The global smart transportation market size was USD 92.48 billion in 2020. The market is anticipated to grow from USD 98.74 billion in 2021 to USD 206.80 billion in 2028 at a CAGR of 11.1% in the 2021-2028 period. This information is provided by Fortune Business Insights™ in its report titled, “Smart Transportation Market, 2021-2028.” As per our report, the prompt adoption of this smart technique to monitor, assess, and handle transport systems and is probable to improve safety and proficiency. It utilizes innovative technologies to allow a more suitable commute around the city and is more cost-effective and better in terms of safety.

Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/smart-transportation-market-105736

List of Key Players Covered in this Market Report

IBM Corporation
Cisco Systems, Inc.
Kapsch TrafficCom
Cubic Corporation
Xerox Corporation
Siemens AG
Iteris, Inc.
LG CNS Co. Ltd.
Thales Group
Indra Sistemas
Trapeze Software
TransCore Inc.
Drivers and Restraints

Increasing Traffic Size to Augment Market Growth Globally

Traffic volume is rising along with the concerns that tag along owing to a dramatic upsurge in suburban and rural inhabitants moving to urban areas and the corresponding rise in population density in cities. Along with a speedy density growth, automobile overcrowding in cities has also risen, assisted by poor highway structures and inadequate urban organization.

Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/smart-transportation-market-105736

Regional Insights

Europe to Dominate Stoked by Surging Investments in Infrastructure Development

Europe held the largest smart transportation market share and stood at USD 36.99 billion in 2020. This is owing to the significant investment for infrastructure through finance plans such as the Connecting Europe Facility (CEF), which has enabled more than 763 schemes with up to USD 22 billion in the donation.

Asia Pacific is projected to display a higher CAGR in the market in the foreseeable future. This is attributable to the assisting monitoring measures that have streamlined the speedy progression of smart transportation construction and infrastructure in leading nations such as China and South Korea.

North America is also expected to witness substantial growth in the market. In the U.S., the collaboration between federal and state establishments has augmented over policy supervision and funding, therefore amplifying road testing and software development.

Industry Development

February 2021: The New York Metropolitan Transportation Authority (MTA) granted a bond opportunity worth USD 39 million to Cubic Corporations’ CTS unit to make advancements in the ticket paying system for Metro-North Railroad and Long Island Rail Road.

Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/smart-transportation-market-105736

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights ™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights ™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune ―― 411045, Maharashtra, India.

Phone: Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com