Global Smart Transportation Market was valued at USD 104.52 Billion in 2021, and is expected to reach USD 234.01 Billion by 2029, exhibiting a CAGR of 10.6 % during the forecast period (2022-2029).

Smart Transportation Market Overview:

A research team conducted extensive primary and secondary research for the Smart Transportation market study of the global market. In order to augment already-existing data, segment the market, calculate the overall market size, and project market size and growth rate, secondary research was conducted.

Market revenue is determined by primary and secondary research, and market leaders are recognised through these two methods. In-depth interviews with influential thought leaders and business leaders, including CEOs and marketing executives, were conducted as part of the main study.

As part of the primary research, extensive interviews with key opinion leaders and business leaders, including CEOs and marketing executives, were done. As part of the secondary research, the annual and financial reports of the major manufacturers were examined. Global market percentage splits, market shares, growth rates, and breakdowns are produced from secondary sources and validated against primary data.

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Market Scope:

The report contributes to a better knowledge of the global Smart Transportation market's dynamic structure by identifying and assessing market segments and estimating market size. The report also contains a comparison of key firms' pricing, financial standing, application growth objectives, and regional presence. To assist shareholders in prioritising their efforts and investments in the global Smart Transportation market, the study also contains a PESTLE analysis.

Decision-makers now have a clear picture of the future of the market thanks to the investigation of external and internal factors that are expected to either benefit or harm enterprises. Through the analysis of market segmentation and projections of market size, the study also contributes to an understanding of the dynamic structure of the global Smart Transportation market. The study is a resource for investors by giving a thorough representation of the competitive analysis of significant organizations in the Global Smart Transportation Market based on price, financial position, growth strategies, and geographic presence.

Smart Transportation Market Segment: 

According to Solution, the global market for Smart Transportation solutions was led by traffic management system solutions in 2021 as a result of expanding urbanisation, rising environmental concerns, and a desire for real-time information. Due to the government's growing attention on traffic management and several initiatives in North America aiming at traffic management solutions and services, the traffic management system is widely used in North America. Real-time traffic management, remote monitoring technologies, data management, Software as a Service (SaaS)-based solutions, and the Internet of Things are key trends in the market for traffic management systems. Rapid urbanisation, the rise of the idea of smart cities and smart traffic are the main market possibilities for traffic management systems.

Based on Service, the cloud service segment dominated the world market for smart transportation in 2021. This was because they could offer solutions for various computing needs, such as controlling and accessing data remotely. Additionally, cloud services offer a number of advantages like adaptable cloud space capacity, automatic software updates, remote working from anywhere, and more. Cloud services are the market leader in the smart transportation sector. The provision of business applications tailored to particular industries is the dominant trend in the market for cloud services. The industry is also growing as a result of cloud infrastructure as a service (IaaS), cloud management, and cloud application infrastructure as a service.

Smart Transportation Market Key players:

• Thales
• Huawei
• Siemens
• Cisco Systems
• Cubic
• Bombardier
• Toshiba
• Harris
• Saab
• Veson Nautical
• Advanced Navigation Positioning Corporation (ANPC)
• BASS Software
• Indra Sistemas
• Trimble
• TomTom
• Amadeus
• Conduent
• Kapsch
• Hitachi
• The Descartes Systems
• Accenture
• Rockwell Collins

Regional Analysis:

The Smart Transportation Market is examined at the national level with a focus on nations with the largest market shares, categories with the potential for strong growth, and categories. The regional breakdowns in the Smart Transportation Market research include North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), and Other nations.

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COVID-19 Impact Analysis on Smart Transportation Market: The report covers COVID-19 impact on Smart Transportation market.

Key Questions Answered in the Smart Transportation Market Report are:

  • What will the CAGR of the Smart Transportation market be during the forecast period?
  • In the Smart Transportation market, which market segment has become the market leader?
  • Which companies dominate the Smart Transportation market?
  • In 2029, how big will the Smart Transportation market be?
  • Which company held the largest proportion of the Smart Transportation market?

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