Smart Transportation Market to Reflect Robust Expansion during 2018 – 2023
The report “ Smart Transportation Market” The quick adoption of advanced analytics and visualization, and the expand use of outward data sources are the major drivers of the Smart Transportation Market. The report high point, potential growth opportunities in the coming years and covers a review of the market drivers, growth measure, competitive landscape, market dynamics, opposition and other Smart Transportation feature to the Smart Transportation Market.
Global Smart Transportation Market overview:
The report of global Smart Transportation Market includes the competitive landscape section which provides the full and in-depth analysis of the current market trends, changing technologies and developments that will be beneficial for the companies, which are competing in the market. The report lets you have an edge across the targeted regions with the comprehensive competitive framework. The report offers an overview of revenue, demand, and supply of data, futuristic cost, and growth analysis during the projected the year.
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The Smart Transportation Market is expected to witness sustained growth over the forecast period (2018-2023). The growth of the Smart Transportation market is driven as there is favourable growth in the industry is a major factor which will boost the global Smart Transportation market.
The Global Smart Transportation Market is expected to reach USD 116.85 Bn by 2023, expanding at a CAGR of 9%. Technological advancements are transforming the way people travel. Nowadays, vehicles are connected by an array of sensors, which guides them in traffic, and is very useful for vehicle management. With the advent of the Internet of Things (IoT), the vision of safe transportation is evolving at a rapid pace. Utilization of smart technologies with the intention of building smart cities is frantically expanding across the world. Over 1 billion connected things are installed around the globe under smart cities project initiatives.
Smart transportation is a seen as a major part of the smart city projects where infrastructures are playing an important role in providing a platform to implement a connected ecosystem. With the rise in urbanization globally, investments are pouring into the smart transportation market. The US Department of Transportation invested approximately USD 160 Bn in 2016 for smart cities solutions. These projects are intended to provide better parking and traffic management solutions.
The rise in population and urbanization across the world is increasing the need for an improved transport system for public purpose. Governments are taking initiatives in the development of smart transport network which is bringing investments for the development of smart transportation networks. Smart transportation is ensuring public safety as the prior availability of traffic and speed related information is reducing the number of accidents and delay. Smart transportation is environment-friendly and helps in keeping the ecosystem clean and safe. A smart vehicle reduces harmful vehicle emissions, which is a step towards a safe environment. These are some of the critical factors which are driving the market for the adaptation of smart transportation.
The Global Smart Transportation Market is segmented on the basis of Product Type, Application, End Use Industry and Region. Worldwide popularity of cloud-based technologies and related solutions are driving the adoption of smart transportation. The automotive industry is adopting cloud technology for navigation, social connection, infotainment, etc. Moreover, the data collected enhances the qualitative analysis of current transportation infrastructure and helping in the implementation of advanced solutions and increase safety. The continuous demand for improvement in public transport facilities, and safety is driving the smart transportation business.
The emerging trend of smart connected technology is boosting the acceptance of smart vehicles. The demand for smart parking is ever increasing due to massive traffic congestion and lack of parking space caused by growing number of vehicles. Using smart sensors and parking meters helps drivers check for free parking space and reserve it in advance.
Market segment by Regions/Countries, this report covers: The current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa) market size data for the Global Smart Transportation Market, by services: Network management services, road safety services, public transportation services, freight efficiency services, security services, automotive telematics, and communication services, this report investigates and analyzes the production, value, price, market share and growth rate for the top manufacturers, Smart Transportation data from 2018 to 2023.
The complexity of infrastructure and limited availability of data which can monitor transportation system is restraining the adoption of smart technology in the transportation industry. Lack of internet penetration in developing and underdeveloped countries is seen as a major challenge. The key players in the Global Smart Transportation Market are Siemens AG, Cubic Corporation, IBM, Accenture PLC, Cisco Systems, Xerox Corporation, General Electric Company, LG CNS, Thales Group, and Alstom SA.
Smart Transportation Questions Answered in this Report:
- What will the Smart Transportation Market size be in 2023?
- What are the Key factors driving the Global Smart Transportation Market?
- What are the challenges to market growth?
- Who are the Key players in the Global Smart Transportation Market?
- What are the market opportunities and threats faced by the Smart Transportation players?
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Table of Contents:
Global Smart Transportation Market Report 2018
There are 12 Chapters to thoroughly display the Smart Transportation Market. This report included the analysis of market overview, market characteristics, industry chain, competition landscape, historical and future data.
Chapter 1: Executive summary
Chapter 2: Global smart transportation market- market overview
Chapter 3: North America smart transportation market- market overview
Chapter 4: Europe smart transportation market- market overview
Chapter 5: Asia Pacific smart transportation market- market overview
Chapter 6: Latin America smart transportation market- market overview
Chapter 7: Middle East and Africa smart transportation market- market overview
Chapter 8: Competitive landscape
Chapter 9: Conclusion
Chapter 10: Appendix
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