Kenneth Research, in its repository of market research reports, have recently added a report on Smart Transportation Industry Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.
Global Smart Transportation Industry was valued at USD 58.1 Billion in the year 2017. Global Smart Transportation Industry is further estimated to grow at a CAGR of 23.69% from 2018 to reach USD 393.8 Billion by the year 2025. European region holds the highest Industry share in 2016 and Asia Pacific Industry is considered as the fastest growing Industry in the forecasted period. At country level China, Japan and India are projected to grow strongly in the coming years.
The major players in smart transportation Industry are Alstom SA, Cubic Corporation, Accenture Plc, IBM Corporation, Siemens AG, Cisco System Inc., General Electric Company (GE), Kapsch AG, LG CNS Co. Ltd., Tomtom International BV, WS Atkins PLC, Thales Group S.A. and other 13 companies detailed information is provided in research report. Rising research and development expenses to address changing demand of end users. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of the key manufacturers in recent years.
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SWOT Analysis of Smart Transportation Industry
Strength
Government investing in the development of Smart cities
Weakness
Initially higher cost
Opportunities
Implementing IoT Technology
Exponential Growth of Mobile Phones
Threats
Challenge of Data Security and Privacy of the Commuters
The Global Smart Transportation Industry is segmented by transportation mode, by solutions, by services, and by region in the projected years. The major shares of the Industry come from Service type, Deployment and integration services in Global Smart Transportation Industry. On the other hand, by solutions, smart ticketing solution for this Industry is expected to grow at highest CAGR during the year 2018-2025.
Global Smart Transportation Industry Overview By Solutions
Integrated Supervision
Ticketing Management
Passenger Information
Insurance Telematics
Parking Management
Traffic Management
Global Smart Transportation Industry Overview By Services
Cloud
Business
Professional & Consulting
Development & Integration
Support & Maintenance
Global Smart Transportation Industry Overview By Transportation Mode
Roadways
Railways
By Region
North America
• USA
• Canada
Europe
• Germany
• U.K.
• France
• Italy
• Rest of Europe
APAC
• China
• India
• Japan
• Rest of Asia-Pacific
RoW
• Latin America
• Middle East & Africa
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