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NEW YORK, UNITED STATES, January 14, 2022 /EINPresswire.com / -- Overview -
New Research Study on Smart Transportation Market discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Basic management systems, traffic signal control systems, automated number plate recognition (ANPR), and speed cameras are all examples of smart transportation technologies. Advanced programmes evaluate and combine real-time data from many external sources. Smart transportation can improve city life by making transportation safer and more convenient, in addition to lowering traffic congestion. People can commute with less usage of their cars and save time and money by using a linked bike and pedestrian network.
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Furthermore, smart mobility systems can help to improve public health by encouraging people to live healthier lifestyles. While smart transportation infrastructure installation necessitates a significant investment, the benefits are numerous. Transportation systems will be more responsive and connected as a result of ICT integration, with real-time traffic information for individual drivers. Cities can also better plan for travel needs, minimise traffic congestion, and make better use of parking metres and fees. As a result, your fuel cost will be lower and your air quality will be better. Furthermore, incorporating intelligent transportation can cut travel time and expenditures.
Smart Transportation Market Top Growing Key Players -
· Accenture Plc
· Amano Corporation
· Alstom SA
· Cisco Systems Inc.
· Cubic Corporation
· Gemalto N.V.
· Indigo Infra S.A.
· Inrix Inc.
· International Business
· Machines Corporation (IBM)
· Kapsch Trafficom GmbH
· Msr-traffic GmbH
· Siemens AG.
Market Drivers: -
The global smart transportation market is predicted to rise as the number of commercial cars on the road increases. According to the Organization Internationale des Constructeurs d'Automobiles, there will be around 24.1 million commercial cars in the world in 2020. Smart transportation systems will increase efficiency and provide residents with new economic options. They will also offer towns and governments with useful information. Smart mobility will, in the end, make cities safer and more competitive. The system will also be more inclusive, with jobs available to underserved populations.
Furthermore, corporations will carefully assess transportation systems. These advantages will, without a doubt, benefit everyone. So, if consumers want to make their city better, they should look at smart technology and smart transportation. Increasing services launched by key market players are estimated to enhance the growth of the global smart transportation market
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Covid-19 Impact Analysis:
During the COVID-19 pandemic, the global transport sector faced a lot of challenges, which also affected the growth of the global smart transportation market. The challenges mainly include increasing incidence of COVID positive cases, transport restrictions, and lockdown regulations in many nations
Smart Transportation Market Taxonomy -
On the basis of mode of transportation, the global smart transportation market is segmented into:
· Railways
· Roadways
· Airways
· Seaways
On the basis of services, the global smart transportation market is segmented into:
· Consulting
· Integration and Deployment
· Maintenance & Support
On the basis of solution, the global smart transportation market is segmented into:
· Integrated Supervision Solution
· Traffic Management Solution
· Parking Management Solution
· Smart Ticketing Solution
· Others (Passenger Information Solution, Insurance Telematics Solution)
Methodology of Research -
The accurate information in the Smart Transportation market research is supplied in the shape of diagrams and pie graphs for the convenience of readers. The overall presentation of the report is interesting, with a basic structure, arrangements, and specific data based on reassurance and awareness. Administrators, major actors on the lookout, topographical division, product type and depiction, and market end-customer applications were all analysed by the investigation team. For each segment and region, it calculates transaction revenues. The report's goal is to give a more complete view of the current situation, the economic slump, and COVID-19's impact on the overall business.
Key Takeaways:
· The size of the global smart transportation market is assessed to increase at a CAGR of 10.6%, owing to increasing service and product launches by key market players in the world. For instance, in January 2019, Iteris and Cisco partnered in order to deliver a connected roadway network through IoT technology.
· North America is expected to dominate the growth of the global smart transportation market, owing to the increasing prevalence of key market players in the region. For instance, in April 2019, Sund & Bælt and IBM collaborated to develop a new AI-Powered IoT solution for helping clients to monitor and manage railways, highways, tunnels, and bridges.
· The Asia Pacific is estimated to witness significant growth of the global smart transportation market, owing to the increasing prevalence of commercial vehicle and transport networks in the region. Moreover, increasing investments in smart transportation systems are assessed to boost the growth of the market.
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The following are the study objectives for this report:
· SWOT Analysis focuses on worldwide main manufacturers to define, assess, and analyze market competition. By kind, application, and region, the market is defined, described, and forecasted.
· Examine the global and main regional market potential and advantage, opportunity and challenge, constraints and risks.
· Determine whether trends and factors are driving or limiting market growth.
· By identifying high-growth categories, stakeholders would be able to analyze market potential.
· Conduct a strategic study of each submarket's growth trends and market contribution.
· Expansions, agreements, new product launches, and acquisitions in the market are all examples of competitive developments.
· To create a strategic profile of the main players and analyze their growth plans in depth.
Mr. Shah
Coherent Market Insights Pvt. Ltd.
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