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Global Smart Transportation Market Size, Share, Growth: By Solution: Ticketing Management System, Parking Management System, Integrated Supervision System, Traffic Management System; By Service: Cloud Services, Business Services, Professional Services; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Smart Transportation Market Outlook
The global smart transportation market attained a value of about USD 161.23 billion in 2023. The market is further expected to grow at a CAGR of 17.2% during the forecast period of 2024-2032 to reach approximately USD 671.31 billion by 2032.
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The Rising Penetration of Technology to Augment the Market Growth of Smart Transportation
The global market for smart transportation is being driven by the advancements in technology like the introduction of the Internet of Things (IoT), Artificial Intelligence (AI), and Machine-to-Machine (M2M) connections. Smart transportation infrastructure provides rapid insights by sending real-time updates based on location intelligence and GIS technology about nearby restaurants or hospitals and can provide information on traffic insights, such as estimated time to reach the destination. Furthermore, smart transportation system enables safer transportation by combining machine learning with IoT and cellular connectivity like 4G or 5G in autonomous transportation systems, including vehicles and stationary infrastructure like intersections, thus achieving enhanced accuracy and safety, thereby augmenting the market growth of smart transportation. In addition, self-driven vehicles equipped with internet facility, and smart sensors owing to innovations in the automobile industry is aiding the industry growth of smart transportation.
Smart Transportation: Market Segmentation
Smart transportation refers to the integration of modern technology like the Internet of Things (IoT) and advanced management strategies to monitor, evaluate, and manage transportation systems to enhance efficiency and safety.
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On the basis of solution, the market can be divided into:
- Ticketing Management System
- Parking Management System
- Integrated Supervision System
- Traffic Management System
Based on service, the market can be segmented into:
- Cloud Services
- Business Services
- Professional Services
The EMR report looks into the regional markets of smart transportation like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
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Growing Demand for Sustainability to Boost the Market Growth of Smart Transportation
The market for smart transportation is anticipated to be invigorated by the emergence of smart cities over the forecast period. With devices being equipped with smart sensors that provide real-time updates on traffic movements to enhance the transportation sector, the smart transportation is predicted to exhibit healthy growth in the coming years. In addition, owing to the rising concerns regarding environmental degradation, governments around the world are making huge investments in sustainable, digital ecosystems, thus further aiding the market growth. The smart transportation systems add to sustainability by providing real time updates on traffics, thus reducing congestion, which, in turn, reduces energy wastage and cleaner air. Furthermore, the growing awareness regarding electronic vehicles owing to the presence of prominent market players is anticipated to further spur the market for smart transportation systems with equipped motion sensors.
In addition, smart transportation is gaining prevalence due to ease in government operations, such as monitoring speed and collecting toll tax, among others, which is propelling the market growth. Speed cameras installed with detectors embedded in the road or radar technology aids in monitoring the speed of vehicles, thereby reducing the risk of road accidents, therefore enhancing its market demand. In addition, owing to the digitisation of monetary services, FASTag services, which allows online collection of toll taxes, is further providing smooth driving solutions, hence augmenting the market growth for smart transportation.
Key Industry Players in the Global Smart Transportation Market
The report presents a detailed analysis of the following key players in the global smart transportation market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions.
- Accenture PLC
- Cisco Systems, Inc.
- General Electric Company
- IBM Corporation
- Alstom SA
- Others
The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Solution |
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| Breakup by Service |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Smart Transportation Market Analysis
8.1 Key Industry Highlights
8.2 Global Smart Transportation Historical Market (2018-2023)
8.3 Global Smart Transportation Market Forecast (2024-2032)
8.4 Global Smart Transportation Market by Solution
8.4.1 Ticketing Management System
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Parking Management System
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Integrated Supervision System
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Traffic Management System
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.5 Global Smart Transportation Market by Service
8.5.1 Cloud Services
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Business Services
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Professional Services
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Smart Transportation Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Smart Transportation Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Smart Transportation Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Smart Transportation Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Smart Transportation Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Smart Transportation Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Accenture PLC
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Cisco Systems, Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 General Electric Company
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 IBM Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Alstom SA
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Smart Transportation Market: Key Industry Highlights, 2018 and 2032
2. Global Smart Transportation Historical Market: Breakup by Solution (USD Billion), 2018-2023
3. Global Smart Transportation Market Forecast: Breakup by Solution (USD Billion), 2024-2032
4. Global Smart Transportation Historical Market: Breakup by Service (USD Billion), 2018-2023
5. Global Smart Transportation Market Forecast: Breakup by Service (USD Billion), 2024-2032
6. Global Smart Transportation Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Smart Transportation Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Smart Transportation Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Smart Transportation Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Smart Transportation Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Smart Transportation Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Smart Transportation Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Smart Transportation Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Smart Transportation Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Smart Transportation Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Smart Transportation Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Smart Transportation Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. North America Historical Price Trends and Forecast 2018-2028
19. Europe Historical Price Trends and Forecast 2018-2028
20. Asia Pacific Historical Price Trends and Forecast 2018-2028
21. Latin America Historical Price Trends and Forecast 2018-2028
22. Middle East and Africa Historical Price Trends and Forecast 2018-2028
23. Global Smart Transportation Market Structure
Key Questions Answered in the Report
The global smart transportation market attained a value of nearly USD 161.23 billion in 2023.
The market is projected to grow at a CAGR of 17.2% in the forecast period of 2024-2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach about USD 671.31 billion by 2032.
The market is being driven by the rising penetration of technologies like the Internet of Things (IoT) and artificial intelligence (AI), and the deployment of analytics in smart transportation.
The key trends of the market include the emergence of smart cities in major countries owing to the investments by various governments and rising concerns regarding environmental degradation.
The major regional markets for smart transportation are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
The leading solutions of smart transportation are ticketing management system, parking management system, integrated supervision system, and traffic management system.
The significant services of smart transportation include cloud services, business services, and professional services.
The key players in the global smart transportation market are Accenture PLC, Cisco Systems, Inc., General Electric Company, IBM Corporation, and Alstom SA, among others.
Analyst Review
The global smart transportation market attained a value of about USD 161.23 billion in 2023, driven by rising technological services. Aided by emergence of smart city infrastructure, the market is expected to grow at a CAGR of 17.2% in the forecast period of 2024-2032 to reach nearly USD 671.31 billion by 2032.
EMR’s meticulous research methodology delves deep into the market covering the macro and micro aspects of the industry. The market, on the basis of solution, can be divided into ticketing management system, parking management system, integrated supervision system, and traffic management system. Based on service, the market can be divided into cloud services, business services, and professional services. The major regional markets for smart transportation are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa. They key players in the industry are Accenture PLC, Cisco Systems, Inc., General Electric Company, IBM Corporation, and Alstom SA, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.
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