The global smart transportation market is growing at a significant CAGR of around 9.8% during the forecast period (2020-2026). Smart transportation refers to the integrated application of modern technologies and management strategies in transportation systems. Smart transportation includes the use of several technologies, from basic management systems such as car navigation; traffic signal control systems; container management systems; automatic number plate recognition or speed cameras to monitor applications, such as security CCTV systems; and to more advanced applications that integrate live data and feedback from a number of other sources. The evolution of intelligent transportation systems is providing a growing number of technology solutions for transportation managers, to operate and maintain the systems more efficiently and improve performance.

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Moreover, there are several pivotal factors that are driving the global smart transportation market, which includes growing government initiatives and public-private partnerships (PPP) for the extension of smart transportation across the globe. This factor is further backed by several smart city projects in the emerging economies, such as China and India. Moreover, the adoption of IoT, analytics, and automation technologies will further offer growth opportunity to the smart transportation market during the forecast period. However, high cost of deployment and stringent regulatory policies will affect the market growth during the forecast period.

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Global Smart Transportation Market Segmentation

By Transportation Mode

Railways

Roadways

Airways

Maritime

By Application

Ticketing Management System

Parking Management System

Traffic Management System

Others (Integrated Supervision System)

Regional Analysis

North America

United States

Canada

Europe

UK

Germany

Italy

Spain

France

Rest of Europe

Asia-Pacific

China

India

Japan

Rest of Asia-Pacific

Rest of the World

Company Profiles

Advantech Co., Ltd.

ALSTOM Holdings

Amadeus IT Group, S.A.

Bentley Systems, Inc.

Cisco Systems, Inc.

Conduent Business Services, LLC

Cubic Corp.

Hitachi, Ltd.

Huawei Technologies Co., Ltd.

IBM Corp.

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