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Smart Transportation Market Size
- Report ID: GMI2512
- Published Date: Apr 2018
- Report Format: PDF
Smart Transportation Market Size
Smart Transportation Market size estimated at over USD 41 billion in 2017 and is expected to witness 20% CAGR from 2018 to 2024.
The smart transportation market growth is driven by the growing need among transport authorities to create smart systems to manage traffic and improve road & passenger safety. The smart transportation systems combine several information and communication technologies such as Global Positioning Systems (GPS), Internet of Things (IoT), and fiber optics to improve the transportation infrastructure. Vehicles can connect with extended surroundings through real-time traffic navigation, avoiding traffic congestions and collisions. For instance, intelligent traffic control systems gather live traffic data to help the traffic regulatory authorities in diverting traffic away from busy areas, preventing traffic jams, and reducing the risks of collision. Rapid investments by government agencies in smart cities projects with an aim to provide proper infrastructure and intelligent transport systems to all citizens will spur market growth. For instance, in February 2016, the UK government invested USD 25.8 million in smart transportation for strengthening the UK’s position as a global leader for smart mobility.
| Report Attribute | Details |
|---|---|
| Base Year: | 2017 |
| Smart Transportation Market Size in 2017: | 41 Billion (USD) |
| Forecast Period: | 2018 to 2024 |
| Forecast Period 2018 to 2024 CAGR: | 20% |
| 2024 Value Projection: | 130 Billion (USD) |
| Historical Data for: | 2013 to 2017 |
| No. of Pages: | 370 |
| Tables, Charts & Figures: | 238 |
| Segments covered: | Mode of Transportation, Component, Deployment Model and Region |
| Growth Drivers: |
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Frequently Asked Questions (FAQ) :
Smart Transportation Market Scope
