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North America accounted for the largest share in the global smart transportation market in 2016. U.S. is the major growth engine in North America market
Smart Transportation Market - Global Industry Insights,
Trends, 2017-2025
Smart transportation system are efficient and sustainable intermodal transport systems and
infrastructure that can deliver high level of intelligence and performance. Smart
transportation system includes use of advanced technologies such as electronics, computers,
information and telecommunication, and advanced sensors to provide information to
consumers in order to improve safety and efficiency of the transportation system. Smart
transportation system are increasingly being adopted in order to reduce congestion, improve
traffic management, and reduce environmental impact of greenhouse gasses emitted by
vehicles. These systems have a range of applications in transportation such as electronic toll
collection, ramp meters, traffic light cameras, traffic-signal coordination, transit signal
priority, and traveler-information systems. These are also used in fleet monitoring, tolling
management, ticket management, telematics and traffic monitoring. Smart transportation
systems aids in improving safety and security and offers real-time information related to
traffic and routes and this one of the major drivers for growth of the market.
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One of the key factors responsible for driving the market growth is increasing vehicle parc
worldwide. According to statistics by Organisation Internationale des Constructeurs
d'Automobiles, globally, 93,856,388 units of vehicles were sold in 2016, which is 4,171,780
units over 2015 total global sales. Moreover, rising need for efficient traffic management,
increasing need for public safety and security, and environmental concerns over emission of
greenhouse gases, along with rise in number of smart cities. For instance, in 2015
Government of India launched "100 Smart Cities Mission".
However, high initial investment for replacement of present infrastructure with advanced
smart transportation solutions and requirement of large database for road network are factors
expected to adversely affect the global smart transportation market growth.
Smart Transportation Market Taxonomy
On the basis of mode of transportation, the global smart transportation market is segmented
into:
●
●
●
●
Railways
Roadways
Airways
Seaways
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On the basis of services, the global smart transportation market is segmented into:
● Consulting
● Integration and Deployment
● Maintenance & Support
On the basis of solution, the global smart transportation market is segmented into:
●
●
●
●
●
Integrated Supervision Solution
Traffic Management Solution
Parking Management Solution
Smart Ticketing Solution
Others (Passenger Information Solution, Insurance Telematics Solution)
Asia Pacific market is expected to exhibit strong growth potential over the forecast
period
North America accounted for the largest share in the global smart transportation market in
2016. U.S. is the major growth engine in North America market. This is owing to increasing
initiatives from the U.S. government towards improvement of transportation facilities and
implementation of intelligent transportation systems (ITS). For instance, the America's
Surface Transportation Act or "FAST Act" was passed in 2015, in order to solve congestion
issues, enhance transportation within the country, improve working efficiencies in
transportation systems and commercial vehicles, and minimize vehicle emissions.
Asia Pacific market is expected to exhibit highest CAGR over the forecast period and this is
due to increasing deployment of smart city and smart infrastructure projects in this region.
China, Japan, India, and South Korea are the major growth engines in the region. For
instance, in 2015 Government of India launched "100 Smart Cities Mission".
Major players operating in the global smart transportation system market are Accenture, Plc,
Amano Corporation, Alstom SA, Cisco Systems Inc., Cubic Corporation, Gemalto N.V.,
Indigo Infra S.A., Inrix Inc., International Business, Machines Corporation (IBM), Kapsch
Trafficom GmbH, Msr-traffic GmbH, and Siemens AG.
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apeksha motghare
apeksha motghare533   documents Email
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