Smart Transportation Market Size is Projected to Reach USD 121,220 Million by 2026 at CAGR 8.3% | Valuates Reports

BANGALORE, India, Jan. 25, 2021 /PRNewswire/ -- The Smart Transportation Market is Segmented by Type (Roadways, Railways, Airways, Maritime), Application (Shared Mobility, Public Transport, Route Guidance, Transit Hubs, Autonomous/Vehicles, Video Management, Others): Global Opportunity Analysis and Industry Forecast, 2021-2026. This report is published on Valuates Reports in the Transportation & Logistics Category.

The global Smart Transportation market size is projected to reach USD 121,220 Million by 2026, from USD 74,990 Million in 2020, at a CAGR of 8.3% during the forecast period 2021-2026.

Major factors driving the growth of smart transportation market size are technological advancement to enhance customer experience, growing government initiatives and PPP models for smart transportation, rising urban population and high demographic rates, and growing adoption of IoT and automation technologies to enhance technological optimization.

The report offers a comprehensive analysis and accurate statistics on revenue by the player for the period 2021-2026. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by players for the period 2021-2026.

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TRENDS INFLUENCING THE GROWTH OF SMART TRANSPORTATION MARKET SIZE

Technological advancements to enhance customer experience is expected to drive the smart transportation market size. The efficient implementation of smart transportation solutions depends heavily on the various facets of technologies such as data communication, cloud, mobility, and sensors that together form the IoT architecture. In recent years, rapid developments in these areas have allowed better object communication, resulting in the creation of smarter ecosystems. 

Furthermore, the development of automatic vehicles is expected to provide significant opportunities for the growth of the smart transportation market size. Across the automotive sector, the trend of creating driverless vehicles can be observed. With tremendous technological development, semi-autonomous and autonomous vehicles are undergoing rapid evolution. Although it will take considerable time to incorporate autonomous vehicles on a wide scale, many transportation operators are expected to deploy semi-autonomous vehicles in the future. The introduction of autonomous vehicles is important for the growth of the smart transportation market as these vehicles do not need drivers and will result in a cost reduction for mobility service providers.

As smart transport is an integral part of every smart city, growing investments in smart city initiatives are expected to fuel the growth of the smart transportation market size.

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SMART TRANSPORTATION MARKET SHARE ANALYSIS

Based on transportation mode, the roadways segment is expected to hold the largest smart transportation market share during the forecast period. This rapid growth of the segment is attributed to the rising adoption of intelligent mobility solutions across major cities around the world. In addition to the introduction of these smart technologies, the rapid growth of the smart transportation market can be credited with a remarkable increase in government patronage and financial support to revamp the transportation industry.

The software segment is expected to grow at the highest CAGR during the forecast period. This is due to the usage of various smart transportation software, including parking management, traffic management, security & surveillance, ticket management, and passenger information management. Among these, the security & surveillance software segment is expected to hold the largest smart transportation market share. 

Based on region, North America is expected to hold the largest smart transportation market share due to its advanced infrastructure. Asia-Pacific, on the other hand, is expected to witness the highest growth during the forecast period. In other regions such as Europe and MEA, the growth will be drive-by favorable government initiatives. 

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SMART TRANSPORTATION MARKET SEGMENTS

Smart Transportation Market segment by Type, the product can be split into

• Roadways
• Railways
• Airways
• Maritime

Smart Transportation Market segment by Application, split into

• Shared Mobility
• Public Transport
• Route Guidance
• Transit Hubs
• Autonomous/Vehicles
• Video Management
• Others

Smart Transportation Market segment by Regions/Countries, this report covers

• North America
• Europe
• China
• Japan
• Southeast Asia
• India
• Central & South America

The key players covered in this study

• Thales Group
• Huawei
• Siemens
• IBM
• Cisco Systems
• SAP
• Cubic
• Alstom
• Bombardier
• Toshiba
• Harris
• Bentley Systems
• Saab
• Trimble
• Veson Nautical
• Advanced Navigation and Positioning
• Bass Software
• Indra Sistemas

"We can also add the other companies as you want"

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SUBSCRIPTION

• Smart Cities Market

The Global Smart Cities Market size is expected to reach 252.56 Billion USD by the end of 2025, with a CAGR of 16.53% between 2019 and 2025.

Among regions, APAC is projected to hold the largest smart city market share by 2023 and is expected to lead the smart cities market, in terms of growth, from 2019 to 2025.

• Smart Railways Market

The global Smart Railways market size is projected to reach US$ 13690 million by 2026, from US$ 12580 million in 2020, at a CAGR of 8.2%% during 2021-2026.

• Railway Management System Market

The global Railway Management System market size is projected to reach US$ 30030 million by 2026, from US$ 27600 million in 2020, at a CAGR of 8.2%% during 2021-2026.

APAC is expected to hold the largest market share during the forecast period. This is due to the increase in the adoption of new technologies and high investments for digital transformation. The increasing GDP of the APAC countries is also expected to contribute to market growth.

• Transportation Management System Market

The global Transportation Management System market size is projected to reach USD 6633.8 Million by 2026, from USD 2853.1 Million in 2020, at a CAGR of 15.1% during 2021-2026.

• Drone Logistics and Transportation Market

The global Drone Logistics and Transportation market size is projected to reach USD 5930.1 Million by 2026, from USD 5308.5 Million in 2020

• On-Demand Transportation Market

The Global On-demand Transportation Market is expected to grow from USD 86,497.92 Million in 2019 to USD 172,066.68 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 12.14%.

On-Demand Transportation market size is increasing due to increasing demand to tackle rising fuel prices, traffic congestion, and emissions standards.

• 5G in Automotive and Smart Transportation Market

The global 5G in Automotive and Smart Transportation Market Size, Share, Trends, Growth, Industry Analysis, Forecast 2020 to 2026. The Report contains segmentation by Type (Hardware Components, Service, Others), By Application (Automotive Manufacturing, Automotive Driving, Others) and Regional Opportunity Analysis and Industry Forecast.

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