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Smart Transportation Market: By Type, By Application, By Mode of Transportation, and Geography
Smart Transportation Market: By Type, By Application, By Mode of Transportation, and Geography
Smart Transportation Market size was valued at US$ 134,287.9 million in 2023 and is poised to grow at a CAGR of 14.7% from 2024 to 2030. Smart transportation refers to the application of cutting-edge and emerging technologies intended to enhance the effectiveness, safety, and eco-friendliness of transportation systems. This involves innovations like live traffic monitoring, predictive vehicle maintenance, intelligent transportation systems, and interconnected autonomous vehicles. The major objective of smart transportation is to launch a unified, seamlessly functioning, and resource-efficient transport network that relieves traffic congestion, enhances mobility, and minimizes the ecological footprint of transportation.
Furthermore, infrastructure renovations, governmental policies endorsing the use of sustainable fuels in public vehicles, and the implementation of plans to effectively deliver mobility services to ever-growing cities are all methods to attain this smart transportation information. Real-time traffic navigation enables vehicles to communicate with their surroundings, avoiding traffic jams and collisions will contribute to market growth. The increasing adoption of smartphones in developing countries generates new opportunities in the smart transportation market. In addition, the growing urban population and increased demographic rates are further projected to offer possible opportunities for the growth of the smart transportation market in the coming years. However, the requirement of the huge investment for replacing the existing infrastructure with the smart technological system is a restraining factor in the expansion of the smart transportation market.
Study Period
2024-2030Base Year
2023CAGR
14.7%Largest Market
North AmericaFastest Growing Market
Asia Pacific
Increasing adoption of advanced technologies such as artificial intelligence, IoT related to machine learning, and big data analytics is driving the market growth. The growing combination of cutting-edge technologies like Artificial Intelligence (AI) in smart transportation is revolutionizing the way users experience travel. These innovations enable travelers to bypass annoying waits at crowded transportation hubs by providing comprehensive information on real-time arrivals and departures. Furthermore, the application of these technologies in the automotive sector is significantly uplifting user satisfaction and convenience. They accomplish this by managing functions like lane keeping, lane changes, and precise GPS-guided navigation towards the intended destination. In Addition, the integration of smart transportation Internet of Things (IoT) solutions into smart city initiatives has enabled government entities to develop urban transport infrastructure. This development contributes to the overall efficiency and safety of transportation systems, promoting both residents and communities.
Based on regions, the market share is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA. The North American region is the largest adopter of smart transportation solutions due to the growing importance of regional governments on improving the transportation infrastructure, against the backdrop of congested highways, poor air quality, and growing highway accidents and fatalities. Major companies in the ICT sector that are suppliers of smart transportation solutions are established in the U.S. In addition, other major companies associated with the transport infrastructure are likely to collaborate and innovate solutions by using a wide spectrum of their technical expertise and benefit the region. The European region is anticipated to present major opportunities for industry expansion, owing to the rapid adoption of technology and rising traffic congestion in the major cities. The growth of the smart transportation industry is predicted to accelerate due to factors such as increased car use, which leads to increased parking challenges, and increased demand for efficient transportation worldwide.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 134,287.9 million |
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Market CAGR |
14.7% |
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By Type |
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By Application |
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By Mode Of Transportation |
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By Region |
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The global smart transportation market size was valued at US$ 134,287.9 million in 2023 and is projected to grow at a CAGR of 14.7% from 2024 to 2030.
The key drivers for the smart transportation market are the growing demand among transportation authorities to develop smart solutions to control traffic, and progress road and passenger safety.
The European region is expected to lead the Smart Transportation market.
The leading players in the smart transportation market are IBM, Xerox Corporation, Cubic Corporation, Accenture Plc, Oracle, Siemens, HITACHI,, Alstom SA., Cisco Systems, GE Transportation, Thales S.A., Apsch AG.
Historic years considered for the market study are 2019 to 2022, 2023 is considered as the base year for market estimation and the forecast presented from 2024 to 2030.
| 1. Executive Summary |
| 2. Global Smart Transportation Market Introduction |
| 2.1. Global Smart Transportation Market Taxonomy |
| 2.2. Global Smart Transportation Market Definitions |
| 2.2.1. Type |
| 2.2.2. Application |
| 2.2.3. Mode of Transportation |
| 3. Global Smart Transportation Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Smart Transportation Market Dynamic Factors - Impact Analysis |
| 3.6. Global Smart Transportation Market Competition Landscape |
| 4. Global Smart Transportation Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Smart Transportation Market Forecast, By Type, 2019 - 2023 and Forecast, 2024 - 2030 |
| 5.1. Software |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Hardware |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Services |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6. Global Smart Transportation Market Forecast, By Application, 2019 - 2023 and Forecast, 2024 - 2030 |
| 6.1. Navigation |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Parking Management & Guidance System |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Ticketing Management System |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Integrated Supervision System |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Traffic Management System |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Signalling |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Safety & Security |
| 6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 6.8. Others |
| 6.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.8.3. Market Opportunity Analysis |
| 7. Global Smart Transportation Market Forecast, By Modes of Transportation, 2019 - 2023 and Forecast, 2024 - 2030 |
| 7.1. Road Traansportation |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Rail Transportation |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 8. Global Smart Transportation Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia-Pacific |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Latin America |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Middle East and Africa |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 8.6. Global Smart Transportation Market - Opportunity Analysis Index, By Type, By Application, By Mode of Transportation, and Region, 2020 - 2026 |
| 9. North America Smart Transportation Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.1.1. Software |
| 9.1.2. Hardware |
| 9.1.3. Services |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Navigation |
| 9.2.2. Parking Management & Guidance System |
| 9.2.3. Ticketing Management System |
| 9.2.4. Integrated Supervision System |
| 9.2.5. Traffic Management System |
| 9.2.6. Signalling |
| 9.2.7. Safety & Security |
| 9.2.8. Others |
| 9.3. Mode of Transportation Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Road Transportation |
| 9.3.2. Rail Transportation |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.4.1. USA |
| 9.4.2. Canada |
| 9.5. North America Smart Transportation Market - Opportunity Analysis Index, By Type, By Application, By Mode of Transportation, and Country, 2020 - 2026 |
| 9.6. North America Smart Transportation Market Dynamics Trends |
| 10. Europe Smart Transportation Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 10.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.1.1. Software |
| 10.1.2. Hardware |
| 10.1.3. Services |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Navigation |
| 10.2.2. Parking Management & Guidance System |
| 10.2.3. Ticketing Management System |
| 10.2.4. Integrated Supervision System |
| 10.2.5. Traffic Management System |
| 10.2.6. Signalling |
| 10.2.7. Safety & Security |
| 10.2.8. Others |
| 10.3. Mode of Transportation Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Road Transportation |
| 10.3.2. Rail Transportation |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.4.1. Germany |
| 10.4.2. UK |
| 10.4.3. France |
| 10.4.4. Spain |
| 10.4.5. Italy |
| 10.4.6. Russia |
| 10.4.7. Poland |
| 10.4.8. Rest of Europe |
| 10.5. Europe Smart Transportation Market - Opportunity Analysis Index, By Type, By Application, By Mode of Transportation and Country, 2020 - 2026 |
| 10.6. Europe Smart Transportation Market Dynamics Trends |
| 11. Asia-Pacific Smart Transportation Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 11.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.1.1. Software |
| 11.1.2. Hardware |
| 11.1.3. Services |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Navigation |
| 11.2.2. Parking Management & Guidance System |
| 11.2.3. Ticketing Management System |
| 11.2.4. Integrated Supervision System |
| 11.2.5. Traffic Management System |
| 11.2.6. Signalling |
| 11.2.7. Safety & Security |
| 11.2.8. Others |
| 11.3. Mode of Transportation Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Road Transportation |
| 11.3.2. Rail Transportation |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.4.1. Japan |
| 11.4.2. China |
| 11.4.3. India |
| 11.4.4. ASEAN |
| 11.4.5. Australia & New Zealand |
| 11.4.6. Rest of Asia-Pacific |
| 11.5. Asia-Pacific Smart Transportation Market - Opportunity Analysis Index, By Type, By Application, By Mode of Transportation and Country, 2020 - 2026 |
| 11.6. Asia-Pacific Smart Transportation Market Dynamics Trends |
| 12. Latin America Smart Transportation Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 12.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.1.1. Software |
| 12.1.2. Hardware |
| 12.1.3. Services |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.2.1. Navigation |
| 12.2.2. Parking Management & Guidance System |
| 12.2.3. Ticketing Management System |
| 12.2.4. Integrated Supervision System |
| 12.2.5. Traffic Management System |
| 12.2.6. Signalling |
| 12.2.7. Safety & Security |
| 12.2.8. Others |
| 12.3. Mode of Transportation Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Road Transportation |
| 12.3.2. Rail Transportation |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.4.1. Brazil |
| 12.4.2. Mexico |
| 12.4.3. Argentina |
| 12.4.4. Rest of Latin America |
| 12.5. Latin America Smart Transportation Market - Opportunity Analysis Index, By Type, By Application, By Mode of Transportation and Country, 2020 - 2026 |
| 12.6. Latin America Smart Transportation Market Dynamics Trends |
| 13. Middle East and Africa Smart Transportation Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 13.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.1.1. Software |
| 13.1.2. Hardware |
| 13.1.3. Services |
| 13.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.2.1. Navigation |
| 13.2.2. Parking Management & Guidance System |
| 13.2.3. Ticketing Management System |
| 13.2.4. Integrated Supervision System |
| 13.2.5. Traffic Management System |
| 13.2.6. Signalling |
| 13.2.7. Safety & Security |
| 13.2.8. Others |
| 13.3. Mode of Transportation Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.3.1. Road Transportation |
| 13.3.2. Rail Transportation |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 13.4.1. Gulf Cooperation Council (GCC) Countries |
| 13.4.2. Israel |
| 13.4.3. South Africa |
| 13.4.4. Rest of MEA |
| 13.5. MEA Smart Transportation Market - Opportunity Analysis Index, By Type, By Application, By Mode of Transportation and Country, 2020 - 2026 |
| 13.6. MEA Smart Transportation Market Dynamics Trends |
| 14. Competition Landscape |
| 14.1. Strategic Dashboard of Top Market Players |
| 14.2. Company Profiles (Introduction, Financial Analysis, Feedstock Material & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 14.2.1. IBM |
| 14.2.2. Xerox Corporation |
| 14.2.3. Cubic Corporation |
| 14.2.4. Accenture Plc |
| 14.2.5. Oracle |
| 14.2.6. Siemens |
| 14.2.7. HITACHI |
| 14.2.8. Alstom SA. |
| 14.2.9. Cisco Systems |
| 14.2.10. GE Transportation |
| 14.2.11. Thales S.A. |
| 14.2.12. Apsch AG |
| 15. Research Methodology |
| 16. Key Assumptions and Acronyms |
Key Market Players
Author
Sravani is a proficient Business Analyst with an MBA and a background in Computer Science, with seven years of experience in the field of market research. Sravani is adept at creating competitive evaluations, precise market estimations, and market projections, emphasizing the food and beverage and information and communication technology (ICT) industries. Her areas of competence are identifying important players, projecting market trends, and assessing the potential for industry growth. She applies a strong analytical approach to provide precise market estimates and thorough industry analysis, empowering organizations to make data-driven decisions. Sravani's estimating and forecasting abilities are essential for businesses to take advantage of new opportunities and effectively manage dynamic market environments.