A new Report by Delvens, titled "Smart Transportation Market” offers a comprehensive analysis of the industry, which comprises insights on the Global analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market, the global Smart Transportation Market size is expected to reach USD 377.1 billion and is projected to reach a CAGR of 17.6% from 2023-2030.
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The smart transport market has experienced rapid expansion and is anticipated to do so in the years to come. The necessity for effective transit infrastructure, rapid urbanization, and population increase have been the main factors driving this industry. Demand for intelligent and connected transportation systems that can optimize traffic flow, alleviate congestion, and improve overall mobility is rising as cities become more crowded.
The use of IoT technology is one of the key trends in the market for smart transportation. Real-time data may be gathered and analyzed from a variety of sources, including infrastructure, sensors, and moving vehicles, thanks to IoT connectivity. To make wise judgments and streamline transportation operations, this data is employed. IoT-enabled sensors, for instance, may track air quality, parking availability, and traffic flow, offering crucial information for traffic management and urban planning.
The combination of cutting-edge technology and creative solutions to completely transform how we carry people and things is referred to as the "Smart Transportation Market." It includes a broad range of programs and initiatives that seek to improve the effectiveness, security, sustainability, and practicality of transportation networks.
The prominent players in Smart Transportation Market are:
· Cisco Systems, Inc.
· Siemens AG
· IBM Corporation
· General Electric Company
· Thales Group
· Cubic Corporation
· Alstom SA
· Kapsch TrafficCom AG
· TomTom NV
· Huawei Technologies Co., Ltd.
· Hitachi
· SAP
· Toshiba
· SAAB
· Veson Nautical
· Bass Software
· Bentley Systems
· Trimble
· Amadeus
· Conduent and More
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In the market for smart transportation, artificial intelligence, and data analytics are also quite important. Large data sets may be processed by AI systems to find trends, forecast traffic jams, and improve route planning. These technologies make it possible to create intelligent transportation systems that can adapt in real-time to changing traffic patterns, weather patterns, and other circumstances. The identification of abnormalities, such as accidents or vehicle breakdowns, and fast notifications or automated replies improve the safety of transportation networks.
Smart Transportation Market is segmented into various segments such as technology, solution, service, and region:
On the basis of technology
· IoT
· AI
· Big Data Analytics
· Connected and Autonomous Vehicles (CAV)
On the basis of solution
· Traffic Management Systems
· Parking Management Systems
· Ticketing and Fare Management Systems
On the basis service
· Professional Services
· Managed Services
On the basis of region
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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