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The global market for smart transportation is driven by the emergence of intelligent software integration in vehicles and stationary transport infrastructure. The enhanced services like integrated supervision system aid in controlling the traffic, minimising accidents, and provide safety measures to self-driven and traditional vehicles. Furthermore, the public transportation segment is anticipated to extract maximum benefits from smart transportation technology, thus significantly contribute to the market growth. With services like ticket management, the airline industry is anticipated to provide facilities like self-boarding, and self-check-in, consequently reducing the dependency on the manual force, especially during peak hours, thus invigorating the market growth. In addition, the ticketing management system is further flourishing with the outburst of coronavirus, which requires minimum human interaction to reduce the risk of infection. Furthermore, advanced solutions integrated with cloud services that can store data generated from smart transportation solutions are further aiding the industry growth.
A global leader in the market for smart transportation, Alstom SA (EPA: ALO), recently announced the integration of smart technology in the railway transportation system of Sydney, Australia, in September 2021. The project aims at designing, delivering, and providing long-term service support for European Train Control System Level 2 (ETCS) trackside signalling technology. The smart solutions are anticipated to enable the seamless future implementation of future technology throughout an extensive railway network. In addition, the intelligent rail systems by Alstom SA are aimed at providing a complete system for optimal efficiency and safety, along with several benefits like improved passenger experience with more reliable services, reduced journey time, and enhanced real-time information. Such innovations by leading market players are anticipated to bolster the market for smart transportation technology.
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The major players in the global smart transportation market are Accenture PLC, Cisco Systems, Inc., General Electric Company, IBM Corporation, and Alstom SA, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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