How big is the Smart Transportation Market?

The Smart Transportation Market size is expected to reach USD 33.38 billion in 2024 and grow at a CAGR of 6.79% to reach USD 46.36 billion by 2029. Read More

What is the current Smart Transportation Market size?

In 2024, the Smart Transportation Market size is expected to reach USD 33.38 billion. Read More

Who are the key players in Smart Transportation Market?

Cisco Systems Inc., SAP SE, IBM Corporation, AVEVA Group PLC and Siemens Corporation are the major companies operating in the Smart Transportation Market. Read More

Which is the fastest growing region in Smart Transportation Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Smart Transportation Market?

In 2024, the Europe accounts for the largest market share in Smart Transportation Market. Read More

What years does this Smart Transportation Market cover, and what was the market size in 2023?

In 2023, the Smart Transportation Market size was estimated at USD 31.11 billion. The report covers the Smart Transportation Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Smart Transportation Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Smart Transportation Market

Smart Transportation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global Smart Transportation Market Report is Segmented by Application (Traffic Management, Road Safety, and Security, Parking Management, Public Transport, Automotive Telematics, Freight), Product Type (Advanced Traveler Information Systems (ATIS), Advanced Transportation Management Systems (ATMS), Advanced Transportation Pricing Systems (ATPS), Advanced Public Transportation Systems (APTS), Cooperative Vehicle Systems), Geography (North America (United States, Canada), Europe (United Kingdom, Germany, France, Rest of Europe), Asia Pacific (China, Japan, Australia, Rest of Asia Pacific), Latin America (Mexico, Brazil, Rest of Latin America), and Middle East & Africa (United Arab Emirates, South Africa, Saudi Arabia, Rest of Middle East & Africa)). The Report Offers Market Forecasts and Size in Value (USD) for all the Above Segments.

Smart Transportation Industry Overview

As the market penetration of the smart transportation industry is relatively low, firms are poised to offer products and solutions that are tailor-made to specific segments and even customize products for individual customers, enhancing differentiation and price realization. The major participants in the smart transportation business, like Cisco, SAP SE, IBM, etc., are focusing on growing their operations in new areas. These companies have a track history of developing novel and inventive ideas to expand their product lines in the smart transportation sector. Overall, the industry's intensity of competitive rivalry is expected to be high during the forecast period.

August 2023 - Hitachi Rail’s world-first digital transport app enters full commercial service to connect Genoa’s entire public transport infrastructure, The service, in conjunction with the city's public and private transport systems, allows any person living or visiting Genoa to plan, book and pay for multimodal journeys at a reduced price. By integrating the city's public and private transport systems, the service provides users with the possibility to plan, book and pay for multimodal journeys. 663 buses, 2500 bus stops and the metro line uses 15 million passengers per annum.
October 2022 - Siemens and 16 partners started a project likely to last through the end of 2024 to enhance artificial intelligence in the autonomous operation of regional trains. A budget of EUR 23 million (USD 25 million) within the German government-funded "safe.trAIn" project is available for this project. Meeting the requirements in this highly governed and standardized environment can significantly improve the efficiency and sustainability of regional railway transportation.