Smart Transportation Market: By Type, By Application, By Mode of Transportation, and Region Forecast 2019-2030               

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Smart Transportation Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Software, Hardware, and Services), By Application (Navigation, Parking Management & Guidance System, Ticketing Management System, Integrated Supervision System, Traffic Management System, Signaling, Safety & Security, Mobility as a Service, Public Transport, Transit Hubs, Connected Cars, and Others), By Mode of Transportation (Road Transportation, Rail Transportation, Airway Transportation, and Maritime Transportation), and Region Forecast 2019-2030               

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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 market. In addition, the growing urban population and increased demographic rates are further projected to offer possible opportunities for the growth of the 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 market.

Key Developments

  •  In May 2023,Bentley Systems invested in Flow Labs to fast-track the transportation of digital twins. The investment also makes it potential for the iTwin Platform to cover every phase of engineering, from design through building and now operations.
  • In April 2023, Accenture plc purchased Einr AS, a Norwegian business consulting firm that specializes in large-volume logistics solutions leveraging SAP technology to simplify the movement of goods from producers to consumers. Employees from Einr will reinforce Accenture's SAP services in the market with their particular skills in retail and supply chain management, transportation management, warehouse management, and assortment planning.

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Smart Transportation Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

14.7%

Largest Market

North America

Fastest Growing Market

Asia Pacific

Smart Transportation Market Dynamics

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.

Smart Transportation Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 134,287.9 million

Market CAGR

14.7%

By Type

  • Software
  • Hardware
  • Services

By Application

  • Navigation
  • Parking management & Guidance system
  • Ticketing management system
  • Signalling
  • Safety & Security
  • Mobility as a service
  • Public transport
  • Transit hubs
  • Connected cars
  • Others

By Mode Of Transportation

  • Road transportation
  • Rail transportation
  • Airway transportation
  • Maritime transportation

By Region

  • North America (U.S., Canada)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
  • Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
  • Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

Key Features of the Report

  • The smart transportation market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies.
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario.
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porters Five Force Analysis

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Frequently Asked Questions

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 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 market.

The leading players in the 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.

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Author

Sravani

Sravani is a proficient Business Analyst with an MBA and a background in Computer Science, with seven years of expe.....

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

  • IBM
  • Xerox Corporation
  • Cubic Corporation
  • Accenture Plc
  • Oracle
  • Siemens
  • HITACHI
  • Alstom SA.
  • Cisco Systems
  • GE Transportation
  • Thales S.A.
  • Apsch AG. Apsch AG

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