According to a new market research report, published by US-headquartered global market research and consulting company 6418 MarketsAndMarkets, the smart transportation market expected to reach more than $102.31 billion by 2018, at a compound annual growth rate (CAGR) of 23.6 per cent.
The report, Smart Transportation Market - by Solutions (Ticketing Management, Parking Management, Passenger Information, Traffic Management), Services (Traditional, Advanced, Software) Worldwide Analysis and Forecasts (2012 - 2018), concludes that smart transportation is all about smartening the smart streets. This entails providing comprehensive real-time, data-driven capability for designing and implementing policies and operational strategies for traffic, public transport, and urban planning.
The market for smart transportation is fuelled by the advancements across the information and communication technology (ICT) industry. The report on smart transportation report consists of the opportunity analysis of technology adoption across all solution and services market. The report focuses on estimating and forecasting the market potential of the major sub-segments of transportation, which are parking management and guidance, passenger information, integrated supervision, traffic management and ticketing management market.
The report also covers the market potential for the services industry catering to smart transportation. These services include traditional services, advanced services, and software services, covering new technologies such as business analytics and cloud computing. The report also focuses on technologies & standards and analyzes market drivers, restraints, trends and opportunities, along with a study on key players, and the competitive outlook.
The overall smart transportation market, valued at US$26.70 billion in 2012, is forecasted to grow at US$102.31 billion by 2018, at a CAGR of 23.6 per cent for the period 2013 to 2018. In smart transportation types market, we observe solutions market to be the fastest growing market with CAGR of 22.5 per cent, growing to $66.62 billion by 2018. Apart from the systems and solutions markets, the market for services is also observed to grow at a significant pace. Other than traditional services associated to maintenance, repair, replace, upgrades or operations outsourcing, there are additional services such as consulting (business, operation, change management, transformation and people management) and software services (business analytics and cloud computing) which have gained major traction in this market.
In addition to market sizes and forecasts, the report also provides a detailed analysis of the market trends and factors influencing market growth, offering in-depth geographic analyses of the smart transportation market in North America, Latin America, Western-Europe, Commonwealth of Independent States (CIS) plus Eastern Europe, Asia-Pacific (APAC), and Middle East and Africa (MEA).
The report, Smart Transportation Market - by Solutions (Ticketing Management, Parking Management, Passenger Information, Traffic Management), Services (Traditional, Advanced, Software) Worldwide Analysis and Forecasts (2012 - 2018), concludes that smart transportation is all about smartening the smart streets. This entails providing comprehensive real-time, data-driven capability for designing and implementing policies and operational strategies for traffic, public transport, and urban planning.
The market for smart transportation is fuelled by the advancements across the information and communication technology (ICT) industry. The report on smart transportation report consists of the opportunity analysis of technology adoption across all solution and services market. The report focuses on estimating and forecasting the market potential of the major sub-segments of transportation, which are parking management and guidance, passenger information, integrated supervision, traffic management and ticketing management market.
The report also covers the market potential for the services industry catering to smart transportation. These services include traditional services, advanced services, and software services, covering new technologies such as business analytics and cloud computing. The report also focuses on technologies & standards and analyzes market drivers, restraints, trends and opportunities, along with a study on key players, and the competitive outlook.
The overall smart transportation market, valued at US$26.70 billion in 2012, is forecasted to grow at US$102.31 billion by 2018, at a CAGR of 23.6 per cent for the period 2013 to 2018. In smart transportation types market, we observe solutions market to be the fastest growing market with CAGR of 22.5 per cent, growing to $66.62 billion by 2018. Apart from the systems and solutions markets, the market for services is also observed to grow at a significant pace. Other than traditional services associated to maintenance, repair, replace, upgrades or operations outsourcing, there are additional services such as consulting (business, operation, change management, transformation and people management) and software services (business analytics and cloud computing) which have gained major traction in this market.
In addition to market sizes and forecasts, the report also provides a detailed analysis of the market trends and factors influencing market growth, offering in-depth geographic analyses of the smart transportation market in North America, Latin America, Western-Europe, Commonwealth of Independent States (CIS) plus Eastern Europe, Asia-Pacific (APAC), and Middle East and Africa (MEA).
