Traffic management systems top earner for the smart transportation market, says report

According to Research and Markets’ latest report, smart transportation solutions have been successfully deployed in some of the metropolitan cities around the world. The solutions have proven to be proficient in diminishing the traffic congestion issues. The global smart transportation market size was estimated to be US$46.72 Billion in 2015 and is projected to reach US$138.76 billion by 2020, growing at a CAGR of 24.3 per cent from 2015 to 2020. The report, Smart Transportation Market by Solutions (Tic
August 21, 2015 Read time: 2 mins
According to 7527 Research and Markets’ latest report, smart transportation solutions have been successfully deployed in some of the metropolitan cities around the world. The solutions have proven to be proficient in diminishing the traffic congestion issues. The global smart transportation market size was estimated to be US$46.72 Billion in 2015 and is projected to reach US$138.76 billion by 2020, growing at a CAGR of 24.3 per cent from 2015 to 2020.

The report, Smart Transportation Market by Solutions (Ticketing Management, Parking Management, Traffic Management, Smart Signalling, Multimodal Information System, Passenger Information Systems, Cloud Services, Business Services) - Global Forecast to 2020, claims that 1968 Accenture, 8158 Alstom, 1028 Cisco Systems, 940 GE Transportation, 62 IBM Corporation, 509 Indra, 81 Kapsch, 6203 LG CNS Corporation and 4186 Xerox Corporation are the leading players in the smart transportation market.

Recent smart transportation market developments include the introduction of BIG-IP and Local Director traffic management software by F5 Networks and Cisco, while IBM has partnered with the 2100 New Jersey Turnpike Authority to deploy a new smart traffic system on two of its busiest highways - Garden State Parkway and the Turnpike.

LG CNS has launched a 3D CCTV camera armed with video analysis engine and equipped with smart vision sensors, which monitor and capture frequent human patterns and raise alarms in the event of an abnormality.

GE has been selected by Singapore Transport Authority (STA) to supply automated train control and supervision, signalling systems for Thomson and Eastern Lines valued at US$159 million.
Detection, Monitoring & Machine Vision

For more information on companies in this article

Related Content

  • Developments in security for wireless communications networks
    July 20, 2012
    David Crawford looks at new developments in security for wireless communications networks. Wireless communications - including mobile phone links - are well recognised as a key transport technology. They are low-cost, easily installed, well supported by the wider IT industry and offer the protocols of choice for much metropolitan area networking on which transport applications can piggyback.
    Read More
  • Transcore challenges perceptions, targets broader markets
    December 13, 2012
    In August this year, Tracy Marks took over the presidency of TransCore, succeeding John Simler, who has moved on to other roles within parent company Roper Industries. A 19-year veteran of the company, Marks describes himself as having been groomed for the job. Previously responsible for TransCore’s Southern region in the US, he also took on a series of roles, including the top job at United Toll Systems, as part of moves which were carefully choreographed to prepare him for where he is now. The appointmen
    Read More
  • US transit networks gear up for chip cards and mobile payments
    January 15, 2014
    Washington Metro has joined Chicago and New York in making plans to accept contactless bank payment cards at the turnstile, as a mass-market switch to EMV-based chip cards appears increasingly likely. Washington Metro has awarded Accenture a US$184 million contract to replace the existing fare collection systems for Metrorail, Metro-operated parking facilities, Metrobus and MetroAccess services. The new system will enable passengers to continue to use existing SmarTrip cards, while expanding fare paym
    Read More
  • Data exploits parking potential
    March 11, 2015
    David Crawford parallel parks with innovations in two continents. Surveys of US cities indicate that drivers searching for parking can account for up to 37% of all urban traffic congestion. A 2011 study by IBM of 20 cities around the world found that nearly six out of ten drivers had abandoned their search for a parking space at least once; while motorists generally spent on average 20 minutes looking for a sought-after spot.
    Read More

Highlighted Content