Global Transportation for Smart Cities Market size was valued at US$ XX Bn. in 2019 and the total revenue is expected to grow at 18.45% from 2019 to 2027, reaching nearly US$ XX Bn.
The report study has analyzed the revenue impact of the COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Global Transportation for Smart Cities Market: Market OverviewThe smart city is well-connected city that uses information and communication technology to increase operational efficiency, share information among public of city to improve the quality of government services and citizen welfare. This technology is widely adopted to improve mass transportation across the cities through the implementation of more advanced projects. The smart transportation system combines several information and technology that includes Internet of Things (IoT), GPS and fiber optics to advance the transportation infrastructure.
Global Transportation for Smart Cities Market: Market DynamicsThe major factors which drives the transportation for smart cities include rising need among transport authorities to create a system to manage traffic and improve safety of road and passengers. The development of advanced technology such as Internet of things (IoT), also rapid advancement in Information and communication including the cloud, development in data communication, sensors, and fibers is anticipated to drive the transportation for smart cities market throughout the forecast period. Growing urbanization and industrialization and rising the need of better-quality life are driving the market growth. In addition, by the support and initiative taken by the government of several nations across the globe in order to improve the transportation and infrastructure in smart cities is expected to fuel the growth of the market.
The project requires a high capital investment which is not done without the support of government and other transport organization hinder the growth of the market. This system deploys large number of software and sensors which tend to share a large amount of personal information, so the fear of leak of personal information hinder the growth of the market. Low rate of adoption of advanced technology in developing nations are the restrain for the global transportation for smart cities market during the forecast period.
Global Transportation for Smart Cities Market: Market SegmentationThe cloud segment of technology is expected to have a significant growth rate, owing to the risingadvancement of technologies, the usage of cloud technology in order to improve transportation services and facilities. The bus rapid transit system (BRTS) is dominating the transportation for smart cities market during the forecast period as this system avoid the traffic congestion. Based on service, the software segment holds the major share of the global transportation for smart cities market. Various software are used in this system such as traffic management, parking management, ticket management, and passenger information management. This software provide the safety to the passengers.
Global Transportation for Smart Cities Market: Regional AnalysisEurope is dominating the global transportation for smart cities market during the forecast period. A large number of end project being undertaken in this region. Government support and investment of a large amount of revenue for improving the infrastructure for the transportation is contributing to market growth in this region. Large amount of revenue is invested in IT and telecommunication sector in this region. High adoption rate of advanced technology such as IoT, implementation of AI technology in smart cities for improving the transportation service is also contributing to market growth.
Europe is followed by Asia Pacific due to rising working population, growing investment by government of several countries in the region in major projects to improve the transportation for smart cities facilities. Presence of a large number of premium car manufacturers in this region. Most of the consumers prefer semi-automatic transmission in their vehicle. The auto manufacturers are spending a large part of their revenue on research and development to provide more comfortable driving experience to their customers anticipated to drive the Transportation for Smart Cities market in this region. Europe held substantial share of this market due to high adoption rate of advanced technology.
The objective of the report is to present a comprehensive analysis of the Global Transportation for Smart Cities Marketincluding all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Transportation for Smart Cities Marketdynamics, structure by analysing the market segments and projects the Global Transportation for Smart Cities Marketsize. Clear representation of competitive analysis of key players by Service, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Transportation for Smart Cities Market make the report investor’s guide.
For More Information Visit :https://www.maximizemarketresearch.com/market-report/global-transportation-for-smart-cities-market/78581/Scope of the Global Transportation for Smart Cities Market
Global Transportation for Smart Cities Market, by Technology
• Cloud• Sensors• Data communications• MobilityGlobal Transportation for Smart Cities Market, by Transportation
• Metro• Bus rapid transit system (BRTS)• MonorailGlobal Transportation for Smart Cities Market, by Service
• Hardware• SoftwareGlobal Transportation for Smart Cities Market, by Region
• Asia Pacific China India Japan South Korea Australia Indonesia Malaysia Vietnam Rest of Asia• North America U.S. Canada• Europe Germany UK France Italy Spain Rest of Europe• South America Brazil Mexico Rest of South America• Middle East & Africa GCC South Africa Rest of MEAGlobal Transportation for Smart Cities Market, Key Players
• Siemens AG• Huawei Holding Co., Ltd.• Cisco Systems• Avail Technologies Inc• IBM Corporation• Microsoft Corporation• Thales Group• Oracle Corporation• TomTom International Inc• Schneider Electric• WS Atkins PLC• Ericsson• Agero Inc.,• Hitachi Ltd.• Toshiba Corporation• Accenture Plc