Global Smart Transportation Market – Industry Trends and Forecast to 2026

The Smart Transportation is one of the most crucial and equipped with ITS (Intelligent Transportation System) based applications. It is connected wirelessly with Internet of Things (IoT) vertical technology. The main purpose is to collect data and controlling the real-time conditions, to improve performance and others.
The smart sensor offers a wide range of applications in road transport including infrastructure, traffic management, mobility management, car navigation, container management systems, automatic number plate recognition and security CCTV systems applications.Global smart transportation market is expected to  register a healthy CAGR of 19.7% in the forecast period of 2019 to 2026.

Segmentation: Global Smart Transportation Market 

The Smart transportation market is segmented into four notable segments which are solution, services and transportation
  • On the basis of solution, the market is segmented into passenger information solution, traffic management solution, parking management solution, smart ticketing solution, insurance telematics solution and integrated supervision solution. The passenger information solution is sub-segmented into network connectivity and multimedia information & entertainment.
  • The traffic management solution is sub-segmented into route guidance, toll collection & revenue management, smart signaling and predictive traffic analytics. The parking management solution is sub-segmented into ticketing and revenue management, access control, automated parking guidance and slot management.Traffic management solution segment is growing at the highest CAGR of 20.3% in the forecast period of 2019 to 2026.
  • Traffic management solution segment to grow with the highest CAGR due to increasing demand for monitor various roadways as well as controlling traffic congestion.

Competitive Analysis: Global Smart Transportation Market 

Some of the prominent participants operating in this market are Kapsch Traffic Com, Gemalto NV, Thales Group, Alstom, Schneider Electric, Siemens Ltd., MSR-Traffic, Cubic Corporation, WS ATKINS PLC, Cisco System, Inc., Accenture, IBM, LG CNS, Indigo Group and Toshiba Corporation and others.
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