GLOBAL SMART TRANSPORTATION MARKET was valued at USD 58.1 Billion in the year 2019. Global Smart Transportation Market is further estimated to grow at a CAGR of 23.69% from 2019 to reach USD 257.4 Billion by the year 2025. European region holds the highest market share in 2016 and Asia Pacific market is considered as the fastest growing market in the forecasted period. At country level China, Japan and India are projected to grow strongly in the coming years.
Alstom SA, Cubic Corporation, Accenture Plc, IBM Corporation, Siemens AG, Cisco System, Inc., General Electric Company (GE), Kapsch AG, LG CNS Co., Ltd., Tomtom International BV, are some of the key players in the Global Smart Transportation market. Rising research and development expenses to address changing demand of end users. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of the key manufacturers in recent years.
Government investing in the development of Smart cities
Initially higher cost
Implementing IoT Technology
Exponential Growth of Mobile Phones
Challenge of Data Security and Privacy of the Commuters
The Global Smart Transportation Market is segmented by transportation mode, by solutions, by services, and by region in the projected years. The major shares of the market come from Service type, Deployment and integration services in Global Smart Transportation Market. On the other hand, by solutions, smart ticketing solution for this market is expected to grow at highest CAGR during the year 2019-2025.
Key Benefits for Stakeholders
Smart Transportation Manufacturers, Distributors and Retailers
Research and Consulting organization
Technology Standards Organizations, Forums, Alliances and Associations
Regulatory bodies, policy actors, and consumers.
By Transportation Mode
Professional & Consulting
Development & Integration
Support & Maintenance
Key Market Players
Cisco System, Inc.
General Electric Company (GE)
LG CNS Co., Ltd.
Tomtom International BV
WS Atkins PLC
Thales Group S.A.
(A brief overview of another 13 companies is also provided)
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