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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.
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