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

  • Daimler and Volvo take lead in European implementation of V2V
    March 7, 2014
    New analysis from Frost & Sullivan, Strategic Analysis of the European Market for V2V and V2I Communication Systems, expects more than 40 per cent of vehicles to use vehicle to vehicle (V2V) communication technologies by 2030. Daimler and Volvo are anticipated to lead the implementation of V2V communication systems among vehicle original equipment manufacturers (OEMs) across Europe. Vehicle to infrastructure (V2I) communication systems have also been finding significant traction in Europe, especially in
    Read More
  • ADAS ‘fastest growing sector’ in automotive field
    July 7, 2015
    According to the latest research by RnR Market Research, Advanced Driver Assistance Systems (ADAS) has been one of the fastest-growing sectors in automotive field and is expected to register a CAGR of 32 per cent during 2014-2019. Currently, developed countries in Europe and America have had nearly eight per cent of new vehicles equipped with ADAS, in contrast to about two per cent in emerging markets. It is predicted that over 25 per cent of new vehicles will carry ADAS by 2019 globally. The Global a
    Read More
  • Contactless tickets forecast to reach 1.7 billion in 2018
    February 6, 2014
    ABI Research has forecast that a combination of memory and microcontroller smart cards alongside disposable ticketing solutions will reach shipments totalling 1.7 billion units in 2018. The primary drivers include the increasing move to national standards and the enablement of near field communications (NFC) and open-loop payments. This trend is a consistent feature across all continents with particular progress within the UK, US, Australia, Germany, Turkey, and the BRIC countries forming a growth engine
    Read More
  • European Commission approves acquisition of Abertis by Atlantia
    October 17, 2017
    The European Commission (EC) has approved the proposed acquisition of Abertis by toll road and infrastructure management company Atlantia after concluding that the merger would not endanger competition in any of the markets concerned. The decision has been reached through an investigation into the proposed transaction and has been cleared by the EC under the EU Merger Regulation.
    Read More

Highlighted Content