Global Smart Transportation Market 2024-2028
The smart transportation market is forecasted to grow by USD 206.9 bn during 2023-2028, accelerating at a CAGR of 21.88% during the forecast period. The report on the smart transportation market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising adoption of advanced technologies in smart transportation systems, increase in investments in developing transportation infrastructure, and need for sustainable, clean, and high-speed transport.
Technavio's smart transportation market is segmented as below:
- By Mode Of Transportation
- Roadways
- Railways
- Airways
- Maritime
- By Type
- Solutions
- Services
- By Geographical Landscape
- Europe
- North America
- APAC
- South America
- Middle East and Africa
This study identifies the adoption of iot and big data driving efficiency as one of the prime reasons driving the smart transportation market growth during the next few years. Also, growing consolidation in transportation sector and rising concerns on safety and security in transportation will lead to sizable demand in the market.
The report on the smart transportation market covers the following areas:
- Smart transportation market sizing
- Smart transportation market forecast
- Smart transportation market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading smart transportation market vendors that include Accenture Plc, ALE International, ALSTOM SA, Cisco Systems Inc., Digi International Inc., General Electric Co., Hitachi Ltd., Indra Sistemas SA, Infinera Corp., Intel Corp., International Business Machines Corp., Kapsch TrafficCom AG, NEC Corp., NExT S.R.L., Parsons Corp., Schneider Electric SE, Siemens AG, Thales Group, and WSP Global Inc.. Also, the smart transportation market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.