Market Revenue Smart Transportation Market Availability

Smart Transportation Market Availability of Substitute Products, Applications By 2024 “Smart Transportation Market is anticipated to reach USD 285.12 billion by 2024. The market is anticipated to grow at a healthy rate in the years to come. Smart transportation system implies sustainable and efficient intermodal transport system and infrastructure that can transport high level of performance and intelligence.” Global Smart Transportation Market is anticipated to reach USD 285.12 billion by 2024. The market is anticipated to grow at a healthy rate in the years to come. Smart transportation system implies sustainable and efficient intermodal transport system and infrastructure that can transport high level of performance and intelligence. Smart transportation system comprises use of advanced technologies such as telecommunication, computers, electronics information, and progressive sensors to offer information to customers to develop efficiency and safety of the transportation system. Smart transportation system is progressively being accepted to reduce environmental impact of greenhouse gasses emitted by vehicles, improve traffic management, and reduce congestion. On the other hand, there are factors that may hamper the growth of the market such as smart transportation requires a big database of road networks that could not be accessible in the emerging countries, and huge capital investment. Smart transportation industry is anticipated to grow at a significant CAGR of 22.5% in the upcoming period as the scope, product types, and its applications are increasing across the globe. Smart transportation market may be explored by solution, service, and geography. The market may be explored by solution as Traffic management system, Parking management system, Integrated supervision system, and Ticketing management system. The “Traffic Management” segment dominated the smart transportation industry in 2016 and is anticipated to maintain its dominance by 2024. Request Sample Copy of this Market Research @ https://www.millioninsights.com/industry-reports/smart-transportation-market/request-sample