Smart Transportation Market Latest Trends & Prophesy 2025

Global Smart Transportation Market: Snapshot

The global market for smart transportation has been gaining immense growth in the last few years. The rising population and the high rate of demographic growth are some of the major factors accelerate the growth of the global smart transportation market in the coming years. Governments, across the globe have been investing heavily to promote smart transportation, which is projected to encourage the market growth in the coming years.

The increasing adoption of E-flexi payment systems and the tremendous rise in the use of mobile phones are further projected to accelerate the overall growth of the global smart transportation market in the coming years. In addition to this, the rising demand of safety system and integrated security for enhancing public safety is predicted to encourage market growth in the near future.

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In the last few years, Europe has been leading the global smart transportation market and is estimated to remain in the similar position in the next few years. The increasing rate of digitalization in diverse industries is one of the key factors projected to accelerate the growth of the Europe market in the coming years.

Furthermore, the competition among the leading players operating in the smart transportation market across the globe is projected to get intense in the next few years. The favorable government initiatives and the increasing concern for environmental protection are projected to enhance the growth of the market in the near future. Moreover, the rising research and development activities are further expected to enhance the growth of the global smart transportation market.

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Global Smart Transportation Market: Overview 

The global market for smart transportation is estimated to grow at a healthy pace in the next few years. The rising number of initiatives by governments in several emerging economies for smart cities is projected to encourage the growth of the overall market in the forecast period. In addition, the rising investments in the transportation sector and rising level of competition among the leading players are anticipated to contribute towards the development of the global smart transportation market in the next few years.

Global Smart Transportation Market: Key Trends

The increasing urban population and the rising concerns related to the environment protection are the major factors that are projected to augment the growth of the global smart transportation market in the coming years. In addition, the high rate of demographic growth and the increasing adoption rate of smart and connected technologies are projected to accelerate the overall development of the market in the next few years.

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However, the unavailability of uniform standards and technologies is estimated to curtail the growth of the global smart technologies market in the near future. In addition, the lack of required ICT infrastructure, network, and interoperability in several emerging economies are predicted to hamper the growth of the market in the coming years. Nonetheless, the increasing number of government initiatives to encourage the concept of smart cities is likely to accelerate the growth of the smart transportation market across the globe.

Global Smart Transportation Market: Market Potential

The tremendously rising use of mobile phones and the increasing adoption of E-flexi payment systems are projected to generate promising growth opportunities for the key players operating in the global market for smart transportation. Moreover, the rising number of analytics-based transport solution providers across the globe is estimated to accelerate the market’s growth in the next few years.

Global Smart Transportation Market: Regional Outlook

Among the key regional segments, Europe is anticipated to lead the global smart transportation market throughout the forecast period. This region is likely to hold a massive share of the overall market, thanks to the high rate of digitalization in diverse industrial verticals. In addition, technological developments and the increasing rate of adoption of smart connected devices are estimated to accelerate the growth of the Europe market in the next few years.

Furthermore, the presence of a strong government vision encouraging the development of smart transportation systems and the development of network infrastructure are estimated to encourage the growth of the smart transportation market in Europe throughout the forecast period.

Global Smart Transportation Market: Competitive Analysis

The global market for smart transportation is extremely fragmented in nature, with a presence of several players operating in it. With the rising number of players estimated to enter the market in the coming years, the market is likely to witness a high level of competition among the leading players. Some of the leading players operating in the smart transportation market across the globe are Tomtom International Bv, General Electric Company, Kapsch Trafficcom AG, Cisco Systems, Inc., Thales Group, Siemens AG, International Business Machines Corporation, Alstom SA, WS Atkins PLC, Q-Free ASA, LG CNS Co., Ltd., Cubic Corporation, and Indra Sistemas, S.A.

The key players in the market are emphasizing on advancements in the technology in order to enhance their presence across the globe and attain a leading position in the market. In addition, development of new product, innovations, and the rising number of mergers and acquisitions are anticipated to encourage the growth of the overall market and benefit the leading players in the global smart transportation market in the next few years.

Smart Transportation Market In-depth Assessment of the Competition by 2025

Global Smart Transportation Market: Overview 

The global market for smart transportation is estimated to grow at a healthy pace in the next few years. The rising number of initiatives by governments in several emerging economies for smart cities is projected to encourage the growth of the overall market in the forecast period. In addition, the rising investments in the transportation sector and rising level of competition among the leading players are anticipated to contribute towards the development of the global smart transportation market in the next few years.

Global Smart Transportation Market: Key Trends

The increasing urban population and the rising concerns related to the environment protection are the major factors that are projected to augment the growth of the global smart transportation market in the coming years. In addition, the high rate of demographic growth and the increasing adoption rate of smart and connected technologies are projected to accelerate the overall development of the market in the next few years.

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However, the unavailability of uniform standards and technologies is estimated to curtail the growth of the global smart technologies market in the near future. In addition, the lack of required ICT infrastructure, network, and interoperability in several emerging economies are predicted to hamper the growth of the market in the coming years. Nonetheless, the increasing number of government initiatives to encourage the concept of smart cities is likely to accelerate the growth of the smart transportation market across the globe.

Global Smart Transportation Market: Market Potential

The tremendously rising use of mobile phones and the increasing adoption of E-flexi payment systems are projected to generate promising growth opportunities for the key players operating in the global market for smart transportation. Moreover, the rising number of analytics-based transport solution providers across the globe is estimated to accelerate the market’s growth in the next few years.

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Global Smart Transportation Market: Regional Outlook

Among the key regional segments, Europe is anticipated to lead the global smart transportation market throughout the forecast period. This region is likely to hold a massive share of the overall market, thanks to the high rate of digitalization in diverse industrial verticals. In addition, technological developments and the increasing rate of adoption of smart connected devices are estimated to accelerate the growth of the Europe market in the next few years.

Furthermore, the presence of a strong government vision encouraging the development of smart transportation systems and the development of network infrastructure are estimated to encourage the growth of the smart transportation market in Europe throughout the forecast period.

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https://www.tmrresearch.com/smart-transportation-market

Global Smart Transportation Market: Competitive Analysis

The global market for smart transportation is extremely fragmented in nature, with a presence of several players operating in it. With the rising number of players estimated to enter the market in the coming years, the market is likely to witness a high level of competition among the leading players. Some of the leading players operating in the smart transportation market across the globe are Tomtom International Bv, General Electric Company, Kapsch Trafficcom AG, Cisco Systems, Inc., Thales Group, Siemens AG, International Business Machines Corporation, Alstom SA, WS Atkins PLC, Q-Free ASA, LG CNS Co., Ltd., Cubic Corporation, and Indra Sistemas, S.A.

The key players in the market are emphasizing on advancements in the technology in order to enhance their presence across the globe and attain a leading position in the market. In addition, development of new product, innovations, and the rising number of mergers and acquisitions are anticipated to encourage the growth of the overall market and benefit the leading players in the global smart transportation market in the next few years.

Smart Transportation Market: Government Initiatives to Develop Smart Cities Behind Growth

San Francisco, California, Feb 05, 2017: TMR Research has published a new report titled, “Smart Transportation Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025. According to the report, the global smart transportation market is receiving an impetus on account of the rising number of initiatives taken by governments across the developing nations for developing smart cities. The rising investments in the transportation sector is also aiding the growth of this market. In addition to this, the level of competition among market players is increasing which in turn is proving to be beneficial for the global smart transportation market. Some of the other factors leading to a growth in the smart transportation market include rising open population, growing concerns regarding the protection of environment, high rate of demography growth, and rising adoption of connected technologies and smart technologies.

The tremendous rise in the use of smartphones is undeniably an important factor boosting the growth of the global transportation market. In addition to this, the rising number of analytics-based transportation solution providers has increased tenfold across the globe, and this is helping the market for smart transportation to grow. The rising adoption of e-flexi payment systems is also expected to create many growth opportunities in the future for the players within the global smart transportation market.

On the other hand, there are a few factors which are expected to challenge the growth of the smart transportation market. The unavailability of uniform standards and technologies is one of the important factors expected to restrict the growth of this market. The lack of necessary ICT infrastructure is also acting as a huge setback. This is especially true in emerging economies where there is a lack of interoperability as well as network, apart from ICT infrastructure. Nevertheless, governments across the emerging nations are taking great efforts for encouraging the concept of smart cities as well as taking initiatives for the same and this will bolster the growth of transportation market in the years to come.

On the basis of geography, it is expected that Europe will continue to lead in the global smart transportation market from 2017 to 2025 on account of the growing rate of digitalization across industry verticals. The technological developments as well as the rising adoption of smart connected devices within Europe are other important factors attributed to the growth of the European smart transportation market. Apart from all these factors the presence of a strong government vision which encourages the development of smart transportation systems as well as the presence of advanced network infrastructure are expected to boost the growth of the smart transportation market in Europe through 2025.

The leading players within the global smart transportation market are concentrating on developing advanced technology in order to gain a competitive edge among the rest of the players. Development of new products, innovations, and a rising number of mergers and acquisition activities are expected to be three important strategies adopted by key players within the global smart transportation market. The competition within the market is anticipated to increase as it is estimated that many new players will enter the market in the next few years.

The names of the leading players within the global smart transportation market are: Tomtom International Bv, Kapsch Trafficcom AG, General Electric Company, Cisco Systems, Inc., Siemens AG, Thales Group, International Business Machines Corporation, WS Atkins PLC, Alstom SA, Q-Free ASA, LG CNS Co., Ltd., Indra Sistemas, S.A., and Cubic Corporation.

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