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

  • Telvent urban mobility control
    December 3, 2012
    Telvent GIT, real-time IT solutions and information provider, is to implement its urban mobility control centre and traffic light installation maintenance service for the city of Castellón de la Plana, Valencia, Spain. The contract includes Telvent’s integrated service management platform, SmartMobility ICM, which will enable coordinated management of all aspects of the city’s urban mobility. Initial focus will be on centralised monitoring of smart traffic infrastructures and traveller information panels, a
    Read More
  • Countering congestion’s cost
    May 6, 2015
    A new report on the economic costs of traffic congestion predicts the problem will worsen significantly in future. Jon Masters reviews the figures and some suggested solutions. New figures on the rising economic and environmental costs of congestion have been published by the US traffic data specialist Inrix and the UK’s Centre for Economics & Business Research (Cebr). Their report finds the problem much bigger than previously thought.
    Read More
  • Investment by players in global IoT in intelligent transportation systems drives growth, finds TMR
    September 11, 2017
    Some of the major players in the global market for internet of things (IoT) in intelligent transportation systems are investing heavily in developing solutions, according to Transparency Market Research. As a result, it predicts that the market for IoT in intelligent transportation systems will rise at a 19.8 per cent CAGR during the period between 2017 and 2025. At this pace, the market is likely to attain a value of US$249.84 billion by the end of 2025 from US$41.57 billion in 2015.
    Read More
  • Manchester seeks smart but not selective transport solutions
    January 25, 2018
    Smarter transport relies on better communications both with travellers and between transport providers. Andrew Williams reports. Inrix’s prediction that the cost of traffic congestion will rise by 63% to £21bn per year by 2030 clearly illustrates that, in addition to the ongoing inconvenience and inefficiency, ongoing gridlock is a significant drain on the economy. It is against this backdrop that a Cisco-led consortium has launched CitySpire, a smart transport programme that uses location-based services a
    Read More

Highlighted Content