Smart Transportation Market was valued at USD 115.59 Billion in 2022, and is expected to reach USD 234.01 Billion by 2029, exhibiting a CAGR of 10.6% during the forecast period (2023-2029).

Smart Transportation Market Overview: 

The primary goal of this research is to assist the user in understanding the Smart Transportation Market in terms of definition, segmentation, market potential, significant trends, and the problems that the Smart Transportation industry faces in key regions and nations. The market statistics and information were obtained from credible sources such as websites, annual reports of businesses, journals, and others, and were examined and validated by industry professionals. 

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Smart Transportation Market Scope:

The market statistics and information were obtained from credible sources such as websites, annual reports of businesses, journals, and others, and were examined and validated by industry professionals. 

Smart Transportation Market Segmentation: 

According to Solution, the global market for smart transportation solutions will be dominated by traffic management system solutions in 2022 as a result of expanding urbanization, rising environmental concerns, and a demand for real-time information. Due to the government's growing attention on traffic management and several initiatives in North America aiming at traffic management solutions and services, the traffic management system is widely used in North America.

Real-time traffic management, remote monitoring technologies, data management, Software as a Service (SaaS)-based solutions, and the Internet of Things are key trends in the market for traffic management systems. Rapid urbanization, the rise of the idea of smart cities and smart traffic are the main market possibilities for traffic management systems.

According to Service, the cloud service segment will dominate the global market for smart transportation in 2022. This is because they can offer solutions for various computing needs, such as managing and accessing data remotely. Additionally, cloud services offer a number of advantages like adaptable cloud space capacity, automatic software updates, remote working from anywhere, and more.

Cloud services are the market leader in the smart transportation sector. The provision of business applications tailored to particular industries is the dominant trend in the market for cloud services. The industry is also growing as a result of cloud infrastructure as a service (IaaS), cloud management, and cloud application infrastructure as a service.

1. Global Smart Transportation Market Size, by Transportation Mode (2022-2029)
• Roadways
• Railways
• Airways
• Maritime
2. Global Smart Transportation Market Size, by Application (2022-2029)
• Shared mobility
• Route information and route guidance
• Transit hubs
• Autonomous/driverless vehicles
• Video management
• Others
3. Global Smart Transportation Market Size, by Solution (2022-2029)
• Ticketing Management System
• Parking Management & Guidance System
• Integrated Supervision System
• Traffic Management System
Global Smart Transportation Market Size, by Service (2022-2029)
• Business
• Professional
• Cloud Services

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Smart Transportation Market Key Players: The study discusses the key market players who are engaged in the industry, such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors, and so on. The key players in the Smart Transportation market are

1. Thales
2. Huawei
3. Siemens
4. IBM
5. Cisco Systems
6. SAP
7. Cubic
8. ALSTOM
9. Bombardier
10. Toshiba
11. Harris
12. Saab
13. Veson Nautical
14. Advanced Navigation Positioning Corporation (ANPC)
15. BASS Software
16. BENTLEY SYSTEMS
17. Indra Sistemas
18. Trimble
19. TomTom
20. Amadeus
21. Conduent
22. Kapsch
23. Hitachi
24. The Descartes Systems
25. Accenture
26. Rockwell Collins
27. DNV GL

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Regional Analysis:

The report focuses on Global Regions and Market Size of Smart Transportation, and development forecast 2021-2027, including industries, major players, suppliers worldwide, and market share by regions, with company and product introduction, position in the market including their market status and development trend by types and applications, which will provide its price and profit status, and marketing status, with 2020 as the base year.

COVID-19 Impact Analysis on Smart Transportation Market:

The report discusses the impact of COVID-19: Since the breakout of the COVID-19 virus in December 2019, the disease has spread to practically every country on the planet, prompting the WHO to declare it a public health crisis. The worldwide effects of the coronavirus epidemic are already being noticed, and they will have a considerable influence on the Smart Transportation industry in 2021.

Key Questions Answered in the Smart Transportation Market Report are: 

• What is the function of Smart Transportation?

• What is the predicted revenue generation of the Smart Transportation market?

• At what growth rate is the Smart Transportation market evolving?

• Who are the major market giants operating in the Smart Transportation market?