New York, NY -- (SBWIRE) -- 04/29/2020 -- Smart transportation utilizes information technology and artificial intelligence to efficiently manage and coordinate transportation systems. Smart transportation systems have emerged to be a sustainable solution to serve traffic management issues. These solutions are applicable to both public and private transportation and are critical to economic growth. Smart Transportation Market is accounted for $59.07 billion in 2017 and is expected to reach $237.143 billion by 2026 growing at a CAGR of 16.7% during the forecast period.

Major Players are:

Some of the key players profiled in the Smart Transportation Market include IBM Corporation, Siemens AG, Cisco Systems, Inc, General Electric Company, Cubic Corporation, Alstom, Thales Group, SAP, Accenture, Rockwell Collins, Huawei, Cubic, Amadeus, Indra Sistemas and Advanced Navigation and Positioning .

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Growth in transportation infrastructure, rising mega cities and population and rising number of on-road vehicles are the major key factors driving the market growth. However, lack of standardized and uniform technology may hamper the market growth.

By Deployment Model, Cloud segment is likely to have a huge demand due to the growing need for storage of data generated through these systems. Cloud solutions have a major impact on traffic management and road safety by using the internet and the storage for traffic-related decision making. Based on geography, Europe is expected to grow significantly during the forecast period due to growing parking issues and growing investments to improve urban transport and traffic infrastructures in this region.

Transportation Modes Covered in this Smart Transportation Market are:

o Airways
o Railways
o Roadways
o Maritime

Services Covered in this Smart Transportation Market are:

o Support and Maintenance
o Training and Consulting
o Deployment and Integration

Products Covered in this Smart Transportation Market are:

o Advanced Transportation Management Systems (ATMS)
o Advanced Public Transportation Systems (APTS)
o Advanced Traveler Information Systems (ATIC)
o Advanced Transportation Pricing Systems (ATPS)
o Cooperative Vehicle Systems

Components Covered in this Smart Transportation Market are:

o Software
o Hardware

Platforms Covered in this Smart Transportation Market are:

o Infrastructure-as-a-Service (Iaas) Backend Platforms
o Consumer/Enterprise Software Extension Platforms
o Connectivity/M2M Platforms
o Hardware specific software Platforms

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Deployments Covered in this Smart Transportation Market are:

o On-Premise
o Cloud
o Hybrid

Technologies Covered in this Smart Transportation Market are:

o Sensing Technology
o Global Positioning System (GPS)
o Wireless Technology
o Internet of things (IoT)

Applications Covered in this Smart Transportation Market are:

o Public Transport
o Video Management
o Transit Hubs
o Shared Mobility
o Route Information and Route Guidance
o Autonomous/Driverless Vehicles
o Passenger Information System
o Road Safety & Security
o Other Applications

The scope of this report centers on key market analyses, market drivers & challenges, and competitive analysis & trends. Research report examines each market and its applications, regulatory scenario, technological innovations, Smart Transportation Market projections, market sizes, and shares. Moreover, the Smart Transportation Market market report examines the most recent trends, pipeline products and developments in the Smart Transportation Market. Complete profiles of leading organizations in the market are also mentioned in this report.

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