Global Smart Transportation Market Growth Rate, Type & Application, Key Players, Revenue, Major Regions, Challenges, Forecast Research 2029

[akash Arjun pingale]

Global Smart Transportation Market: size was valued at US$ 104.51 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 10.6% through 2022 to 2029, reaching nearly US$ 234 Bn.

Global Smart Transportation Market Overview: 

The purpose of this research is to provide a detailed analysis of the Global Smart Transportation Market by segment and geography. The report goes into great detail about the primary factors influencing the Global Smart Transportation market's growth. The research also includes a comprehensive assessment of the market's value chain.

Global Smart Transportation Market Dynamic: 

The smart transportation market is driven by the high demographic rates, rise in urban population, the increase in adoption of smart and connected technologies in the transportation infrastructure, and the increase in free trade agreements, government authorities are adopting Public Private Partnerships (PPP) working models, and government initiatives for smart cities. These are the major key factors that drives the growth of the global market during the forecast period 2022-2029.

With significant technology developments, semi-autonomous and autonomous vehicles are rapidly evolving. Autonomous vehicles operate with little or no human involvement. The development of driverless vehicles is becoming increasingly popular in the transportation industry. Several transportation companies are expected to offer semi-autonomous vehicles in the forecast period, despite the fact that widespread acceptance of autonomous vehicles will take time. Some organisations that provide mobility-on-demand services are already using semi-autonomous vehicles technologies in their automobiles.

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Market Scope:

To get the final quantitative and qualitative data, all possible components influencing the markets covered by this research study were studied, thoroughly researched, validated by primary research, and evaluated. Market size is predicted for top-level markets and sub-segments, and the influence of inflation, economic downturns, regulatory and policy changes, and other variables is taken into account when estimating market size. This data is collated and presented in this study, together with comprehensive contributions and analysis from companies.

To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights applied to each section based on usage rate and average sale price are used to determine percentage splits, market shares, and segment breakdowns. The percentage adoption or usage of the provided market Size in the relevant area or nation is used to determine the country-wise splits of the overall market and its sub-segments.

Global Smart Transportation Market Segmentation: 

Based on the Transportation Mode, the market is segmented into Roadways, Railways, Airways, and Maritime. Airways segment is expected to hold the largest market share of xx% by 2029. This is due to an increase in demand for aviation services. With the reduction in the cost of air travel and improvement in living standards, air transportation has become affordable to several people. Digitalization of services and new technologies are driving the airlines' industry to ensure reduce operating cost, smooth maintenance, and take advantage of the increasing air travel. These are the key benefits that drive the growth of the Airways transportation mode segment in the global market during the forecast period.

Based on the Application, the market is segmented into Shared mobility, Route information and route guidance, Transit hubs, Autonomous/driverless vehicles, Video management, and others. Autonomous/driverless vehicles segment is expected to grow rapidly at a CAGR of xx% during the forecast period. An increasing development of driverless vehicles is becoming popular in the transportation industries and many transportation companies are expected to provide driverless vehicles in the forecast period. These are the key factor that drives the growth of the Autonomous/driverless vehicles segment in the global market during the forecast period.

Global Smart Transportation Market Key Players: 

• Thales
• Huawei
• Siemens
• IBM
• Cisco Systems
• SAP
• Cubic
• ALSTOM
• Bombardier
• Toshiba
• Harris
• Saab
• Veson Nautical
• Advanced Navigation Positioning Corporation (ANPC)
• BASS Software
• BENTLEY SYSTEMS
• Indra Sistemas
• Trimble
• TomTom
• Amadeus
• Conduent
• Kapsch
• Hitachi
• The Descartes Systems
• Accenture
• Rockwell Collins
• DNV GL

Market leaders are identified through primary and secondary research, and market revenue is calculated by primary and secondary research. Primary research included in-depth interviews with important thought leaders and industry professionals such as experienced front-line personnel, CEOs, and marketing managers, while secondary research included an analysis of the top manufacturers' quarterly and financial performance. Secondary data is used to establish worldwide market percentage splits, market shares, growth rates, and breakdowns, which are then cross-checked against primary data.

The major players covered in the Global Smart Transportation market report are

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Regional Analysis:

Global, North America, Europe, Asia-Pacific, the Middle East, Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.

COVID-19 Impact Analysis on Global Smart Transportation Market:

The COVID-19 pandemic has impacted industries such as aerospace and military, agriculture, autos, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among others. COVID-19 has had an influence on the Global Smart Transportation market as a whole, as well as the growth rate in 2019-2020, as the impact of COVID-19 has spread. Our most recent questions, views, and market information are vital to the Global Smart Transportation industry's firms and associations.

Key Questions Answered in the Global Smart Transportation Market Report are: 

• Which segment grabbed the largest share in the Global Smart Transportation market?
• What was the competitive scenario of the Global Smart Transportation market in 2021?
• Which are the key factors responsible for the Global Smart Transportation market growth?
• Which region held the maximum share in the Global Smart Transportation market in 2021?

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About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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