One of the key factors responsible for driving the market growth is increasing vehicle parc
worldwide. According to statistics by Organisation Internationale des Constructeurs
d'Automobiles, globally, 93,856,388 units of vehicles were sold in 2016, which is 4,171,780 units
over 2015 total global sales. Moreover, rising need for efficient traffic management, increasing
need for public safety and security, and environmental concerns over emission of greenhouse
gases, along with rise in number of smart cities. For instance, in 2015 Government of India
launched "100 Smart Cities Mission".
However, high initial investment for replacement of present infrastructure with advanced smart
transportation solutions and requirement of large database for road network are factors
expected to adversely affect the global smart transportation market growth.
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Smart Transportation Market Taxonomy
On the basis of mode of transportation, the global smart transportation market is segmented
into:
Railways
Roadways
Airways
Seaways
On the basis of services, the global smart transportation market is segmented into:
Consulting
Integration and Deployment
Maintenance & Support
On the basis of solution, the global smart transportation market is segmented into:
Integrated Supervision Solution
Traffic Management Solution
Parking Management Solution