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

  • Riyadh aims to build world’s biggest public transport system in five years
    May 15, 2017
    The City of Riyadh, Saudi Arabia, is building the world's largest public transit system --- in just five years. It will be presenting the project at the Palais des Congrès, in Montreal, Quebec, during the global summit of the Union Internationale des Transports Publics (UITP), this week. Managed by The High Commission for the Development of Arriyadh (HCDA), the project includes six metro lines covering 176 km and 85 stations, in addition to 24 bus routes covering 1,900 km and 3,000 stations and stops. At a
    Read More
  • GSM-R market coverage grows nearly 50 per cent
    December 19, 2014
    GSM-R has been used in Europe for more than ten years to provide voice and data communications for railway and acts as a radio bearer for train control messages. Mandated by the European Commission and supported by the dynamic railway industry in the region, the GSM-R system has established a significant market in Europe. Over the past few years the market extended to regions outside Europe including Asia-Pacific, Middle East, and Africa. Led by Nokia, Kapsch CarrierCom, and Huawei, GSM-R track coverage
    Read More
  • Indra to equip Buenos Aires train network with access control and ticketing
    February 16, 2016
    Spanish multinational Indra is to deploy its access control and ticketing technology across the Buenos Aires Metropolitan Area (BAMA) rail network, one of the world's largest with more than 200 stations. The contract also includes system maintenance during a two-year period. Argentina's national rail operator has awarded Indra the contract, worth US$39 million, under which the firm will equip eight lines with 1,400 access control machines, or turnstiles; 170 disabled entrances; 200 automatic recharging m
    Read More
  • New York to pilot cordon-based congestion charging
    March 16, 2012
    From 2009, if all goes to plan, New York will run a three-year cordon-based congestion charging pilot - the first in the US. Upon accession, US Secretary of Transportation Mary Peters signalled her intention to continue her predecessor Norman Mineta's initiative to specifically target road congestion. And, with initiatives such as the US Department of Transportation's (USDOT's) Urban Partnership Program actively promoting tolling as a part of a compound solution to the problem, the way was opened for the co
    Read More

Highlighted Content