The enhancements in the internet connectivity field improve the smart transportation is projected to fuel the growth of the global Smart Transportation at a CAGR of 13.82% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published on the “Global Smart Transportation Market”.

The Smart Transportation is estimated to register a CAGR of 13.82% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global smart transportation —Hitachi Ltd., Cisco Systems, Inc, Intel Corporation, Alstom Sa, Cubic Corporation, Kapsch, IBM Corporation, Thales Group, Siemens AG, Aeco, Accenture Plc, Toshiba, Harris Corporation, Veson Nautical, Bass Software, Bentley System and other.

Market Highlights

The global Smart Transportation Market is accounted for to register a CAGR of 13.82% during the forecast period and is estimated to reach USD 3,74,932.77 million by 2032.

The fusion of loT platforms with intelligent transportation systems is anticipated to expand the market. In terms of data sharing with transportation management control centers and the cloud, smart devices integrated for greater connection, automation, and control are predicted to develop more self-governing and intelligent capabilities. The market for smart transportation is anticipated to expand due to the rising need for linked technologies, apps, and smart devices.

Smart Transportation makes travel safer. Autonomous transportation systems (both in cars and in stationary infrastructures like junctions) have been shown to eliminate the "human factor" in accidents by merging machine learning with IoT and 5G. Computers stay energized, energized, and focused.

Smart Transportation is more effectively run Data collecting is a crucial component of appropriate public management of infrastructure. In addition to providing total data points for every transportation system component, smart transportation also enables managers to monitor operations closely, keep tabs on maintenance requirements, and pinpoint the major causes of issues that must be rectified.

Smart Transportation is More Efficient: Efficient utilization results from improved management. Finding opportunities to increase efficiency can be aided by high-quality data. Bus routes better serve the town if stations were distributed differently, or even a modest change in train schedules might result in higher fill rates.

Segment Analysis

The scope of the global Smart Transportation has been segmented based on Transportation Mode, Application, and region.

Based on transportation mode, the global Smart Transportation is segmented into roadways, railway, airway and marine. The airway segment is expected to exhibit the fastest CAGR during the projected period. Airports must constantly investigate and adapt to new opportunities as they strive to become highly efficient. Furthermore, emerging technology and innovations play a significant part in curating specific solutions, and they will be used even more in the future. With all of these digital disruptions, airports' long-term ambition will be to provide efficiency, comfort, and elegance within the terminals.

Based on Application, the global Smart Transportation is segmented into mobility -as-a-service, route information and route guidance, public transport, transit hubs, connected cars, video management and others. The connected cars segment is expected to register the highest CAGR during the forecast period. Connected cars equipped with sensors and communication technologies can provide real-time data on traffic conditions, including congestion, accidents, and road closures. This information can be used by traffic management systems to optimize traffic flow and reduce congestion.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Smart Transportation Market Research Report

Regional Analysis

The global Smart transportation, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Smart Transportation comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Smart Transportation in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Smart Transportation comprises of Middle East, Africa, and Latin America.

The imperative factors, such rise of automated vehicles and innovation in mobility services is boosting the growth of the North America region.

Moreover, the Europe market has been persistently growing owing to factors such as rapid pace of urbanization and development of smart mobility services, such as ride-sharing and on-demand transportation.

Additionally, market factors, such as growing demand for efficient and sustainable transportation systems and increasing adoption of connected and autonomous vehicles are driving the Asia-Pacific region’s growth.

Furthermore, the rest of the world's Smart Transportation is divided into the Middle East, Africa, and Latin America. The market factors such as increasing government investment in smart city initiatives are positively contributing.

Key Findings of the Study

• The global Smart Transportation is expected to reach USD 3,74,932.77 million by 2032, at a CAGR of 13.82% during the forecast period.


• The North America region accounted for the largest global market, rise of automated vehicles and innovation in mobility services.


• Based on transportation mode, the roadways segment was attributed to holding the largest market in 2022, with an approximate market share of 36.7%.


• Hitachi Ltd., Cisco Systems, Inc, Intel Corporation, Alstom Sa, Cubic Corporation, Kapsch, IBM Corporation, Thales Group, Siemens AG, Aeco, Accenture Plc, Toshiba, Harris Corporation, Veson Nautical, Bass Software, Bentley System, are the key market players.