Smart Transportation Market Outlook and Forecasts 2022 – 2030
This report evaluates the smart transportation market by various segments from 2022 to 2030. The report analyzes the technologies, solutions and services involved in supporting smart transportation, which represents a major component of smart cities.
Smart transportation refers to management, efficiency, and safety. It uses new and emerging technologies to make moving around a city more convenient, more cost effective (for both the city and the individual), and safer.
Smart transportation consists of systems in which information and communication technologies are applied in the field of road, aviation, marine, and rail transport, including infrastructure, vehicles, and users and in traffic management and mobility management, as well as for interfaces with other modes of transport.
It is based upon the integration of many systems, such as automated vehicle location system, real time traffic information system, automated fare collection system, parking information system, and others. Taking all of these systems into consideration, the market for global smart transportation in the year 2021 reached $97.1 billion. Mind Commerce estimates the overall smart transportation market will reach $263.5 billion, growing at a CAGR of 11.7%
Moreover, smart transportation represents a systematic means to resolve, or at least minimize, traffic problems and overall congestion in cities and main travel arteries. Often challenges facing smart transportation systems come from the emergence of technologies in operational management, such as automation, sharing, and electrification.
With the emergence of intelligent transportation systems, and advances in the Internet of Things (IoT), the world is entering towards a new smart transportation paradigm. According to the US Department of Transportation, intelligent transportation Systems leverage technologies to monitor, evaluate, and manage transportation systems to improve efficiency and safety. These technologies will include IoT as well as AI and 5G telecommunications.
Companies in Report:
• Accenture
• Advantech Co. Ltd
• AGT International
• Alstom
• AVEVA Group PLC
• Bass
• Bentley Systems
• Cisco
• Conduent
• Cubic
• Descartes
• Huawei
• IBM
• Indra Sistemas
• Kapsch
• LG CNS
• MSR-Traffic
• Oracle
• Saab
• SAP
• Schneider Electric
• Siemens
• Thales Group
• TomTom International BV.
• Toshiba
• Trimble
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