Smart Transportation Market Overview:

Smart Transportation Market Size was valued at USD 123 billion in 2023, and is expected to reach USD 376.25 billion by 2031, and grow at a CAGR of 15% over the forecast period 2024-2031.

Technological advancements to improve customer experience, growing government initiatives and PPP models for smart transportation, rising urban population and high demographic rates, and growing adoption of IoT and automation technologies to enhance technological optimization are the major growth drivers for the market.

Smart Transportatione Market Revenue Analysis

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Using technology like as automobile navigation, traffic signal control systems, speed cameras, and other real-time data and computational technologies, it allows numerous users to be more coordinated and informed. Infrastructure upgrades, regulatory requirements for sustainable fuels for public transportation vehicles, and the deployment of systems to efficiently deliver mobility services to ever-expanding cities are all ways to attain this smart transportation information. 



  • The interconnection of items enables a better understanding of client behaviour and, as a result, better decision-making.

  • Road traffic management systems, and incident management systems are benefited from high-performance networking technology.

  •  Smart connectivity and control devices will use the cloud to collect and exchange it with a centralized control centre.

  • Increased acceptance of technology has enabled better connectivity, resulting in a full rebuild of the smart transportation ecosystem.  


  • Smart transportation systems solutions lack standardization & uniformity, causing compatibility concerns.

  • Different countries have distinct communication & protocols, which makes it difficult to sell their products globally.

  • The lack of globally enforceable traffic management technology, methods, & specifications restricts industry growth. 


  • With significant technology developments, semi-autonomous and autonomous vehicles are rapidly evolving.

  • The development of driverless vehicles is becoming increasingly popular in the transportation industry.


  • Integrating smart technology components with traditional transportation systems is exceedingly difficult due to a lack of an open interface.

  • Communication gaps would result from the integration challenges. Upgrading legacy systems necessitates large investments.


The COVID-19 problem has caused enormous damage to the transportation industry, causing uncertainty in all markets. The transportation business has seen a significant drop as most countries enforce isolation policies. Governments in many regions declared total lockdown and temporary industry shutdowns, resulting in border restrictions that hampered the movement of transportation and logistics services.

With an increase in demand for proper traffic management systems and increased transportation infrastructure facilities for the safety of passengers, industry players have chosen creative methods to increase development potential in the worldwide smart transportation market.


By Transportation type:

  • Maritime

  • Roadways

  • Railways

  • Airways

By Solution:

  • Ticketing Management System

  • Parking Management and Guidance System

  • Integrated Supervision System

  • Traffic Management System

  • Passenger Information

  • Freight Information

  • Vehicle Telematics

  • Others

By Services:

  • Business

  • Professional

  • Cloud Services

  • Consulting

  • Deployment and Integration

  • Support and Maintenance

By Application:

  • Mobility as a Service

  • Route Information and Route Guidance

  • Public Transport

  • Transit Hubs

  • Connected Cars

  • Video Management

  • Others


In 2023, North America held the greatest proportion of the global smart transportation market. The United States is the primary growth engine in the North American market. This is due to the United States government's increased efforts to upgrade transportation facilities and adopt intelligent transportation systems (ITS).

The Asia Pacific market is predicted to grow at the fastest rate during the forecast period, owing to the region's rising deployment of smart city and smart infrastructure projects. The key growth countries are China, Japan, India, and South Korea.

Smart-Transportatione-Market by Region

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  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America


The assessment of important companies in the smart transportation industry supplying various software and services across all modes of transportation is included in the research. It profiles prominent smart transportation vendors throughout the world. Thales Group (France), Huawei Technologies Co., Ltd. (China), Siemens AG (Germany), IBM Corporation (US), Cisco Systems, Inc. (US), SAP (Germany), Cubic Corporation (US), Alstom (France), Bombardier Inc. (Canada), Toshiba (Japan), Harris Corporation (US), Saab AB (Sweden), Veson Nautical (Massachusetts), BASS Software (Norway), Bentley Systems (US), Indra Sistem (Norway).

Huawei Technologies Co., Ltd. (China)-Company Financial Analysis

Company Landscape Analysis


Smart Transportation Market Report Scope:

Report Attributes Details
 Market Size in 2023  US$ 123 Bn
 Market Size by 2031  US$ 376.25 Bn
 CAGR   CAGR of 15% From 2024 to 2031
 Base Year  2023
 Forecast Period  2024-2031
 Historical Data  2020-2022
 Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
 Key Segments • By Transportation type (Maritime, Roadways, Railways, Airways)
• By Solution (Ticketing Management System, Parking Management and Guidance System, Integrated Supervision System, Traffic Management System, Passenger Information, Freight Information, Vehicle Telematics, Others)
• By Services (Business, Professional, Cloud Services, Consulting, Deployment and Integration, Support and Maintenance)
• By Application (Mobility as a Service, Route Information and Route Guidance, Public Transport, Transit Hubs, Connected Cars, Video Management, Others)
 Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
 Company Profiles Thales Group, Huawei Technologies Co., Ltd., Siemens AG, IBM Corporation, Cisco Systems, Inc., SAP, Cubic Corporation, Alstom, Bombardier Inc., Toshiba, Harris Corporation, Saab AB, Veson Nautical, BASS Software, Bentley Systems, Indra System
 Key Drivers • The interconnection of items enables a better understanding of client behaviour and, as a result, better decision-making.
• Smart connectivity and control devices will use the cloud to collect and exchange it with a centralized control centre.
 Opportunities • With significant technology developments, semi-autonomous and autonomous vehicles are rapidly evolving.
• The development of driverless vehicles is becoming increasingly popular in the transportation industry.


Frequently Asked Questions

Ans:- The Market Size was valued at USD 123 billion in 2023 and grow at a CAGR of 15% over the forecast period 2024-2031.

Ans:- In 2023, traffic management systems accounted for the greatest share of the whole market, at more than 33%.

Ans:- Smart connectivity and control devices will collect and exchange data in the cloud and increase the acceptance of technology are the primary market drivers for the smart transportation market.

Ans:- The expansion of the market is supplemented by the introduction of smart cities, smart mobility services, smart parking services, and IoT tracking.

Ans:- Raw material vendors, Distributors/traders/wholesalers/suppliers, and regulatory authorities, including government agencies and NGOs, are the main stakeholders in the market.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value Chain Analysis


6. Porter’s 5 forces model


7.  PEST Analysis


8. Global Smart Transportation Market Segmentation, by Transportation type

8.1 Maritime

8.2 Roadways

8.3 Railways

8.4 Airways

9. Global Smart Transportation Market Segmentation, by Services

9.1 Business

9.2 Professional

9.3 Cloud Services

9.4 Consulting

9.5 Deployment and Integration

9.6 Support and Maintenance

10. Global Smart Transportation Market Segmentation, by Application

10.1 Mobility as a Service

10.2 Route Information and Route Guidance

10.3 Public Transport

10.4 Transit Hubs

10.5 Connected Cars

10.6 Video Management

10.7 Others

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2  Canada

11.2.3  Mexico

11.3 Europe

11.3.1  Germany

11.3.2  UK

11.3.3  France

11.3.4  Italy

11.3.5  Spain

11.3.6  The Netherlands

11.3.7  Rest of Europe

11.4 Asia-Pacific

11.4.1  Japan

11.4.2  South Korea

11.4.3  China

11.4.4  India

11.4.5  Australia

11.4.6  Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1  Israel

11.5.2  UAE

11.5.3  South Africa

11.5.4  Rest

11.6 Latin America

11.6.1  Brazil

11.6.2  Argentina

11.6.3  Rest of Latin America

12.Company Profiles

12.1 Thales Group (France)

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Huawei Technologies Co., Ltd. (China)

12.3 Siemens AG (Germany)

12.4 IBM Corporation (US)

12.5 Cisco Systems, Inc. (US)

12.6 SAP (Germany)

12.7 Cubic Corporation (US)

12.8 Alstom (France)

12.8 Bombardier Inc. (Canada)

12.9 Toshiba (Japan)

12.10 Harris Corporation (US)

12.11 Saab AB (Sweden)

12.12 Veson Nautical (Massachusetts)

12.13 BASS Software (Norway)

12.14 Bentley Systems (US)

12.15 Indra Sistem (Norway).

13.Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share analysis

13.3 Recent Developments


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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

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Data Bank Validation

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