Global Smart Transportation Market 2018-2023: A $116.85 Billion Opportunity - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Aug 22, 2018--The “Global Smart Transportation Market (2018-2023)” report has been added to ResearchAndMarkets.com’s offering.
The Global Smart Transportation Market is expected to reach USD 116.85 Bn by 2023, expanding at a CAGR of 9%.
Technological advancements are transforming the way people travel. Nowadays, vehicles are connected by an array of sensors, which guides them in traffic, and is very useful for vehicle management. With the advent of the Internet of Things (IoT), the vision of safe transportation is evolving at a rapid pace. Utilization of smart technologies with the intention of building smart cities is frantically expanding across the world. Over 1 billion connected things are installed around the globe under smart cities’ project initiatives.
Smart transportation is a seen as a major part of the smart city projects where infrastructures are playing an important role in providing a platform to implement a connected ecosystem. With the rise in urbanization globally, investments are pouring into the smart transportation market. The US Department of Transportation invested approximately USD 160 Bn in 2016 for smart cities solutions. These projects are intended to provide better parking and traffic management solutions.
Worldwide popularity of cloud-based technologies and related solutions are driving the adoption of smart transportation. The automotive industry is adopting cloud technology for navigation, social connection, infotainment, etc. Moreover, the data collected enhances the qualitative analysis of current transportation infrastructure and helping in the implementation of advanced solutions and increase safety. The continuous demand for improvement in public transport facilities, and safety is driving the smart transportation business.
The emerging trend of smart connected technology is boosting the acceptance of smart vehicles. The demand for smart parking is ever increasing due to massive traffic congestion and lack of parking space caused by growing number of vehicles. Using smart sensors and parking meters helps drivers check for free parking space and reserve it in advance.
Companies FeaturedSiemens AG Cubic Corporation IBM Accenture PLC Cisco Systems Xerox Corporation General Electric Company LG CNS Thales Group Alstom SA
Key Topics Covered
Chapter 1. Executive Summary
Chapter 2. Global Smart Transportation Market - Market Overview
Chapter 3. North America Smart Transportation Market - Market Overview
Chapter 4. Europe Smart Transportation Market - Market Overview
Chapter 5. Asia Pacific Smart Transportation Market - Market Overview
Chapter 6. Latin America Smart Transportation Market - Market Overview
Chapter 7. Middle East and Africa Smart Transportation Market - Market Overview
Chapter 8. Competitive Landscape
Chapter 9. Conclusion
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Related Topics:Automotive and Transport,Telematics and Vehicle Electronics
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SOURCE: Research and Markets
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PUB: 08/22/2018 04:10 AM/DISC: 08/22/2018 04:11 AM