The global smart transportation market size is expected to reach USD 285.12 billion by 2030 and is expected to expand at 13.0% CAGR from 2023 to 2030. The requirement for an efficient management system for seamless transportation services is predicted to increase, as the number of cars on-road grows and existing transportation infrastructure becomes ineffective.
Favorable government actions aimed at improving infrastructure and easing the transition toward an effective transportation system are expected to aid sector growth. By reacting to specific data on the peaks and troughs of passenger service, artificial intelligence (AI) and the internet of things (IoT) can help balance operations. Smart transportation technology will provide customers with detailed transportation information, such as actual arrival information to prevent waiting at crowded platforms, and instant visibility and alerts for trouble spots or issues affecting citywide congestion on public streets.
As smart transportation has become a vital aspect of the global smart city initiative, increasing investments in smart city solutions are expected to provide new avenues for market growth over the forecast period. Growing adoption of smart transportation solutions by government authorities has led to enhanced security & supply chain resiliency as well as environmental considerations. Furthermore, it has also added key benefits such as better management, security, and efficiency of transport systems in cities. Hence, several vendors are expected to develop and expand new products and solutions.
For instance, in September 2022, Accenture plc announced the acquisition of MacGregor Partners, a supply chain & logistics company. The acquisition enabled the company to expand its fulfillment transformation capabilities and supply chain network driven by Blue Yonder technology, an omnichannel fulfillment mechanism. Moreover, a team of over 100 employees from MacGregor Partners joined Accenture plc's intelligent platform services division, which brings extensive expertise in assisting businesses from various industries with the implementation of Warehouse Management Systems (WMS) and Transportation Management Systems (TMS).
The need for significant capital to replace the current infrastructure with an updated technical system is anticipated to impede industry expansion. The current system's prolonged downtime for replacement could hinder its development and have an impact on daily commuter activity. Similarly, the European Union (EU) has continued to use Dedicated Short-range Communication (DSRC) as its communication technology protocol. Therefore, a lack of uniformity also remains a challenge for the growth of the market.
Favorable government actions aimed at improving infrastructure and easing the transition toward an effective transportation system are expected to aid sector growth. By reacting to specific data on the peaks and troughs of passenger service, artificial intelligence (AI) and the internet of things (IoT) can help balance operations. Smart transportation technology will provide customers with detailed transportation information, such as actual arrival information to prevent waiting at crowded platforms, and instant visibility and alerts for trouble spots or issues affecting citywide congestion on public streets.
As smart transportation has become a vital aspect of the global smart city initiative, increasing investments in smart city solutions are expected to provide new avenues for market growth over the forecast period. Growing adoption of smart transportation solutions by government authorities has led to enhanced security & supply chain resiliency as well as environmental considerations. Furthermore, it has also added key benefits such as better management, security, and efficiency of transport systems in cities. Hence, several vendors are expected to develop and expand new products and solutions.
For instance, in September 2022, Accenture plc announced the acquisition of MacGregor Partners, a supply chain & logistics company. The acquisition enabled the company to expand its fulfillment transformation capabilities and supply chain network driven by Blue Yonder technology, an omnichannel fulfillment mechanism. Moreover, a team of over 100 employees from MacGregor Partners joined Accenture plc's intelligent platform services division, which brings extensive expertise in assisting businesses from various industries with the implementation of Warehouse Management Systems (WMS) and Transportation Management Systems (TMS).
The need for significant capital to replace the current infrastructure with an updated technical system is anticipated to impede industry expansion. The current system's prolonged downtime for replacement could hinder its development and have an impact on daily commuter activity. Similarly, the European Union (EU) has continued to use Dedicated Short-range Communication (DSRC) as its communication technology protocol. Therefore, a lack of uniformity also remains a challenge for the growth of the market.
Smart Transportation Market Report Highlights
- The cloud service is anticipated to emerge as the fastest-growing service segment over the forecast period, owing to the demand for cloud-based solutions to better manage data and storage. The demand for cloud services is bolstered by smart transportation, which offers reliable data and real-time visibility to local transportation agencies and businesses
- The parking management system is anticipated to emerge as the fastest-growing solution segment over the forecast period. The parking management system is expected to boost growth, owing to increased urbanization. It has resulted in increasing parking resource prices and a reduction in real estate space, which are expected to drive market growth
- The APAC market is estimated to be the fastest-growing regional segment over the forecast period, offering lucrative growth opportunities for industry players. The need for better transportation is expected to increase as a key element driving the expansion of the smart transportation industry in APAC, as increased car usage creates more parking problems
Table of Contents
Chapter 1 Methodology and Scope1.1 Research methodology
1.2 Research scope and assumptions
1.3 List of data sources
Chapter 2 Executive Summary
2.1 Smart transportation - Industry snapshot and key buying criteria, 2018 - 2030
Chapter 3 Smart Transportation Industry Outlook
3.1 Market segmentation
3.2 Market size and growth prospects
3.3 Smart transportation value chain analysis
3.4 Smart transportation market dynamics
3.4.1 Market driver analysis
3.4.1.1 Need for road safety
3.4.1.2 Increasing need to reduce greenhouse gas emission
3.4.1.3 Increasing investment in smart city projects
3.4.2 Market challenge analysis
3.4.2.1 Need for interoperability
3.5 Key opportunities - Prioritized
3.6 Industry analysis - Porter’s
3.7 Smart transportation PESTEL analysis
3.8 Impact of COVID-19 on the Smart Transportation Market
Chapter 4 Smart Transportation Solution Outlook
4.1 Smart transportation market share by solution, 2018 & 2030
4.2 Ticketing management system
4.2.1 Global ticketing management system demand by region, 2018 - 2030
4.3 Parking management system
4.3.1 Global parking management system demand by region, 2018 - 2030
4.4 Integrated supervision system
4.4.1 Global integrated supervision system demand by region, 2018 - 2030
4.5 Traffic management system
4.5.1 Global traffic management system demand by region, 2018 - 2030
Chapter 5 Smart Transportation Service Outlook
5.1 Smart transportation market share by service, 2018 & 2030
5.2 Cloud services
5.2.1 Global cloud services demand by region, 2018 - 2030
5.3 Business services
5.3.1 Global business services demand by region, 2018 - 2030
5.4 Professional services
5.4.1 Global professional services demand by region, 2018 - 2030
Chapter 6 Smart Transportation Regional Outlook
6.1 Smart Transportation Market Share by Region, 2022 & 2030
6.2 North America
6.2.1 North America smart transportation market, 2018 - 2030
6.2.2 North America smart transportation market, by solution, 2018 - 2030
6.2.3 North America smart transportation market, by service, 2018 - 2030
6.2.4 U.S.
6.2.4.1 U.S. smart transportation market, 2018 - 2030
6.2.4.2 U.S. smart transportation market, by solution, 2018 - 2030
6.2.4.3 U.S. smart transportation market, by service, 2018 - 2030
6.2.5 Canada
6.2.5.1 Canada smart transportation market, 2018 - 2030
6.2.5.2 Canada smart transportation market, by solution, 2018 - 2030
6.2.5.3 Canada smart transportation market, by service, 2018 - 2030
6.3 Europe
6.3.1 Europe smart transportation market, 2018 - 2030
6.3.2 Europe smart transportation market by solution, 2018 - 2030
6.3.3 Europe smart transportation market, by service, 2018 - 2030
6.3.4 U.K.
6.3.4.1 U.K. smart transportation market, 2018 - 2030
6.3.4.2 U.K. smart transportation market, by solution, 2018 - 2030
6.3.4.3 U.K. smart transportation market, by service, 2018 - 2030
6.3.5 Germany
6.3.5.1 Germany smart transportation market, 2018 - 2030
6.3.5.2 Germany smart transportation market, by solution, 2018 - 2030
6.3.5.3 Germany smart transportation market, by service, 2018 - 2030
6.4 Asia Pacific
6.4.1 Asia Pacific smart transportation market, 2018 - 2030
6.4.2 Asia Pacific smart transportation market, by solution, 2018 - 2030
6.4.3 Asia Pacific smart transportation market, by service, 2018 - 2030
6.4.4 China
6.4.4.1 China smart transportation market, 2018 - 2030
6.4.4.2 China smart transportation market, by solution, 2018 - 2030
6.4.4.3 China smart transportation market, by service, 2018 - 2030
6.4.5 India
6.4.5.1 India smart transportation market, 2018 - 2030
6.4.5.2 India smart transportation market, by solution, 2018 - 2030
6.4.5.3 India smart transportation market, by service, 2018 - 2030
6.4.6 Japan
6.4.6.1 Japan smart transportation market, 2018 - 2030
6.4.6.2 Japan smart transportation market, by solution, 2018 - 2030
6.4.6.3 Japan smart transportation market, by service, 2018 - 2030
6.5 Latin America
6.5.1 Latin America smart transportation market, 2018 - 2030
6.5.2 Latin America smart transportation market, by solution, 2018 - 2030
6.5.3 Latin America smart transportation market, by service, 2018 - 2030
6.5.4 Brazil
6.5.4.1 Brazil smart transportation market, 2018 - 2030
6.5.4.2 Brazil smart transportation market, by solution, 2018 - 2030
6.5.4.3 Brazil smart transportation market, by service, 2018 - 2030
6.6 Middle East & Africa
6.6.1 Middle East & Africa smart transportation market, 2018 - 2030
6.6.2 Middle East & Africa smart transportation market, by solution, 2018 - 2030
6.6.3 Middle East & Africa smart transportation market, by service, 2018 - 2030
Chapter 7 Competitive Analysis
7.1 Recent Developments & Impact Analysis, By Key Market Participants
7.2 Company/Competition Categorization (Key innovators, Market leaders, Emerging Players)
7.3 Vendor Landscape
7.3.1 Key Company Analysis, 2022
Chapter 8 Competitive Landscape
8.1 Accenture PLC
8.1.1 Company Overview
8.1.2 Financial Performance
8.1.3 Product Benchmarking
8.1.4 Strategic Initiatives
8.2 Alstom, SA
8.2.1 Company Overview
8.2.2 Financial Performance
8.2.3 Product Benchmarking
8.2.4 Strategic Initiatives
8.3 Cisco System, Inc.
8.3.1 Company Overview
8.3.2 Financial Performance
8.3.3 Product Benchmarking
8.3.4 Strategic Initiatives
8.4 Cubic Corporation
8.4.1 Company Overview
8.4.2 Financial Performance
8.4.3 Product Benchmarking
8.4.4 Strategic Initiatives
8.5 General Electric Company (GE)
8.5.1 Company Overview
8.5.2 Financial Performance
8.5.3 Product Benchmarking
8.5.4 Strategic Initiatives
8.6 Indra Sistema S.A.
8.6.1 Company Overview
8.6.2 Financial Performance
8.6.3 Product Benchmarking
8.6.4 Strategic Initiatives
8.7 International Business Machines Corporation
8.7.1 Company Overview
8.7.2 Financial Performance
8.7.3 Product Benchmarking
8.7.4 Strategic Initiatives
8.8 Kapsch
8.8.1 Company Overview
8.8.2 Financial Performance
8.8.3 Product Benchmarking
8.8.4 Strategic Initiatives
8.9 LG CNS Corporation
8.9.1 Company Overview
8.9.2 Financial Performance
8.9.3 Product Benchmarking
8.9.4 Strategic Initiatives
8.10 Xerox Holdings Corporation
8.10.1 Company Overview
8.10.2 Financial Performance
8.10.3 Product Benchmarking
8.10.4 Strategic Initiatives
List of Tables
Table 1 Smart transportation - Industry snapshot and key buying criteria, 2018 - 2030
TABLE 2 Global smart transportation market (USD Billion) 2018 - 2030
TABLE 3 Global smart transportation market by region, 2018 - 2030 (USD Billion)
TABLE 4 Smart transportation market, 2018 - 2030 (USD Billion)
TABLE 5 Global smart transportation market by solution, 2018 - 2030 (USD Billion)
TABLE 6 Global smart transportation market by service, 2018 - 2030 (USD Billion)
TABLE 7 Transport Infrastructure investment (USD Billion)
TABLE 8 Smart transportation - Key market driver impact
TABLE 9 Smart transportation - Key market challenge impact
TABLE 10 List of key vendors
TABLE 11 Ticketing management system demand, 2018 - 2030 (USD Billion)
TABLE 12 Global ticketing management system demand by region, 2018 - 2030 (USD Billion)
TABLE 13 Parking management system demand, 2018 - 2030 (USD Billion)
TABLE 14 Global parking management system demand by region, 2018 - 2030 (USD Billion)
TABLE 15 Integrated supervision system demand, 2018 - 2030 (USD Billion)
TABLE 16 Global Integrated supervision system demand by region, 2018 - 2030 (USD Billion)
TABLE 17 Global traffic management system demand, 2018 - 2030 (USD Billion)
TABLE 18 Global traffic management system demand by region, 2018 - 2030 (USD Billion)
TABLE 19 Global cloud services demand, 2018 - 2030 (USD Billion)
TABLE 20 Global cloud services demand by region, 2018 - 2030 (USD Billion)
TABLE 21 Global business services demand, 2018 - 2030 (USD Billion)
TABLE 22 Global business services demand by region, 2018 - 2030 (USD Billion)
TABLE 23 Global professional services demand, 2018 - 2030 (USD Billion)
TABLE 24 Global professional services demand by region, 2018 - 2030 (USD Billion)
TABLE 25 North America smart transportation market, 2018 - 2030 (USD Billion)
TABLE 26 North America smart transportation market, by solution, 2018 - 2030 (USD Billion)
TABLE 27 North America smart transportation market, by service 2018 - 2030 (USD Billion)
TABLE 28 U.S. smart transportation market, 2018 - 2030 (USD Billion)
TABLE 29 U.S. smart transportation market, by solution, 2018 - 2030 (USD Billion)
TABLE 30 U.S. smart transportation market, by service 2018 - 2030 (USD Billion)
TABLE 31 Canada smart transportation market, 2018 - 2030 (USD Billion)
TABLE 32 Canada smart transportation market, by solution, 2018 - 2030 (USD Billion)
TABLE 33 Canada smart transportation market, by service 2018 - 2030 (USD Billion)
TABLE 34 Europe smart transportation market, 2018 - 2030 (USD Billion)
TABLE 35 Europe smart transportation market, by solution, 2018 - 2030 (USD Billion)
TABLE 36 Europe smart transportation market, by service 2018 - 2030 (USD Billion)
TABLE 37 Germany smart transportation market, 2018 - 2030 (USD Billion)
TABLE 38 Germany smart transportation market, by solution, 2018 - 2030 (USD Billion)
TABLE 39 Germany smart transportation market, by service 2018 - 2030 (USD Billion)
TABLE 40 U.K. smart transportation market, 2018 - 2030 (USD Billion)
TABLE 41 U.K. smart transportation market, by solution, 2018 - 2030 (USD Billion)
TABLE 42 U.K. smart transportation market, by service 2018 - 2030 (USD Billion)
TABLE 43 Asia Pacific smart transportation market, 2018 - 2030 (USD Billion)
TABLE 44 Asia Pacific smart transportation market, by solution, 2018 - 2030 (USD Billion)
TABLE 45 Asia Pacific smart transportation market, by service 2018 - 2030 (USD Billion)
TABLE 46 China smart transportation market, 2018 - 2030 (USD Billion)
TABLE 47 China smart transportation market, by solution, 2018 - 2030 (USD Billion)
TABLE 48 China smart transportation market, by service 2018 - 2030 (USD Billion)
TABLE 49 India smart transportation market, 2018 - 2030 (USD Billion)
TABLE 50 India smart transportation market, by solution, 2018 - 2030 (USD Billion)
TABLE 51 India smart transportation market, by service 2018 - 2030 (USD Billion)
TABLE 52 Japan smart transportation market, 2018 - 2030 (USD Billion)
TABLE 53 Japan smart transportation market, by solution, 2018 - 2030 (USD Billion)
TABLE 54 Japan smart transportation market, by service 2018 - 2030 (USD Billion)
TABLE 55 Latin America smart transportation market, 2018 - 2030 (USD Billion)
TABLE 56 Latin America smart transportation market, by solution, 2018 - 2030 (USD Billion)
TABLE 57 Latin America smart transportation market, by service 2018 - 2030 (USD Billion)
TABLE 58 Brazil smart transportation market, 2018 - 2030 (USD Billion)
TABLE 59 Brazil smart transportation market, by solution, 2018 - 2030 (USD Billion)
TABLE 60 Brazil smart transportation market, by service 2018 - 2030 (USD Billion)
TABLE 61 MEA smart transportation market, 2018 - 2030 (USD Billion)
TABLE 62 MEA smart transportation market, by solution, 2018 - 2030 (USD Billion)
TABLE 63 MEA smart transportation market, by service 2018 - 2030 (USD Billion)
List of Figures
Fig. 1 Smart transportation market segmentation
FIG. 2 Global smart transportation market, (USD Billion), 2018 - 2030
FIG. 3 Smart transportation value chain analysis
FIG. 4 Smart transportation market dynamics
FIG. 5 Road traffic death rate, 2022
FIG. 6 Key opportunities prioritized
FIG. 7 Smart transportation - Porter’s analysis
FIG. 8 Smart transportation PESTEL analysis
FIG. 9 Smart transportation market share by solution, 2018 & 2030
FIG. 10 Smart transportation market share by service, 2018 & 2030
FIG. 11 Smart transportation market share by region, 2018 & 2030
Companies Mentioned
- 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
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 120 |
| Published | January 2023 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 121.36 Billion |
| Forecasted Market Value ( USD | $ 285.12 Billion |
| Compound Annual Growth Rate | 13.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
