Smart Transportation Market Research Report- Forecast to 2030

Smart Transportation Market Research Report Information By Type (Maritime, Roadways, Railways, Airways), By Solution (Ticketing Management System, Parking Management and Guidance System, Integrated Supervision System, Traffic Management System), By Services (Business, Professional, Cloud Services), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) โ€“ Market Forecast Till 2030.

ID: MRFR/SEM/1834-HCR | 100 Pages | Author: Aarti Dhapte | March 2024         

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Global Smart Transportation Market Overview:

The Smart Transportation Market Size was valued at USD 125.89 Billion in 2022. The Smart Transportation industry is projected to grow from USD 141.58 Billion in 2023 to USD 251.45 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.03% during the forecast period (2023 - 2030). An enhanced transportation infrastructure known as "smart transport" or "intelligent transport" promises to offer cutting-edge services for traffic and transport management systems. It may be used for a variety of things, including traffic control, passenger information, and parking management. Intelligent transportation systems (ITS) are cutting-edge software programs that offer revolutionary services for managing traffic and various kinds of transportation. Using a variety of technologies, including automobile navigation, traffic signal management systems, speed cameras, and other real-time data & computational tools, enables numerous users to be better coordinated and informed. Infrastructure upgrades, governmental policies promoting the use of sustainable fuels in public vehicles, and the execution of plans to effectively deliver mobility services to ever-growing cities are all ways to attain this smart transportation information.
Global Smart Transportation Market Overview
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Smart Transportation Market Trends

  • Facilitating the creation and marketing of green fuels

For a country to succeed and experience economic growth, social development, and reduced environmental losses, effective transportation networks are crucial. In Asia, where certain nations, like India and China, already have almost a billion people living in cities alone, more than half of the world's urban population is concentrated. The Chinese Department of Infrastructure Development projects that by 2035, the nation's comprehensive transportation network will be mostly built and convenient, economical, green, intelligent, and advanced. Furthermore, to meet the European Union (EU) aim of a 37.5 percent reduction in emissions by 2030, the French government is placing its faith in electric and hydrogen-powered cars and airplanes. According to International Trade Administration (ITA), France wants to cooperate with OEMs, energy providers and charging station infrastructure providers to create seven million charge points for hybrid and electric cars by 2030 as part of its support for the electric vehicle project. Thus, it is anticipated that the market for smart transportation would be driven by the spike in the adoption of an efficient transportation system and supportive developments for the promotion of fuel-efficient transportation throughout the projected period.

Smart Transportation Market Segment Insights:

Smart Transportation Type Insights

The market segmentation, based on Type, includes Maritime, Roadways, Railways, and Airways. The Airways segment holds the majority share in 2022, contributing to the global Smart Transportation revenue.

Smart Transportation Solution Insights

Based on the Solution, the market segmentation includes Ticketing Management System, Parking Management and Guidance System, Integrated Supervision System, and Traffic Management System. The Traffic Management System segment dominated the market. Due to qualities of their high degree of safety, ability to handle traffic congestion effectively, low energy usage, and low pollution levels, among others, traffic management systems are in demand. Additionally, the system claims to alleviate more common problems, such as transit delays, and to increase citizen security.

Smart Transportation Services Insights

Based on Services, the market segmentation includes Business, Professional, and Cloud Services. The Cloud Services segment is the largest segment of the market. Due to its ability to manage the enormous volumes of data produced by mobile technologies and sensors, the market is expected to maintain its leadership during the projected period. Big data and cloud technology are becoming more and more important in transportation systems as a result of technological advancements. The cloud platforms provide a secure storage space and computing capacity to assist with traffic estimates.

Figure 2: Smart Transportation Market, by Services, 2022 & 2030 (USD Million)
Smart Transportation Market, by Services, 2022 & 2030
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Smart Transportation Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America now controls the majority of the global market for smart transportation. Due to increased government expenditures on transportation infrastructure.  In addition, certain nations are developing faster than others, which will help the market for smart transportation grow in the area throughout the projected period.

Europe is predicted to have tremendous development in the smart transportation sector. Due to the early adoption of various new technologies.  Furthermore, it is projected that in the upcoming years, the region's market for smart transportation would expand due to the worsening traffic congestion in major cities.

Figure 3: Smart Transportation Market SHARE BY REGION 2022 (%)
Smart Transportation Market SHARE BY REGION 2022
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Smart Transportation Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Smart Transportation industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Smart Transportation industry to benefit customers and expand the market sector. Major market players, including Siemens, Thales Group, TomTom International, Cisco Systems Inc, Cubic Corporation, and others, are attempting to increase market demand by funding R&D initiatives.

Siemens is a multinational technology corporation that specializes in digitalization, automation, and electrification. It has particular expertise in the automation and digitalization of the manufacturing and process industries, intelligent building infrastructure, distributed energy systems, conventional and renewable energy generation and distribution, smart rail and road mobility solutions, medical technology, and digital healthcare services. Siemens consists of three operating companies: Digital Industries, Smart Infrastructure, and Gas and Power.

TomTom creates and markets navigational and location-based goods and services. The company operates in two segments: Location Technology and Consumer. It provides a driving assistance system, HD maps and map data, and travel information items including real-time traffic, danger warning, speed camera, road analytics, parking services, and routing in addition to navigation products. The business also offers RoadCheck, a tool for safe activations of AD functionalities, TomTom indigo, a digital cockpit platform, and virtual horizon products in addition to AutoStream, a system that enables map distribution of the TomTom automated driving (AD) maps. The firm provides services to the automotive, mobility, on-demand, road traffic control, fleet management, and location information industries.

Key Companies in the Smart Transportation market include



  • MSR Traffic

  • Siemens

  • Thales Group

  • TomTom International

  • Cisco Systems Inc

  • Cubic Corporation

  • IBM Corporation

  • Iteris

Smart Transportation Industry Developments

November 2022: Alstom announced an arrangement with Kazakhstan Railways (KTZ). Alstom and KTZ expanded their collaboration in the renewal of KTZ's locomotive fleet and maintenance support, including the next-generation locomotive KZ8A. KTZ now operates 90 freight and 39 passenger locomotives, with 160 freight and 80 passenger locomotives slated to be produced and delivered.

October 2022: Siemens and 16 partners have begun a project that will likely endure through the end of 2024 to improve artificial intelligence in the autonomous operation of regional trains. Within the German government-funded "safe.trAIn" initiative, a budget of EUR 23 million (USD 25 million) is available for this project. Meeting the standards in this highly regulated and standardized environment can increase the efficiency and sustainability of regional railway transit dramatically.

Smart Transportation Market Segmentation

Smart Transportation Type Outlook

  • Maritime

  • Roadways

  • Railways

  • Airways

Smart Transportation Solution Outlook

  • Ticketing Management System

  • Parking Management and Guidance System

  • Integrated Supervision System

  • Traffic Management System

Smart Transportation Services Outlook

  • Business

  • Professional

  • Cloud Services

Smart Transportation Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 125.89 Billion
Market Size 2023 USD 141.58 Billion
Market Size 2030 USD 251.45 Billion
Compound Annual Growth Rate (CAGR) 9.03% (2023-2030)
Base Year 2022
Market Forecast Period 2023-2030
Historical Data 2018 & 2022
Market Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Solution, Services, and Region
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled ACCENTURE, ALSTOM, MSR Traffic, Siemens, Thales Group, TomTom International, Cisco Systems Inc, Cubic Corporation, IBM Corporation, Iteris
Key Market Opportunities The autonomous and semi-autonomous vehicle market demand is substantially increasing every year.
Key Market Dynamics The market relies on the technology industry.

Frequently Asked Questions (FAQ) :

The Smart Transportation Market size was valued at USD 125.89 Billion in 2022.

The global market is projected to grow at a CAGR of 9.03% during the forecast period, 2023-2030.

North America had the largest share of the Smart Transportation Market.

The key players in the market are ACCENTURE, ALSTOM, MSR Traffic, Siemens, Thales Group, TomTom International, Cisco Systems Inc, Cubic Corporation, IBM Corporation, and Iteris.

The Traffic Management System category dominated the market in 2022.

The Cloud Services segment had the largest share in the global market for Smart Transportation.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major playersโ€™ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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