Smart Transportation Market Size & Report

Smart Transportation Market Size & Analysis By Solution (Ticketing Management System, Parking Management System, Integrated Supervision System, Traffic Management System), By Services, By Region, And Segment Forecasts, 2014 - 2024

Published: December 2016  |  125 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-246-4

Industry Insights

The global smart transportation market size was valued at USD 44.26 billion in 2015. The increasing focus of government in building smart cities is anticipated to drive its demand as it is an integral part of the smart city projects.

The key issues affecting most of the cities include lack of good quality and safe public transportation, reduced road safety concerns, inadequate capacity of manage public transportation, poor traffic management, overcrowded road network, theft, poor road conditions, parking issues, and lack of modal options (including pedestrian walkways). The system is anticipated to address the challenges posed by the growing number of megacities in both developing and developed regions in maintaining the smooth traffic flow, safety, and an environmentally friendly and sustainable urban environment.

Global smart transportation market, by solution, 2015 - 2024 (USD Billion)

Global smart transportation market

The rising number of vehicles, growing population, and hyper-urbanization are expected to create a need for upgrading the existing system. The growing number of smart cities and increasing adoption of Internet of Things are expected to open new growth opportunities.

The government’s initiative to curb greenhouse emission is anticipated to boost the industry growth over the forecast period. The long downtime and huge capital required for replacing existing infrastructure are anticipated to obstruct the industry growth over the forecast period.

Solution Insights

The key solutions available in the market include the integrated supervision system, parking management system, traffic management system, and ticketing management system. Parking management is an intelligent system used for optimizing parking programs and delivers convenient solutions for drivers. These systems include ticket dispensers either at entry or at exit, decentralized payment collection system, and exit ticket reader. The key parking management solution includes access control, security, level wise vehicle counting, guidance display system, and ticketing & revenue management.

Traffic management systems are used for managing traffic in the city and minimizing traffic jams on the road. The key traffic management system includes the smart signaling system, traditional signaling & video surveillance system, route guidance system, and intelligent video management system. The rising traffic congestion in major cities across the globe owing to the lack of proper parking space, rising number of vehicles, poor traffic management, and inefficient existing infrastructure & system are anticipated to boost the industry growth.

Services Insights

The smart transportation market can be classified based on services into business, cloud, and professional service. The rising demand for the storage of the large amount of data generated every day is expected to propel the demand for cloud service over the forecast period. The increasing requirement for consulting services for upgrading the existing system to the newly advanced system is expected to drive demand for professional service.

Europe smart transportation market, by services, 2015 (USD Billion)

Europe smart transportation market

Regional Insights

The North American market accounted for over 27% of the global market share in 2015. The rising government investment in transport infrastructure is expected to propel the regional growth over the next eight years.

The Asia Pacific smart transportation market is anticipated to witness the fastest growth over the forecast period, owing to the government initiatives. The growth is relatively higher in China, India, South Korea, and Japan. The Indian government’s initiative to build 100 smart cities is anticipated to create new avenues for the industry players.

The European region is expected to present significant opportunities for industry expansion, owing to the early adoption technology and rising traffic congestion in the major cities. Directive 2010/40/EU was adopted in July 2010 in the member countries of the European Union in order to accelerate the deployment of innovative transport systems across Europe. Such government regulations are expected to favor industry over the next eight years.

Competitive Insights

Key industry participants include Accenture PLC, International Business Machine (IBM) Corporation, Kapsch, Alstom, SA, Cisco System, Inc., and General Electric Company (GE). Other key vendors include Indra Sistema S.A., LG CNS Corporation, Cubic Corporation, and Xerox Corporation. Alstom offers solution from high-speed trains to metros and tramways and associated modernization, maintenance, infrastructure, and signaling solutions.

In March 2016, Cubic Corporation announced the pilot trial of a new solution, NextAgent, with EssenerVerkehrs-AG (EVAG) in Germany. The system is a hybrid of a ticket vending machine with a video-linked call center and virtual walk-up ticket office. In December 2015, Cubic Corporation announced the opening of a mobility innovation center in London with a focus of developing technology that could address the global transportation needs of the future.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historic data

2014 - 2015

Forecast period

2016 - 2024

Market representation

Revenue in USD Million & CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, Latin America, and MEA

Country scope

U.S., Canada, UK, Germany, India, Japan, China, Brazil, and Mexico

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific market information that is not currently within the scope of the report, we will provide it to you as a part of the customization


Segments Covered in the Report

Grand View Research has segmented the global smart transportation market on the basis of solution, service and region:

  • Solution Outlook (Revenue, USD Million; 2014 - 2024)

    • Ticketing management system

    • Parking management system

    • Integrated supervision system

    • Traffic management system

  • Services Outlook (Revenue, USD Million; 2015 - 2024)

    • Cloud services

    • Business services

    • Professional services

  • Regional Outlook (Revenue, USD Million; 2014 - 2024)

    • North America

    • Europe

    • Asia Pacific

    • Rest of the World

Key questions answered by the report
Request for Customization

Choose License Type

Single User - $4,950
Multi User - $5,950
Library Access - $7,950

Buy Chapters or Sections

Avail customized purchase options to meet your research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert. Request for a free product review before report purchase.

  • Custom research service

    Custom research service

    Speak to the report author to design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service excellence represented in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • BOA