, 2024	FOB19224180

Best Price Guarantee
Price	from $4,850
Length	200 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	October, 2024
SKU	FOB19224180

Smart Transportation Market

Growth Factors of Smart Transportation Market

The smart transportation market size was valued at USD 115.73 billion in 2023, and the market is now projected to grow from USD 126.76 billion in 2024 to USD 340.69 billion by 2032, exhibiting a CAGR of 13.2% during the forecast period of 2024-2032.

Transit agencies are adopting AI and IoT to facilitate smart transportation market growth during the upsetting COVID-19 crisis. These technologies help in decision-making where services are adapted according to the usage rate. Smart systems allow people to receive information about the arrival of the stations and the occupancy rate of specific vehicles to minimize contact with other individuals. This approach is to regain the riders' confidence and enhance the transit system's effectiveness.

Transportation traffic problems experienced due to population increase, particularly in urban areas and lack of good infrastructure create a market demand of smart transportation market share. Traffic congestions are estimated to cost over USD 200 billion annually in developed countries in terms of increased accidents, delays and losses. Application of technology in automobiles such as remote sensors, self-driving cars, 5G networks and better physical structures can improve automotive safety and operations. As such, these innovations have been of immense benefit in the growth of the smart transportation system.

In this context, another emerging trend visible in the smart transportation market is increased focus on integration between different systems. These are some of the efforts that are in place today, for instance, the Dutch Ministry of Infrastructure researched and developed the TOMP API integrated systems for communication protocols. This common interface ensures smooth interactions within services for bookings and payments. Improved cooperation increases coupling in the entire transport system. These advancements are creating market opportunities for growth.

Comprehensive Analysis of Smart Transportation Market

The smart transportation and automotive industries are growing exponentially because of market segmentation. In this market expansion, it is possible to have a regional analysis considering the supply and demand forces that influence the transportation and logistics industry. These segmentations are precisely separated by solution and by service. The solution include, Traffic Management System, Integrated Supervision System, Parking Management System and Ticketing Management System. The service include, Business, Professional and Cloud.

Europe was found to be the largest market for smart transportation with a market value of USD 45.67 billion in 2023 will increase through large infrastructure spending. The money for the CEF is USD 6.6 billion toward 107 projects for the EU green deal action plan for the Connecting Europe Facility for the 2014-2020 financial perspective. This investment improves the business transport network and positively impacts the climate. It also enhances access to neighbouring countries of Ukraine and Moldova. These are some of the factors that are increasing market growth in the region.

Market leaders significantly contribute to the automotive industry by guaranteeing industrial prospectus growth and establishing market benchmarks. These players include, IBM Corporation (New York, U.S.), Cisco Systems, Inc. (California, U.S.), Kapsch TrafficCom (Vienna, Australia), Cubic Corporation (California, U.S.), Xerox Corporation (New York, U.S.), Siemens AG (Munich, Germany), Iteris, Inc. (California, U.S.), LG CNS Co. Ltd. (Seoul, South Korea), Thales Group (La Defense, France), Indra Sistemas (Alcobendas, Spain), Trapeze Software (Ontario, Canada) and TransCore Inc. (Tennessee, U.S.). These market players thus offer a level-playing competitive environment.

In August 2023, NEC Corporation agreed on a contract with NEC India for the Vehicle Location Tracking Passenger Information System-Nirbhaya fund Project of Govt of India. This strategic and innovative idea addresses significant safety issues in bus travel while enhancing the general experience of passengers by integrating advanced state-of-the-art technologies.

Segmentation Table

Global Smart Transportation Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of 13.2% from 2024 to 2032

Historical Period 2019-2022

Unit Value (USD Billion)

Segmentation By Solution, Service, and Region

By Solution

Ticketing Management System

Parking Management System
Integrated Supervision System
Traffic Management System

By Service

Business

Professional
Cloud

By Region

North America (By Solution, By Service)

U.S. (By Solution, By Service)
Canada (By Solution, By Service)
Mexico (By Solution, By Service)
Europe (By Solution, By Service)
U.K. (By Solution, By Service)
Germany (By Solution, By Service)
France (By Solution, By Service)
Rest of Europe (By Solution, By Service)
Asia Pacific ((By Solution, By Service)
China (By Solution, By Service)
Japan (By Solution, By Service)
India (By Solution, By Service)
South Korea (By Solution, By Service)
Rest of Asia Pacific (By Solution, By Service)
Rest of the World (By Solution, By Service)

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1. Introduction: 1.1. Research Scope; 1.2. Market Segmentation; 1.3. Research Methodology; 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics: 3.1. Market Drivers; 3.2. Market Restraints; 3.3. Market Opportunities
4. Key Insights: 4.1. Key Industry Developments _ Mergers, Acquisitions & Partnerships; 4.2. Porter’s Five Forces Analysis; 4.3. Technological Developments; 4.4. Impact of COVID-19
5. Global Smart Transportation Market Analysis, Insights and Forecast, 2019-2032: 5.1. Key Findings / Summary; 5.2. Market Analysis, Insights and Forecast – By Service; 5.2.1. Business; 5.2.2. Professional; 5.2.3. Cloud; 5.3. Market Analysis, Insights and Forecast – By Solution; 5.3.1. Ticketing Management System; 5.3.2. Parking Management System; 5.3.3. Integrated Supervision System; 5.3.4. Traffic Management System; 5.4. Market Analysis, Insights and Forecast – By Region; 5.4.1. North America; 5.4.2. Europe; 5.4.3. Asia Pacific; 5.4.4. Rest of the World
6. North America Smart Transportation Market Analysis, Insights and Forecast, 2019-2032: 6.1. Key Findings / Summary; 6.2. Market Analysis – By Service; 6.2.1. Business; 6.2.2. Professional; 6.2.3. Cloud; 6.3. Market Analysis – By Solution; 6.3.1. Ticketing Management System; 6.3.2. Parking Management System; 6.3.3. Integrated Supervision System; 6.3.4. Traffic Management System; 6.4. Market Analysis – By Country; 6.4.1. U.S.; 6.4.1.1. By Service; 6.4.1.2. By Solution; 6.4.2. Canada; 6.4.2.1. By Service; 6.4.2.2. By Solution; 6.4.3. Mexico; 6.4.3.1. By Service; 6.4.3.2. By Solution
7. Europe Smart Transportation Market Analysis, Insights and Forecast, 2019-2032: 7.1. Key Findings / Summary; 7.2. Market Analysis – By Service; 7.2.1. Business; 7.2.2. Professional; 7.2.3. Cloud; 7.3. Market Analysis – By Solution; 7.3.1. Ticketing Management System; 7.3.2. Parking Management System; 7.3.3. Integrated Supervision System; 7.3.4. Traffic Management System; 7.4. Market Analysis – By Country; 7.4.1. U.K.; 7.4.1.1. By Service; 7.4.1.2. By Solution; 7.4.2. Germany; 7.4.2.1. By Service; 7.4.2.2. By Solution; 7.4.3. France; 7.4.3.1. By Service; 7.4.3.2. By Solution; 7.4.4. Rest of Europe; 7.4.4.1. By Service; 7.4.4.2. By Solution
8. Asia Pacific Smart Transportation Market Analysis, Insights and Forecast, 2019-2032: 8.1. Key Findings / Summary; 8.2. Market Analysis – By Service; 8.2.1. Business; 8.2.2. Professional; 8.2.3. Cloud; 8.3. Market Analysis – By Solution; 8.3.1. Ticketing Management System; 8.3.2. Parking Management System; 8.3.3. Integrated Supervision System; 8.3.4. aTraffic Management System; 8.4. Market Analysis – By Country; 8.4.1. China; 8.4.1.1. By Service; 8.4.1.2. By Solution; 8.4.2. Japan; 8.4.2.1. By Service; 8.4.2.2. By Solution; 8.4.3. India; 8.4.3.1. By Service; 8.4.3.2. By Solution; 8.4.4. South Korea; 8.4.4.1. By Service; 8.4.4.2. By Solution; 8.4.5. Rest of Asia Pacific; 8.4.5.1. By Service; 8.4.5.2. By Solution
9. Rest of the World Smart Transportation Market Analysis, Insights and Forecast, 2019-2032: 9.1. Key Findings / Summary; 9.2. Market Analysis – By Service; 9.2.1. Business; 9.2.2. Professional; 9.2.3. Cloud; 9.3. Market Analysis – By Solution; 9.3.1. Ticketing Management System; 9.3.2. Parking Management System; 9.3.3. Integrated Supervision System; 9.3.4. Traffic Management System
10. Competitive Analysis: 10.1. Key Industry Developments; 10.2. Global Market Ranking Analysis (2023); 10.3. Competition Dashboard; 10.4. Comparative Analysis – Major Players; 10.5. Company Profiles; 10.5.1. IBM Corporation (New York, U.S.); 10.5.1.1. Overview; 10.5.1.2. Products & services; 10.5.1.3. SWOT Analysis; 10.5.1.4. Recent Developments; 10.5.1.5. Strategies; 10.5.1.6. Financials (Based on Availability); 10.5.2. Cisco Systems, Inc. (California, U.S.); 10.5.2.1. Overview; 10.5.2.2. Products & services; 10.5.2.3. SWOT Analysis; 10.5.2.4. Recent Developments; 10.5.2.5. Strategies; 10.5.2.6. Financials (Based on Availability); 10.5.3. Kapsch TrafficCom (Vienna, Australia); 10.5.3.1. Overview; 10.5.3.2. Products & services; 10.5.3.3. SWOT Analysis; 10.5.3.4. Recent Developments; 10.5.3.5. Strategies; 10.5.3.6. Financials (Based on Availability); 10.5.4. Cubic Corporation (California, U.S.); 10.5.4.1. Overview; 10.5.4.2. Products & services; 10.5.4.3. SWOT Analysis; 10.5.4.4. Recent Developments; 10.5.4.5. Strategies; 10.5.4.6. Financials (Based on Availability); 10.5.5. Xerox Corporation (New York, U.S.); 10.5.5.1. Overview; 10.5.5.2. Products & services; 10.5.5.3. SWOT Analysis; 10.5.5.4. Recent Developments; 10.5.5.5. Strategies; 10.5.5.6. Financials (Based on Availability); 10.5.6. Siemens AG (Munich, Germany); 10.5.6.1. Overview; 10.5.6.2. Products & services; 10.5.6.3. SWOT Analysis; 10.5.6.4. Recent Developments; 10.5.6.5. Strategies; 10.5.6.6. Financials (Based on Availability); 10.5.7. Iteris, Inc. (California, U.S.); 10.5.7.1. Overview; 10.5.7.2. Products & services; 10.5.7.3. SWOT Analysis; 10.5.7.4. Recent Developments; 10.5.7.5. Strategies; 10.5.7.6. Financials (Based on Availability); 10.5.8. LG CNS Co. Ltd. (Seoul, South Korea); 10.5.8.1. Overview; 10.5.8.2. Products & services; 10.5.8.3. SWOT Analysis; 10.5.8.4. Recent Developments; 10.5.8.5. Strategies; 10.5.8.6. Financials (Based on Availability); 10.5.9. Thales Group (La Defense, France); 10.5.9.1. Overview; 10.5.9.2. Products & services; 10.5.9.3. SWOT Analysis; 10.5.9.4. Recent Developments; 10.5.9.5. Strategies; 10.5.9.6. Financials (Based on Availability); 10.5.10. Indra Sistemas (Alcobendas, Spain); 10.5.10.1. Overview; 10.5.10.2. Products & services; 10.5.10.3. SWOT Analysis; 10.5.10.4. Recent Developments; 10.5.10.5. Strategies; 10.5.10.6. Financials (Based on Availability); 10.5.11. Trapeze Software (Ontario, Canada); 10.5.11.1. Overview; 10.5.11.2. Products & services; 10.5.11.3. SWOT Analysis; 10.5.11.4. Recent Developments; 10.5.11.5. Strategies; 10.5.11.6. Financials (Based on Availability); 10.5.12. TransCore Inc. (Tennessee, U.S.); 10.5.12.1. Overview; 10.5.12.2. Products & services; 10.5.12.3. SWOT Analysis; 10.5.12.4. Recent Developments; 10.5.12.5. Strategies; 10.5.12.6. Financials (Based on Availability)