New report on Smart Transportation market is segmented into services such as business services, professional services and cloud services. The professional services are currently having the highest revenue share as the market requires several professional services to upgrade the existing infrastructure. However, it is expected that cloud services would have the highest growth potential as the system would generate substantial amount of data which would be stored in cloud systems. Government initiatives such as the EU Directive on Intelligent Transport Systems passed on 7 July 2010, to efficiently manage road traffic was introduced, as it would save time and fuel. Additionally, it can provide better safety and security by integrating intelligent communication system in the infrastructure, which is another driving factor of the market. Moreover, the ITS also aims at encouraging the development and promotion of alternative green fuels as crude oil is available in limited resources and is depleting fast. However, the key restraint for the market is the need of high capital investment as the existing transport system requires a complete revamp. Furthermore, certain downtime is required to update the infrastructure to implement smart transport system, which is a huge obstacle, as it would mean a complete halt in routine travel of passengers. The key opportunity for the market lies in the investments in smart cities as smart transportation would be an integral part of smart cities.
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Smart transport, also known as Intelligent Transport System (ITS), is an advanced transportation infrastructure, which has the aim to provide innovative services for traffic and transport management system. The goal of this report is to analyze the current and expected trends of the smart transportation market as the system has garnered substantial support from government agencies. The study covers an in-depth analysis of the market based on various solutions, services and smart/green fuels segments of the market. The report analyzes opportunities in the developed and emerging economies so that companies can strategically plan their moves in specific regions.
The market is segmented into smart/green fuels such as bio-gas, ethanol, hydrogen, wood-gas, solar-cell and others. Currently, ethanol is projected to have the highest revenue share since it is extensively used as a biofuel stabilizer in gasoline to reduce pollution. However, extensive research efforts in developing solar-cell technology as an alternative fuel are being carried out due to abundant availability of solar energy. Therefore, solar-cell is expected to have the highest market potential in the green fuels segment. Smart Transportation Market Analysis by Geography
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MARKET BY SOLUTIONS
- Ticketing Management System
- Parking Management & Guidance System
- Passenger Information System
- Integrated Supervision System
- Traffic Management System
MARKET BY SERVICES
- Business Services
- Professional Services
- Cloud Services
MARKET BY SMART/ GREEN FUEL
- Bio-gas
- Ethanol
- Hydrogen
- Wood-gas
- Solar-cell
- Other
MARKET BY GEOGRAPHY
- North America
- Europe
- Asia-Pacific
- LAMEA
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