Smart transportation market forecasts

Research and Markets’ latest report, Smart Transportation Market - Global Advances, Forecasts and Analysis (2014 - 2019), indicates that the global smart transportation market is expected to grow at a Compound Annual Growth Rate (CAGR) of 18.3 per cent from 2014 to 2019. Congestion, hyper-urbanisation and globalisation, need of sustainable solutions and emergence of cloud based services are the major drivers for this market.
April 25, 2014 Read time: 2 mins
7527 Research and Markets’ latest report, Smart Transportation Market - Global Advances, Forecasts and Analysis (2014 - 2019), indicates that the global Smart transportation market is expected to grow at a Compound Annual Growth Rate (CAGR) of 18.3 per cent from 2014 to 2019.

Congestion, hyper-urbanisation and globalisation, need of sustainable solutions and emergence of cloud based services are the major drivers for this market.

The report consists of the opportunity analysis of technology adoption across all solution and services market. The report focuses on estimating and forecasting the market potential of the major sub-segments of transportation, which are ticketing management, parking management and guidance, passenger information, integrated supervision and traffic management.

The report also covers the market potential for the services industry catering to Smart transportation. These services include business services, professional services, and cloud services, covering new technologies such as business analytics and cloud computing. The report also focuses on technologies and standards and analyses market drivers, restraints, trends and opportunities, along with a study on key players, and the competitive outlook.

Smart transportation entails providing comprehensive real-time, data-driven capability for designing and implementing policies and operational strategies for traffic, public transport, and urban planning. The market is fuelled by the advancements across the information and communication technology (ICT) industry.
Location Based Systems

For more information on companies in this article

Related Content

  • Integrating traffic systems improves management and control
    April 25, 2012
    Following a successful trial in 2007, VicRoads has adopted Streams Motorway Management from Transmax as its primary traffic management and control system Throughout the world, the avoidable social cost of traffic congestion continues to rise each year with increased motorisation, urbanisation and population growth. Traffic congestion is responsible for an increase in travel times, vehicle operating costs and carbon emissions. In 2007, VicRoads commissioned Streams Motorway Management for the M1 Monash Freew
    Read More
  • Business Secretary opens UK centre for smart transport technology
    June 12, 2014
    UK Business Secretary Vince Cable today opened a new innovation centre for smart transport technology that will transform the movement of people and goods around the world, generating up to £90 billion per year for the UK by 2025. Based in Milton Keynes, the Transport Systems Catapult’s ‘Imovation Centre’ will help make journeys more seamless, smart, and efficient. It will support business growth in this emerging market, positioning the UK as a global leader in Intelligent Mobility products and services
    Read More
  • Abu Dhabi seeks safe and efficient multi-modal ITS solutions
    December 17, 2014
    Abu Dhabi’s Department of Transport is planning to roll out its second phase ITS Strategy and Action Plan through to 2019 which will deploy a host of innovative multimodal ITS solutions. The United Arab Emirates (UAE) is continuing to experience rapid growth in both its economy and population and none more so than its capital, Abu Dhabi. To cope with the current expansion, and in anticipation of future growth, the Abu Dhabi Surface Transport Master Plan has been devised by its Department of Transport and th
    Read More
  • Connected car devices market predicted to grow at 16.3 per cent by 2021
    April 6, 2017
    The latest research report from MarketsandMarkets indicates that the connected car devices market is projected to grow at a CAGR of 16.3 per cent from 2016 to 2021, to reach US$57.15 Billion by 2021. Some of the major factors responsible for the growth of the market are government regulations for safety and increasing electrification of vehicles. Connected car devices with dedicated short range communication (DSRC) as connectivity use short range communication technologies such as radar and Lidar, which
    Read More

Highlighted Content