The smart transportation is one of the most crucial and equipped with ITS (Intelligent Transportation System) based applications. It is connected wirelessly with Internet of Things (IoT) vertical technology. The main purpose is to collect data and controlling the real-time conditions, to improve performance and others. The smart sensor offers a wide range of applications in road transport including infrastructure, traffic management, mobility management, car navigation, container management systems, automatic number plate recognition and security CCTV systems applications.
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North America smart transportation market is expected to reach a CAGR of 20.1% in the forecast period of 2019 to 2026. The new market report contains data for historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
Major growing sectors under the market segmentation are as follows:
In solution, traffic management solution segment is highly used due to increasing demand for monitor various roadways as well as controlling traffic congestion. Because of this traffic management solution are growing at the highest CAGR.
In service, cloud services segment are growing at the highest CAGR due to increasing demand for managing traffic control with the help of cloud based intelligent transportation systems.
In transportation, airways segment is growing with highest CAGR rate due to growing developments and high usage of smart technologies in areas such as North America, Europe and other regions.
Kapsch Traffic Com
WS ATKINS PLC
Cisco System, Inc.
The Smart transportation market is segmented into four notable segments which are solution, services and transportation and geography.
On the basis of solution the market is segmented into passenger information solution, traffic management solution, parking management solution, smart ticketing solution, insurance telematics solution and integrated supervision solution. The passenger information solution is sub-segmented into network connectivity and multimedia information & entertainment. The traffic management solution is sub-segmented into route guidance, toll collection & revenue management, smart signalling and predictive traffic analytics. The parking management solution is sub-segmented into ticketing and revenue management, access control, automated parking guidance and slot management.
On the basis of service the market is segmented into professional services and cloud services.
On the basis of transportation the market is segmented into roadways, railways, waterways and airways.
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