Smart Transportation Market Trend and Forecast to 2027

1. Market Research Future published a research report on “Smart Transportation Market Research Report - Global Forecast till 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027. Global Smart Transportation Market – Overview The smart transportation is an advanced transportation system provides innovative services associated with different modes of transport and traffic management for avoiding various problems including traffic accidents, congestion, and vehicle carbon emission. The smart transportation market involves vehicles, drivers, passengers, road operators, interacting with each other. The adoption of fleet management in smart transportation provides vehicles with a smarter solution that offers real-time visibility of driver performance , vehicle location, fuel consumption, travelling mileage speed, idle times, and increases efficiency & productivity of the vehicles. Due to the rapid urbanization, the amount of greenhouse gas increases in the environment which leads to the adoption of alternative fuels such as bio-fuels, ethanol, compressed natural gas (CNG), and increases the demand of solar and electric vehicles which is likely to impact the growth of the Smart Transportation Market. Smart transportation systems include a broad range of wireless and wireline communication-based information , connectivity technologies for the better management of traffic and improve the existing transportation infrastructure.. Furthermore, there are various benefits of smart transportation, including improvement in safety issues, higher productivity & efficiency, environmental friendliness, and better life quality. Also, the smart transportation involves the adoption of smart parking management solutions which uses the IoT technology along with mobile payment services. It also provides real-time parking information displayed on the electronic sign board that is useful for both parking staff members as well as the end-users. The adoption of multi-level parking provides various benefits including minimum utilization of land, greater convenience in entry and exit, with the help of multi sensors and safety devices offering low operating and maintenance expenses. The adoption of advanced technologies including cloud computing, big data, evolution of wireless network, machine to machine(M2M), Internet of things (IoT), and government initiatives to support smart technologies in existing transportation are some of the factors that are impacting the growth of smart transportation market. However, high capital investment and with lack reliable database for road network are some of the factors that hinder the growth of smart transportation market. Competitive Outlook

2. Thales Group, Siemens AG, Accenture Plc, LG CNS Co. Ltd., General Electric Company, AECOM, TomTom International B.V., Kapsch, Cisco Systems, Inc., IBM Corporation, Cubic Corporation, and Alstom SA are key players of the global smart transportation market. Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/2467 Segmentation The smart transportation market is segmented by solution and service. The solution segment consists of various solutions as Traffic management, smart ticketing, Parking management, integrated supervision, passenger information solution, and Insurance telematics solution. The smart ticketing integrates online ticketing, onboard ticketing, smart card ticketing, and mobile application ticketing. The smart ticketing solution aims to provide better services to their customers and also minimize fund leakage & fare avoidance situations. The traffic management solution is used in various road traffic environments to follow and capture numerous vehicles at the same time in a large scene and manage the traffic smartly and effectively. Regional Analysis The regional analysis of smart transportation market is being studied for regions of Asia Pacific (APAC), Americas, Europe, and Rest-of-the-World (RoW). Rapid digitization across different industries has driven the market of Smart Transportation in European region. European region is expected to dominate in the Smart Transportation market by the forecast period owing to digital transformation, technological advancements, and increasing adoption of smart connected devices. The study reveals that government initiatives towards smart transportation in the European region are driving the smart transportation market in this region. North America region followed by Europe is expected to grow significantly by the forecast period. Asia-Pacific countries like China, Japan, India and Korea are expected to show a steady growth in the Smart Transportation Market. Get Complete Report @ https://www.marketresearchfuture.com/reports/smart- transportation-market-2467 About Us: Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

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