Latest Report on Smart Transportation Market by Goldstein Research

New York, USA, 2018-Nov-17 — /EPR Network/ —Globally the penetration of advanced technologies such as cloud computing and IoT tends to drive the growth of global smart transportation market. According to Goldstein Research, global smart transportation market size is expected to reach USD 251.40 billion by 2024, growing at a CAGR of 16.75% during the forecast period (2016-2024). Further, Global smart transportation market segmentation has been done on the basis of components, application and geography. Geographically, global smart transportation industry is dominated by North America region, with 43.0% market share in 2016.

The US and Canada government investments in transportation infrastructure developments is driving the growth of market in North America. Whereas, in Europe & Asia Pacific the large automotive industry coupled with advancing transportation facilities and infrastructure in the region, tends to grow their market share in near future. As the geographical analysis North America is the major region of transportation industry. North America Smart Transportation market to expand at a CAGR of 10.2% during the forecast period 2016-2024. Further, the market is anticipated to reach USD 95.2 billion by the end of forecast period.

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Market Segmentation

Global Smart Transportation Market can be segmented as follows:

Based on Components

  • Hardware
  1. Sensors
  2. RFID Tags
  3. GPS Trackers
  4. Portable Computers
  5. Others (Industrial monitor devices, box computers)
  • Software
  1. Data Management Software
  2. Network Management Software
  3. Security Software
  4. Remote Monitoring Software
  5. Real Time Streaming Analysis Software
  • Platforms
  1. Connectivity/M2M Platforms
  2. Infrastructure-as-a-Service (Iaas) Backend Platforms
  3. Hardware specific software Platforms
  4. Consumer/Enterprise Software Extension Platforms

Based on Application

  • Vehicle Management
  • Mobility Management
  • Traffic Management
  • Parking Management
  • Safety Assistance

By Region

  • North America Smart Transportation Market Analysis, 2016-2024
  • Europe Smart Transportation Market Analysis, 2016-2024
  • Middle East and Africa Smart Transportation Market Analysis, 2016-2024
  • Latin America Smart Transportation Market Analysis, 2016-2024
  • Asia Pacific Smart Transportation Market Analysis, 2016-2024
  • Rest of the World Smart Transportation Market Analysis, 2016-2024

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“Global Smart Transportation Market Outlook 2024” contains detailed overview of the global smart transportation market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by components and application.

Key players of Global Smart Transportation Market discussed in the report are Cisco Systems, Inc., General Electric Company, Siemens AG, IBM Corporation, Alstom, Cubic Corporation

Further, Global Smart Transportation Market Report encompasses the competitive outlook of major player’s business strategy, financial analysis of the company, geographical revenue distribution and recent developments. The report also includes market size, market share, growth rate, market dynamics, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model, SWOT analysis and the outlook of investment opportunities in the existing and emerging market to help the clients to assess the present trends & future growth prospects in the market.

Global smart transportation market is further bifurcated in various segments with separate market analysis mentioned below:

Middle East and Africa Connected Cars Market

Connected car is an emerging technology which is digitally connected to the network and can interact with the surroundings, including connectivity with different devices, with other cars and also with infrastructure.  Connected cars enhance the driving experience by providing advanced safety features, infotainment experience and autonomous driving. Middle-East and Africa connected cars market accounted for USD 0.935 billion in 2016 and expected to reach USD 8.6 billion by the end of forecast year i.e. 2024.

Middle East Self Driving Vehicles Market 

Self driving cars can also be classified as autonomous or self-driving cars which operate automatically without any human input. Emerging advanced technologies and rising demands for vehicles across the globe led the majority of vehicle manufacturers to participate in the self driving personal vehicles market. Middle East self driving vehicles market is expected to grow at a CAGR of more than 55% over the forecast period.

Autonomous Vehicles Market Analysis

Digitization and new business models have revolutionized every industry and automotive sector will be no exception. Global autonomous vehicles market to expand at a CAGR of +39% during the forecast period 2025-2035

Autonomous Trains Market

Autonomous trains market size is set to reach USD 200 billion by 2024, at a CAGR of 5.5% over the forecast years. On the basis of application, interurban autonomous trains held the highest market share of 56.8% in 2016 due to increase in the working population and fastest connectivity. Countries such as India, Singapore, and US etc. use the urban trains and serve 426 billion passenger kilometers.

Autonomous Trucks Market

Autonomous truck technology has the potential to intensely impact nearly all aspects of the trucking industry. Autonomous truck (AT) technology is evolving rapidly, and as these technological advancements enter the marketplace, the tasks of truck drivers could dramatically shift. Autonomous trucks market to expand at a CAGR of +39% during the forecast period 2016-2024.

Israel Smart Mobility Market

Growing number of startups in Israel which are excelling and flourishing their business into cyber security, artificial intelligence, machine learning is supporting the wide adoption of smart mobility in Israel. Israeli smart mobility market valued USD 1.63 billion in 2016 and is projected to reach USD 7.6 billion, growing at a compound annual growth rate of 21.2% during the forecast period.

Smart Parking Market

Smart parking relies on a variety of components such as sensors, cameras, smart meters and uses data analytics and advanced algorithms. Smart parking market was reached USD 2.0 Billion in 2016. The ever increasing traffic and the need to develop efficient parking solutions is expected to drive the market to grow at a CAGR of 18% over the forecast period i.e. 2016-2024 and reach a valuation of approximately USD 7.5 Billion by 2024.

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