The report talks about the shift in demands and emerging trends that are expected to drive the growth of the Smart Transportation Market. The rising demand for the Smart Transportation Market is expected to drive the demand for Smart Transportation Market, thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
The global smart transportation market size was USD 103.81 Billion in 2021 and is expected to register a revenue CAGR of 10.6% during the forecast period, according to latest analysis by Emergen Research. Technological advancements to enhance customer experience is the major factor driving market revenue growth.
With significant technological development, autonomous and semi-autonomous cars are evolving quickly, as they can operate with little or no assistance from humans. The transportation sector is experiencing a trend toward development of autonomous cars, while semi-autonomous cars are anticipated to be introduced by a number of transportation providers in the future, even if widespread adoption of autonomous vehicles would take some time. Some businesses that offer mobility-on-demand services are now using semi-autonomous vehicle technologies in automobiles.
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Report Scope:
Forecast Period: 2022- 2030
CAGR: 10.6%
Base Year: 2021
Number of Pages: 250
The research report offers in-depth insights into company profiles along with their production values, production capacity, product portfolio, strategic plans such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, government and corporate deals, among others. The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry.
Some major companies in the global market report include Thales, Huawei Technologies Co., Ltd., Siemens, IBM, Cisco Systems, Inc., SAP, Cubic Corporation, Alstom, Bombardier, and Toshiba Corporation.
Some Key Highlights from the Report
- The roadway segment accounted for largest revenue share in 2021. There is an increasing demand for smart transportation owing to ,technology's capacity to increase road safety and reduce traffic congestion through efficient monitoring and control of road transport.
- Smart ticketing technology is one of the most innovative methods of handling tickets and related processes in the airline company. Among other technological solutions and other transport networks, implementation of smart ticketing in airlines is experiencing a lot of changes on a global scale. Airport staff can manage manual chores at peak times by deploying smart ticketing technology, while airlines receive helpful services and benefits including self-boarding and self-luggage management, which is expected to drive revenue growth of this segment.
- Communication technology in the maritime segment accounted for largest revenue share in 2021. Enterprise software specifically created for shipping industries is known as maritime software. Shipping companies can manage their fleets and control ships and communicate between ships with the help of this fully integrated software.
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For the purpose of this report, Emergen Research has segmented the global smart transportation market based on component type, application type, communication technology, and region:
· Component Type Outlook (Revenue, USD Billion; 2019-2030)
- Railways
- Roadways
- Airways
- Maritime
· Application Type Outlook (Revenue, USD Billion; 2019-2030)
- Mobility as a Service
- Smart ticketing solution
- Route Information and Route Guidance
- Passenger Information
- Public Transport
- Transit Hubs
- Connected Cars
- Video Management
- Others
· Communication Technology Outlook (Revenue, USD Billion; 2019-2030)
- Communication Technology in Roadways
- Communication Technology in Railways
- Communication Technology in Airways
- Communication Technology in Maritime
In conclusion, the report is designed to provide an in-depth analysis of all the key change calculation factors that replicate the decisions that trigger the change, which pushes the player’s winning position profitable on the growth curve despite massive competition in the target Smart Transportation market.
Key Questions Answered in the Report:
What is the growth rate of the Smart Transportation market? What is the anticipated market valuation of Smart Transportation industry by 2030?
What are the key growth driving and restraining factors of the Smart Transportation market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Smart Transportation industry over the forecast period?
Which region is expected to show significant growth in the coming years?
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