The Worldwide Smart Transportation Industry is Expected to Reach $285 Billion by 2030

DUBLIN, May 27, 2022 /PRNewswire/ -- The "Smart Transportation Market Size, Share & Trends Analysis Report by Solution (Ticketing Management System, Parking Management System), by Service, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global smart transportation market size is estimated to reach USD 285.12 billion by 2030, growing at a CAGR of 12.6% from 2022 to 2030. The need for an efficient management system is predicted to increase with the growing number of on-road cars and the reducing efficiency of existing transport infrastructure. Favorable government initiatives for building better infrastructure and smooth running of existing transport systems are expected to boost the market growth.

Artificial Intelligence (AI) and the Internet of Things (IoT) aid in balancing operations by responding to detailed data on ridership peaks and lows. Smart transportation technologies offer specific data such as real-time arrival information to consumers to avoid waiting at congested stations. They also provide details on the capacity of a train or a bus. Such factors are increasing the demand for these technologies. Furthermore, increasing investments in smart city projects are anticipated to create new growth avenues over the forecast period as smart transportation is an integral part of a smart city.

Many countries are investing in smart transportation solutions owing to the benefits offered by these solutions. For instance, Israel's transportation system was inefficient, dispersed, and dealt with single-occupancy rides, resulting in traffic bottlenecks, high pollution levels, and limited accessibility. To reinvent mass commuting during the pandemic, Israel conducted a large-scale study that combined on-demand transit with carpooling to promote low-occupancy travel. It involved routing buses using a custom algorithm to ensure efficient travel.

The requirement of massive capital for replacing the existing infrastructure with a technologically advanced system is expected to hinder the industry growth. The extended downtime for replacing the current system may also challenge the market development and affect daily commutation activities. Furthermore, a lack of standardization is expected to hinder the growth of the market. However, rising government focus on reducing greenhouse gas emissions and curbing alarming levels of traffic congestion is anticipated to drive the growth of the market.

Smart Transportation Market Report Highlights

• The parking management system segment is anticipated to emerge as the fastest-growing solution segment over the forecast period owing to the shift of population to urban areas and reducing real estate space.
• The professional services segment is anticipated to emerge as the fastest-growing service segment over the forecast period as they help modernize existing infrastructure systems by providing implementation support and design advice.
• The APAC market is estimated to grow at the highest CAGR owing to increased use of vehicles, which leads to increased parking issues, and the increased demand for efficient transportation.

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Smart Transportation Industry Outlook
3.1 Market Segmentation
3.2 Market Size and Growth Prospects
3.3 Smart Transportation Value Chain Analysis
3.4 Smart Transportation Market Dynamics
3.4.1 Market Driver Analysis
3.4.1.1 Need For Road Safety
3.4.1.2 Increasing Need To Reduce Greenhouse Gas Emission
3.4.1.3 Increasing Investment In Smart City Projects
3.4.2 Market Challenge Analysis
3.4.2.1 Need For Interoperability
3.5 Key Opportunities-Prioritized
3.6 Industry Analysis-Porter's Five Forces Analysis
3.7 Smart Transportation Market-PESTEL Analysis
3.8 Impact Of COVID-19 On Smart Transportation Market

Chapter 4 Smart Transportation Solution Outlook
4.1 Smart Transportation Market Share by Solution, 2021 & 2030
4.2 Ticketing Management System
4.2.1 Global Ticketing Management System Market by Region, 2017-2030
4.3 Parking Management System
4.3.1 Global Parking Management System Market by Region, 2017-2030
4.4 Integrated Supervision System
4.4.1 Global Integrated Supervision System Market by Region, 2017-2030
4.5 Traffic Management System
4.5.1 Global Traffic Management System Market by Region, 2017-2030

Chapter 5 Smart Transportation Service Outlook
5.1 Smart Transportation Market Share by Service, 2021 & 2030
5.2 Cloud Services
5.2.1 Global Cloud Services Market by Region, 2017-2030
5.3 Business Services
5.3.1 Global Business Services Market by Region, 2017-2030
5.4 Professional Services
5.4.1 Global Professional Services Market by Region, 2017-2030

Chapter 6 Smart Transportation Regional Outlook

Chapter 7 Competitive Analysis
7.1 Recent Developments & Impact Analysis, by Key Market Participants
7.2 Company/Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
7.3 Vendor Landscape
7.3.1 Key Company Analysis, 2021

Chapter 8 Competitive Landscape
8.1 Accenture PLC
8.1.1 Company Overview
8.1.2 Financial Performance
8.1.3 Product Benchmarking
8.1.4 Strategic Initiatives
8.2 Alstom, SA
8.2.1 Company Overview
8.2.2 Financial Performance
8.2.3 Product Benchmarking
8.2.4 Strategic Initiatives
8.3 Cisco Systems, Inc.
8.3.1 Company Overview
8.3.2 Financial Performance
8.3.3 Product Benchmarking
8.3.4 Strategic Initiatives
8.4 Cubic Corporation
8.4.1 Company Overview
8.4.2 Financial Performance
8.4.3 Product Benchmarking
8.4.4 Strategic Initiatives
8.5 General Electric Company (GE)
8.5.1 Company Overview
8.5.2 Financial Performance
8.5.3 Product Benchmarking
8.5.4 Strategic Initiatives
8.6 Indra Sistema S.A.
8.6.1 Company Overview
8.6.2 Financial Performance
8.6.3 Product Benchmarking
8.6.4 Strategic Initiatives
8.7 International Business Machines Corporation
8.7.1 Company Overview
8.7.2 Financial Performance
8.7.3 Product Benchmarking
8.7.4 Strategic Initiatives
8.8 Kapsch
8.8.1 Company Overview
8.8.2 Financial Performance
8.8.3 Product Benchmarking
8.8.4 Strategic Initiatives
8.9 LG CNS Corporation
8.9.1 Company Overview
8.9.2 Financial Performance
8.9.3 Product Benchmarking
8.9.4 Strategic Initiatives
8.10 Xerox Holdings Corporation
8.10.1 Company Overview
8.10.2 Financial Performance
8.10.3 Product Benchmarking
8.10.4 Strategic Initiatives

For more information about this report visit https://www.researchandmarkets.com/r/wazbuc

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets