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