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

  • Report highlights benefits of mobile ticketing
    August 11, 2014
    The latest report from management consultants Arthur D. Little’s, Riding the Mobile Ticketing Wave, highlights the benefits of mobile ticketing technologies and outlines five strategic questions that a mobile ticketing partnership should address. These are: Who will have the leading role in the mobile ticketing partnership network; Is the transport operator ready to invest in spite of uncertain business case projections; Are new mobile ticketing systems future proof or will they be overtaken by another i
    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
  • Do we need a new approach to ITS and traffic management?
    January 31, 2012
    In an article which has implications for the European Electronic Toll Service, ASECAP's Kallistratos Dionelis asks whether the approach we currently take to major ITS system implementations is always the best or healthiest. I was asked recently to write a paper on the technology-oriented future of transport. To paraphrase, I started with: "The goal of European policy-makers is to establish a transport system which meets society's economic, social and environmental needs, satisfying in parallel a rising dema
    Read More
  • The scourge of poor air quality and rising pollution levels and how they can be tackled
    December 20, 2021
    Arguably, air pollution is one of the greatest challenges facing our world today. It impacts people, economies and the environment. It is clear that policymakers must act swiftly to improve air quality. ITS has a huge role to play in providing solutions. Here, Swarco, as a solution provider, shares inside tips on how to use modern ITS to save lives, economies and the environment.
    Read More

Highlighted Content