Smart Transportation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021
Growing demand for traffic management system and improved transportation infrastructure for passenger safety are driving demand for smart transportation system. The smart transportation systems are equipped with various information and communication technologies such fiber optics, global positioning system (GPS), and Internet of Things (IoT). Combination of these technologies enables connection of vehicle in remote locations through real time navigations. This, further, aids in preventing traffic congestions and collisions.
For example, intelligent traffic control systems collect live traffic data. Further, the data helps regulatory authorities in avoiding traffic congestion and divert it in less busy area. Hence, risk of collision could also be minimized.
Considering several advantages offered by smart transportation system, it is being implemented in various cities. Moreover, government bodies are investing in smart cities projects. Subsequently, smart transportation system will also be adopted. Thus, smart transpiration market will also be boosted.
For example, in February 2016, the UK government invested US $ 25.8 million in smart transportation. The investment aimed at strengthening the smart mobility infrastructure of the U.K. across globe.
Railways segment is witnessing high adoption rate of smart transportation system. Globalization and urbanization have emerged as key demand driving factors for smart railway software. Implementation of smart transportation software provides operational efficiency, safety, and reliable services to passengers.
Rising number of rail accidents has been fuelling implementation of smart sensor technologies in railways. These facilities facilitate easy detection of defects in railway tracks, bearings, and wheels. This, further, minimizes risk of accidents.
In addition, government bodies in various countries are taking up initiatives for development of smart railway systems. Hence, smart transportation market is anticipated to grow subsequently.
Some of the key players operating in the global smart transportation market are General Electric Company, IBM Corporation Inc., WS Atkins, Cisco Systems, Accenture PLC, Cubic Corporation, Thales Group, and Siemens AG.
The global smart transportation market has been valued at USD 45.10 billion in 2014, growing at a CAGR of 18.5% from 2015 to 2021. The smart transportation market finds their application in developing smart networks for better coordination of traffic. In addition, the concept of smart transportation is majorly applicable in smart cities. They ensure better traffic management, safety of the commuters and smart parking of vehicles.
The global smart transportation market is segmented by regions into North America, Europe, Asia Pacific (APAC) and Rest of the World (RoW). The market is primarily being driven due to increasing demand for smart networks. In addition, the rising awareness of traffic congestion is also aiding to the growth of the market.
In 2015, Europe lead the market of smart transportation and the region will be dominating during the forecast period. The application of smart transportation for better coordination of traffic is acting as a driver for the market. North America follows Europe accounting for more than 25% of the global market share. However, Asia Pacific is the fastest growing region due to the presence of major economies such as China, Japan and India. Rest of the world is expected to maintain steady growth due of the developing regions as the application of smart transportation involves high initial investment.
The global smart transportation market by solutions is categorized into ticketing management systems, parking management systems, integrated supervisory systems and traffic management systems. The traffic management system has the highest market share in 2015 and is expected to dominate the market during the forecast period. The growth is attributed to the demand for better traffic management by using innovative toll systems.
On the basis on services, the smart transportation market can be segmented into: cloud services, business services and professional services. Cloud services have dominance in the market with its market share accounting to more than 40% of the global market. Business services follow the cloud services. Cloud services are becoming increasing popular across various organization due absence of physical devices. Moreover, the application cloud services enables the users to access their data remotely. Thus, cloud services are very helpful in efficient management of traffic.
Smart transportation uses information technology and artificial intelligence to efficiently manage and coordinate transportation systems. The application of smart transportation network allows the travelling population to have better knowledge of the traffic for better coordination. In addition, the use of smart transportation also ensures safety for the drivers. The market is experiencing growth due to their increasing demand across all geographic locations.
The global smart transportation market is expected to grow significantly during the forecast period. The market is primarily being driven due to the rising demand for efficient transportation networks across the globe. In addition, the growth in sale of automobiles is resulting in traffic congestion. This in return is creating the demand for smart transportation market. Furthermore, the application of smart transportation systems ensures safety of the drivers. The rising awareness for safety is ensuring the need for better road safety standards which fuelling the need for smart transportation systems. Various governments such as the UK government have shown their interest to implement smart transportation networks across their countries. Moreover, the emerging idea of building smart cities is also creating an opportunity for the smart transportation market. In addition, the application of smart transportation also ensures better parking management by coordinating with the drivers and helping them to easily locate the parking spaces.
However, the high installation cost is acting as a restraint for the market. Moreover the use of smart transportation requires a large database of road networks which may not be available with the developing nations. This is acting as a restraint for the market. Currently, Europe has the largest market share in the smart transportation market and Asia Pacific is expected to be fastest growing region during the forecast period. By solutions, traffic management is expected to dominate the market during the forecast period. The reason is attributed to the growing traffic congestion which is aiding to demand for smart tolling systems and freight management services. By services, the cloud based services will be dominating the market during the forecast period.
The global smart transportation market report has been analyzed and estimated in terms of revenue (USD Billion) from 2015 to 2021. In addition, we have covered the drivers and the restrains effecting smart transportation market and its impact over the forecast period. Furthermore, the future opportunities affecting the market have also been discussed.
The region segmentation for the smart transportation market has been done by North America, Europe, Asia Pacific and Rest of the World (RoW), and these have been estimated in terms of revenue (USD billion). In addition, the report segments the market based on the solutions, which include ticketing management systems, parking management systems, integrated supervisory systems and traffic management systems. The smart transportation system can also be segmented by services. It segments the market on the basis of services as cloud services, business services and professional services. All these segments have also been estimated on the basis of geography in terms of revenue (USD billion).
For better understanding of the smart transportation market, we have provided with a key trend analysis for the segments. In addition, the market attractiveness has also been provided to give a better understanding of the various segments globally. Furthermore, the global market share of the key industry players has also been discussed for a better study of the current trends in the market.
Furthermore, the report also provides the profiles of the leading players on the basis of their company overview, financial overview, key developments, historical roadmap and business strategies adopted by the players in the smart transportation market. The major players profiled in the report include: Accenture Plc, Seimens, IBM, Cubic Corporation, GE Transportation and LG CNS among others.
Smart Transportation Market: By geography
- North America
- Asia Pacific
- Rest of the World
Smart Transportation Market: By Solutions
- Ticketing management system
- Parking management system
- Integrated supervisory system
- Traffic management system
Proximity and displacement sensors Market: By Services
- Cloud services
- Business services
- Professional services
The report provides a cross-sectional analysis of all the above segments with respect to the following regions:
- North America
- Asia Pacific (APAC)
- Rest of the World (RoW)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Chapter 1 Preface
1.1 Research description
1.2 Research scope
1.3 Research methodology
Chapter 2 Executive Summary
Chapter 3 Market overview
3.2 Key trend analysis
3.3 Market drivers
3.4 Market Drivers
3.4.1 Supply Side
220.127.116.11 Need for better safety, security, and connectivity
3.4.2 Demand Side
18.104.22.168 Rise in concept of smart cities
3.4.3 Impact Analysis of Drivers
3.5 Market Restraints
3.5.1 High initial investment
3.5.2 Lack of data availability
3.6 Market Opportunities
3.6.1 Increasing demand for smart services across various regions
3.7 Market attractiveness, by services, 2020
3.8 Market share of key players
Chapter 4 Global Smart Transportation Market Analysis, by Solutions 2014-2021 (USD Billion)
4.2 Ticketing Management Systems
4.2.1 Ticketing management systems market size and forecast, 2014 – 2021 (USD billion)
4.3 Parking Management Systems
4.3.1 Parking management systems market size and forecast, 2014 – 2021 (USD billion)
4.4 Integrated supervision systems
4.4.1 Integrated supervision systems market size and forecast, 2014 – 2020 (USD billion)
4.5 Traffic management systems
4.5.1 Traffic management systems market size and forecast, 2014 – 2020 (USD billion)
Chapter 5 Global Smart Transportation Market Analysis, by Services 2014-2021 (USD Billion)
5.2 Cloud Services
5.2.1 Cloud services market size and forecast, 2014 – 2021 (USDbillion)
5.3 Professional Services
5.3.1 Professional services market size and forecast, 2014 – 2021 (USD billion)
5.4 Business services
5.4.1 Business services market size and forecast, 2014 – 2021 (USD billion)
Chapter 6 Global Smart Transportation Market Analysis by Geography 2014-2021 (USD Billion)
6.2 North America smart transportation market
6.2.1 North America smart transportation market size and forecast, 2014 – 2021 (USD billion)
6.3 Europe smart transportation market
6.3.1 Smart transportation market size and forecast in Europe, 2014 – 2021 (USD billion)
6.4 Asia Pacific smart transportation market
6.4.1 Smart transportation market size and forecast in Asia Pacific, 2014 – 2021 (USD billion)
6.5 RoW smart transportation market
6.5.1 RoW smart transportation Market Size and Forecast, 2014 – 2021 (USD billion)
Chapter 7 Company Profiles
7.1 Accenture Plc
7.2 Alstom Sa
7.3 Cisco Systems
7.4 GE Transportation
7.5 Cubic Corporation
7.8 LG CNS
List of Tables
TABLE 1 Global Smart Transportation Market Snapshot
TABLE 2 Smart transportation market size and forecast, by Services, 2013 – 2020 (USD million)
TABLE 3 Drivers for smart transportation market: Impact analysis
TABLE 4 North America smart transportation market size and forecast by Solutions, 2014 – 2021 (USD billion)
TABLE 5 North America smart transportation market and forecast by Services, 2014 – 2021 (USD billion)
TABLE 6 Europe smart transportation market size and forecast by Solutions, 2014 – 2021 (USD billion)
TABLE 7 Europe proximity and displacement sensors market and forecast by Industry, 2014 – 2021 (USD billion)
TABLE 8 Asia Pacific smart transportation market size and forecast by Solutions in Asia Pacific, 2014 – 2021 (USD billion)
TABLE 9 Asia Pacific smart transportation market and forecast by Services, 2014 – 2021 (USD billion)
TABLE 10 RoW smart transportation market size and forecast by Solutions, 2014 – 2021 (USD billion)
TABLE 11 RoW smart transportation market and forecast by Services, 2014 – 2021 (USD billion)
List of Figures
FIG. 1 Market segmentation: Global Smart Transportation Market
FIG. 2 Global smart transportation market attractiveness, by services
FIG. 3 Market share by key smart transportation vendors, 2014 (Value %)
FIG. 4 Global Smart Transportation market share and forecast by Solutions, 2014 vs. 2021 (Value %)
FIG. 5 Ticketing management systems market size and forecast, 2014 – 2021 (USD billion)
FIG. 6 Parking management systems market size and forecast, 2014 – 2021 (USD billion)
FIG. 7 Integrated supervision systems market size and forecast, 2013 – 2020 (USD billion)
FIG. 8 Traffic management systems market size and forecast, 2013 – 2020 (USD billion)
FIG. 9 Global Smart Transportation market share and forecast by services, 2014 vs. 2021 (Value %)
FIG. 10 Cloud services market size and forecast, 2014 – 2021 (USD billion)
FIG. 11 Professional services market size and forecast, 2014 – 2021 (USD billion)
FIG. 12 Business services market size and forecast, 2014 – 2021 (USD billion)
FIG. 13 Global smart transportation market trend by geography, 2014 - 2021 (USD billion)
FIG. 14 North America smart transportation market size and forecast, 2014 – 2021 (USD billion)
FIG. 15 Smart transportation market size and forecast in Europe, 2014 – 2021 (USD billion)
FIG. 16 Smart transportation market size and forecast in Asia Pacific, 2014 – 2021 (USD billion)
FIG. 17 RoW Smart transportation Market Size and Forecast, 2014 – 2021 (USD billion)