Smart transportation market worth $104.19 billion by 2019

MarketsandMarkets recently conducted a study on the Smart Transportation Market by Solutions (Ticketing Management, Parking Management, Passenger Information, Traffic Management) & Services (Cloud, Professional, Business) Global Advancements, Application Roadmaps - Forecasts and Analysis 2014-2019, which concludes that the smart transportation market is expected to grow from US$45.05 billion in 2014 to US$104.19 billion by 2019. Congestion, emergence of cloud services, need of sustainable solutions, and
April 1, 2014 Read time: 2 mins
6418 MarketsAndMarkets recently conducted a study on the smart Transportation Market by Solutions (Ticketing Management, Parking Management, Passenger Information, Traffic Management) & Services (Cloud, Professional, Business) Global Advancements, Application Roadmaps - Forecasts and Analysis 2014-2019, which concludes that the smart transportation market is expected to grow from US$45.05 billion in 2014 to US$104.19 billion by 2019.

Congestion, emergence of cloud services, need of sustainable solutions, and hyper-urbanisation and globalisation is leading to building of more and more avenues for smart transportation market. With the increasing population, congestion has become a major problem in all developing economies, creating opportunities for development of smart transportation solutions and services. This report highlights the various services such as Cloud services, professional services, and business services.

There are a wide range of solutions such as ticketing management systems, parking management systems, passenger information systems, traffic management systems and integrated supervision systems. Traffic management system has the major market share in this market and is expected to grow in the forecast period. The future of these solutions can be urban tolling and freight systems to address problems of congestion and pollution. New technologies like V2I (vehicle to infrastructure), V2G (vehicle to grid) are expected to commercialise in the coming years. Cloud services have the largest market size in the overall smart transportation market by services, because of the advancement in performance and functions of smart devices. As businesses actively embrace cloud services, the need for more specialised technologies and infrastructures is on the rise.

Out of all the regions, North America is the largest revenue generator for services in the smart transportation market. Asia Pacific (APAC) is expected to show a significant rise in the revenues because of the budding inter-Asian and intra-Asian trade that exists between different countries of Asia.

The report also draws the competitive landscape of the smart transportation market, providing an in-depth comparative analysis of the technological and marketing strategies that the key players are adopting in order to gain an edge over their competitors. The key strategies followed by most companies in the global smart transportation market are geographic expansion, diversification, acquisitions and investment in R&D.

For more information on companies in this article

Related Content

  • Global traffic management market expected to grow to US$12.69 billion by 2018
    November 11, 2013
    New research from Research and Markets indicates that the overall traffic management market, which stands at a total revenue of US$2,580 million in 2013, is expected to grow to US$12.69 billion at a CAGR of 37.5 per cent from 2013 to 2018. Traffic management reduces congestion and promotes a regular flow of traffic. Traffic management also proves to be money saving as it reduces the wastage of fuel. It decreases the carbon emissions from the vehicles and thus supports to keep our environment clean. Trans
    Read More
  • ITS America’s latest report - vehicle electrification and the smart grid
    November 9, 2012
    The latest report from the Intelligent Transportation Society of America (ITS America), entitled Vehicle Electrification and the Smart Grid - The Supporting Role of Safety and Mobility Services, is to be presented in a webinar hosted by Dr Kenneth Laberteaux, Senior Principal Research Scientist at Toyota Research Institute-North America. The webinar, entitled What’s Driving All This Driving? will be held on 15 November, at 1 p.m. Eastern Time. Click here for more information and to register. The report is
    Read More
  • Development banks pledge US$175 billion for clean transport
    June 21, 2012
    Eight of the world’s largest multilateral development banks (MDBs) banks yesterday pledged to invest US$175 billion over the next 10 years to support sustainable transport in developing countries. The pledge was made at the UN Sustainable Development Conference in Rio de Janeiro (Rio+20) by the African Development Bank, Asian Development Bank, CAF- Development Bank of Latin America, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, Islamic Developme
    Read More
  • Global automotive cyber security market to be ‘worth US$31.8 million by 2021’
    July 12, 2016
    A new report from MarketsandMarkets projects the global automotive security market to grow at a CAGR of 13.3 per cent between 2016 and 2021, reaching a market size of US$31.8 million by 2021. According to the report, Automotive Cyber Security Market by Security Type, the major factors behind the growth of the global automotive cyber security market are the growing connected cars being introduced from OEMs and rising security concerns among end-users.
    Read More

Highlighted Content