Smart Transportation Market Overview:
Smart Transportation Market Size was valued at USD 105.48 billion in 2022, and is expected to reach USD 232.78 billion by 2030, and grow at a CAGR of 10.4% over the forecast period 2023-2030.
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.
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.
MARKET DYNAMICS:
KEY DRIVERS:
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.
RESTRAINTS:
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.
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.
CHALLENGES:
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.
IMPACT OF COVID-19:
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.
KEY PLAYERS:
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).
MARKET SEGMENTATION:
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:
In 2015, 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.
REGIONAL COVERAGE:
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
Report Attributes | Details |
Market Size in 2022 | US$ 105.48 Bn |
Market Size by 2030 | US$ 232.78 Bn |
CAGR | CAGR of 10.4% From 2023 to 2030 |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Historical Data | 2020-2021 |
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. |
Ans:- The Market Size was valued at USD 95.55 billion in 2021 and grow at a CAGR of 10.4% over the forecast period 2022-2028.
Ans:- In 2021, 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
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 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
14.Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
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.
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.
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
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
E-commerce Logistics Market Overview: The E-commerce Logistics Market
Report Scope & Overview: Protective Packaging Market Size was valued at USD 3
Electric Toothbrush Market Overview: Electric Toothbrush Market size was valued at USD 4.06 billio
Same-day Delivery Market Overview: The
Report Scope & Overview: Online On-Demand Laundry Market size
Report Scope & Overview: Sports Betting market size was valued
Hi! Click one of our member below to chat on Phone