Report Highlights
The global market for smart transportation technologies should grow from $90.4 billion in 2020 to $183.0 billion by 2025, at a compound annual growth rate (CAGR) of 15.1% during the forecast period of 2020-2025.
Report Includes
- 85 tables
- An overview of the global market for smart transportation technologies
- Estimation of the market size and analyses of the global market trends, with data from 2019, estimates for 2020 with projection of compound annual growth rates (CAGRs) through 2025
- Market share analysis of smart transportation technologies based on transportation mode, component, application, technology deployment, and geographical region
- Identification of new opportunities, challenges, and technological hurdles within the smart transportation applications
- Impact analysis of COVID-19 on smart transportation market, and insights into transportation challenges during and post-COVID and some expected connectivity solutions across the automotive industry
- Detailed analysis of the current market trends, market forecast, and discussion of technological, and regulatory elements that are affecting the future marketplace for smart transportation
- Competitive landscape featuring major market participants, their company share analysis and key strategies adopted by them
- Company profiles of the leading automotive manufacturers and connectivity/security providers, including BMW Group, Daimler Group, General Motors (GM), BAE Systems Inc., Tesla Inc., NXP Semiconductors, Cisco Systems Inc., Verizon Communications Inc., and Honda Motor Co., Ltd.
Report Scope
This report analyzes the market for commercialized smart transportation solutions. It helps readers to understand how the smart transportation solutions market will evolve, as well as the trends that will impact its adoption. The report focuses on mobility solutions that have been developed or customized to meet the unique needs of intelligent transport systems. The scope of this report also includes services provided for integrating such solutions or managed connectivity services.
This BCC Research study was conducted with a global perspective in terms of the smart transportation technologies and its applications. Market projections have been conducted for five geographic regions: North America, South America, Europe, Middle East and Africa, and Asia-Pacific.
The scope of the report encompasses various components used in smart transportation namely solutions and services. The market also is divided based on modes of transportation. Additionally, the application industry for the market is segmented into shared mobility, public transport, remote information/guidance, autonomous/driverless vehicles, and others, which include transit hub, electronic toll collection, and variable speed limit. The present global market offers an opportunity to the stakeholders, largely because of a surge in cloud-based services and the increased use of the IoT devices across automotive sector.
This report highlights different solution types in the smart transportation market, which includes parking management, traffic management, security & surveillance, smart ticketing, passenger information management and others comprising fleet management, vehicle telematics, and automatic number plate recognition (ANPR). The services segment is majorly sub-divided into training and consulting, integration services, support and maintenance. The estimated and forecast market revenue considered in this report is the summation of prices for software, hardware, and subscription services.
This report also offers insights on drivers, restraints, and opportunities for the market, which was gathered through primary and secondary research. The strategy adopted by the companies in the global market is provided in the report to analyze ongoing trends in the market. The report provides market share analysis and key vendor profiles of top smart transportation solution providers. The region level study includes North America, Europe, Asia-Pacific, Middle East and Africa, and South America.
This report considers the impact of COVID-19 and the economic that caused slowdown it created in economy due to lockdown in various countries. When people are following social distancing and relying more on technology, it is observed that the security threats has been increased along with growing cyber-attacks. It is expected that the demand for connectivity solutions across the automotive industry will increase due to COVID-19 pandemic and boost the smart transportation market.
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
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