They are mainly used for minimizing traffic jams on roads and managing traffic in cities prominent traffic
management solutions comprise traditional signaling and smart signaling systems, and route guidance systems,
intelligent video management systems, and video surveillance systems. Smart transportation industry may be
explored by service as Support and Maintenance, Consulting, and Deployment and Integration. The
“Deployment and Integration” segment dominated the market in 2016 and is anticipated to maintain its
dominance by 2024. Deployment and integration service helps in reducing the integration and deployment time.
This service is vitalfor emerging end-to-end traffic managing, passenger, parking management system solutions,
and ticketing, for the global market. The growing necessity for advancement of the current transport
organization to support several smart solutions would initiate the deployment and integration facilities in the
market.
North America accounted for the major share of the Smart Transportation Market Size in 2015 and will continue
to lead in the forecast period due to factors such asearly acceptance of severalnew technologies, increasing
government investments in transport infrastructure. On the other hand, Europe is anticipated to benefit from
its fast digitization across verticals. Growing technological advancements and increasing acceptance of smart
connected devices, followed by a robust government vision, and healthy network infrastructure toward smart
transportation are anticipated to propel development in the smart transportation industry.
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Some of the key players that fuel the development of the smart transportation market include AGT
International, SAP SE, Cisco Systems Inc., IBM Corporation, Logica, Hitachi Inc.,GSM Association, Schneider Inc.,
Oracle Corporation, Siemens Corporation, ERTICO-ITS, Orange Inc. The leading companies are taking up
partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
Market Segment:
Smart Transportation Solution Outlook (Revenue, USD Billion, 2015 - 2024)
• Ticketing management system
• Parking management system
• Integrated supervision system
• Traffic management system
Smart Transportation Service Outlook (Revenue, USD Billion, 2015 - 2024)
• Cloud services
• Business services
• Professional services