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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
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