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The size of the global market for smart transport was estimated at USD 110.58 billion in 2022, and it is anticipated to increase at a CAGR of 14.0% from 2023 to 2030. Government programmes to reduce greenhouse gas emissions, expanding urban development, and rising demand for technological integration in traffic control systems are all factors driving the market expansion. The majority of cities (including pedestrian walkways) face serious challenges with limited capacity to manage public transport, a lack of high-quality and safe public transit, worries about decreasing road safety, ineffective traffic management, and parking issues. As a result, the need for smart transport systems is anticipated to expand significantly in the next years. Smart transport infrastructure is simpler to implement as a result of factors including urbanisation, the greater acceptance of IoT-based technologies, and the spread of 5G-based connection.
The market saw a huge development in the use of modern technology in cars and transport infrastructure in 2018–2019 to improve traffic management, increase safety, lower maintenance costs, and enable more effective use of transport networks. The advent of autonomous vehicles, greater spending on smart city programmes, a decline in vehicle ownership, and the growth of mobility as a service (MaaS) will also likely present participants in the smart transportation industry with considerable growth prospects.
For instance, Indra Sistema S.A. announced a cooperation with broadband service provider Masmovil Group in September 2022 to build an advanced ecosystem that would support the expansion of smart 5G services and solutions for the mobility industry. The partnership's goal is to create and test cutting-edge 5G communications-based solutions in order to advance more intelligent, interconnected, and environmentally friendly mobility. The COVID-19 epidemic had a significant effect on several businesses worldwide. Global enterprises, particularly the market for smart mobility, were significantly impacted by government-ordered countrywide closures and quarantines to stem the disease's spread. The COVID-19 pandemic had a big influence on the transportation industry.
Companies were limited in their ability to relocate people because of the travel restrictions put in place to stop the spread of disease. As a result, the transportation industry's overall earnings, growth, and income of individuals all significantly decreased. As public transit continues to be extremely susceptible to disease outbreaks, travel organisations are intently focused on data-driven decisions in order to improve their products and win back customer trust. During the projection period, these factors are anticipated to increase demand for private transport services. Over the foreseeable period, industry growth will be constrained by the extensive downtime and high capital expenditures required to replace the current infrastructure. Due to the lack of a well defined methodology, smart transportation integrates a number of components made by different manufacturers, including hardware, applications, and mobile network components. Additionally, there are challenges for companies wanting to sell their products abroad due to the wide variations in communication conventions between different countries. However, rising demand in developing nations like China, Brazil, and India is predicted to create new opportunities.
Report Coverage
Global Smart Transportation research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Smart Transportation report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Smart Transportation competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Smart Transportation market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Smart Transportation market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Smart Transportation market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Accenture PLC; Alstom, SA; Cisco System, Inc.; Cubic Corporation; General Electric Company (GE); Indra Sistema S.A.; International Business Machines Corporation; Kapsch; LG CNS Corporation; Xerox Holdings Corporation
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Smart Transportation market based on the below-mentioned segments:
Global Smart Transportation Market, By Solution
Ticketing Management System
Parking Management System
Integrated Supervision System
Traffic Management System
Global Smart Transportation market, By Service
Cloud Services
Business Services
Professional Services
Global Smart Transportation market, Regional Analysis
The market saw a huge development in the use of modern technology in cars and transport infrastructure in 2018–2019 to improve traffic management, increase safety, lower maintenance costs, and enable more effective use of transport networks. The advent of autonomous vehicles, greater spending on smart city programmes, a decline in vehicle ownership, and the growth of mobility as a service (MaaS) will also likely present participants in the smart transportation industry with considerable growth prospects.
For instance, Indra Sistema S.A. announced a cooperation with broadband service provider Masmovil Group in September 2022 to build an advanced ecosystem that would support the expansion of smart 5G services and solutions for the mobility industry. The partnership's goal is to create and test cutting-edge 5G communications-based solutions in order to advance more intelligent, interconnected, and environmentally friendly mobility. The COVID-19 epidemic had a significant effect on several businesses worldwide. Global enterprises, particularly the market for smart mobility, were significantly impacted by government-ordered countrywide closures and quarantines to stem the disease's spread. The COVID-19 pandemic had a big influence on the transportation industry.
Companies were limited in their ability to relocate people because of the travel restrictions put in place to stop the spread of disease. As a result, the transportation industry's overall earnings, growth, and income of individuals all significantly decreased. As public transit continues to be extremely susceptible to disease outbreaks, travel organisations are intently focused on data-driven decisions in order to improve their products and win back customer trust. During the projection period, these factors are anticipated to increase demand for private transport services. Over the foreseeable period, industry growth will be constrained by the extensive downtime and high capital expenditures required to replace the current infrastructure. Due to the lack of a well defined methodology, smart transportation integrates a number of components made by different manufacturers, including hardware, applications, and mobile network components. Additionally, there are challenges for companies wanting to sell their products abroad due to the wide variations in communication conventions between different countries. However, rising demand in developing nations like China, Brazil, and India is predicted to create new opportunities.
Report Coverage
Global Smart Transportation research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Smart Transportation report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Smart Transportation competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Smart Transportation market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Accenture PLC; Alstom, SA; Cisco System, Inc.; Cubic Corporation; General Electric Company (GE); Indra Sistema S.A.; International Business Machines Corporation; Kapsch; LG CNS Corporation; Xerox Holdings Corporation |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Smart Transportation Market from 2021 to 2030.
- Market Forecast for Smart Transportation Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Smart Transportation competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Smart Transportation
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Smart Transportation market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Smart Transportation market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Accenture PLC; Alstom, SA; Cisco System, Inc.; Cubic Corporation; General Electric Company (GE); Indra Sistema S.A.; International Business Machines Corporation; Kapsch; LG CNS Corporation; Xerox Holdings Corporation
Primary Target Market
- Market Players of Smart Transportation
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Smart Transportation market based on the below-mentioned segments:
Global Smart Transportation Market, By Solution
Ticketing Management System
Parking Management System
Integrated Supervision System
Traffic Management System
Global Smart Transportation market, By Service
Cloud Services
Business Services
Professional Services
Global Smart Transportation market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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