Market Share of Smart Transportation Industry
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.
Smart Transportation Market Leaders
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Cisco Systems Inc.
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SAP SE
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IBM Corporation
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AVEVA Group PLC
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Siemens Corporation
*Disclaimer: Major Players sorted in no particular order
