Global Transportation IT Spending Market 2015-2019 - Key Vendors are Accenture, Cisco Systems, Cubic, GE Transportation Systems, IBM & Siemens
DUBLIN, Feb .19, 2015 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/s4s5lp/global) has announced the addition of the "Global Transportation IT Spending Market 2015-2019" report to their offering.
The analysts forecast the Global Transportation IT Spending market to grow at a CAGR of 4.26% over the period 2014-2019
The Transportation sector comprises of airlines, trucking companies, waterways, railways, and road transport. This sector's performance depends on the changes in the prices of oil. IT has been playing an essential role in the transformation of the Transportation sector. The rising oil consumption, depleting natural resources, shortage of oil reserves, and increasing demand for vehicle fuels have forced various countries to explore alternate ways to improve efficiencies. As a result, countries are focusing on increasing the adoption of IT in transportation system.
One major trend upcoming in this market is the rise in adoption of business intelligence solutions. Governments and private firms collect and analyze data with BI software to help them gain an insight into the market, which helps them in making important decisions.
According to the report, one of the major drivers of the market is increased spending on transportation IT systems. Increased traffic congestion and road accidents have forced governments worldwide to spend heavily on transportation IT systems. The fast pace of urbanization and increase in disposable income have resulted in a rise in the number of vehicles. This has led to the need for efficient traffic control, which is expected to lead to a high investment in traffic management systems.
Further, the report states that the resistance to accept the benefits of IT and the lack of technically experienced people in this sector are posing a challenge to the growth of the market. Installation of IT systems in the Transportation sector is a long-duration project because of customization. This requires acceptance of technology and realization of the benefits associated with the use of IT systems.
The Global Transportation IT Spending market can be segmented into three: Hardware, Software and Solutions, and IT Services.
Key Vendors
- Accenture
- Cisco Systems
- Cubic
- GE Transportation Systems
- IBM
- Siemens
Other Prominent Vendors
- Affiliated Computer Services
- AirIT
- Aljex Software
- Alstom
- Atos
- Bass Software
- Capgemini
- Cognizant
- Cubic
- Damarel
- Descarts Systems
- DNV GL
- ESRI
- Ikusi
- Indra Sistemas
- KAPSCH
- LG CNS
- Mindfire Solutions
- NEC
- Northrop Grumman
- RESA
- Rockwell Collins
- SAP
- Siemens
- TCS
- Thales Group
- Veson Nautical
- Wipro
Key Topics Covered:
- Executive Summary
- List of Abbreviations
- Scope of the Report
- Market Research Methodology
- Introduction
- Market Landscape
- Market Segmentation by Product
- Geographical Segmentation
- Buying Criteria
- Market Growth Drivers
- Drivers and their Impact
- Market Challenges
- Impact of Drivers and Challenges
- Market Trends
- Trends and their Impact
- Vendor Landscape
- Key Vendor Analysis
For more information visit http://www.researchandmarkets.com/research/s4s5lp/global
Media Contact: Laura Wood , +353-1-481-1716, [email protected]
SOURCE Research and Markets
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