Smart Transportation Market

Industry Overview

The global Smart Transportation Market, which was worth USD 135.7 billion in 2023, is expected to grow and generate revenue of USD 350.4 billion by 2030, with a CAGR of 20.3% from 2025 to 2030.

This growth of the smart transportation market is estimated to be derived by the rise in demand for effective transportation including passenger information, parking system, traffic management and the use of technical innovations such as smart speed cameras, digital traffic signal control systems, and other real-time data & computational technologies. The incorporation of cutting-edge technology in traffic system enables travellers to be better coordinated and informed. Investment by leading market players in smart transport infrastructure, enactment of legislation promoting sustainable fuels for public transportation vehicles, and advancement of sustainable fuel policy are the growth drivers for the global smart transportation to grow. Additionally, the development of cloud-based technologies and improvements in vehicle-to-vehicle (V2V) and vehicle-to-grid infrastructure (V2I) infrastructure make the smart transportation system more adoptable.

COVID-19 Impact

Due to Covid-19 the transportation sector had experienced a significant decline because majority of governments implemented isolation practices. Border closures that impeded the movement of transportation and logistical services were brought on by governments in various regions announcing absolute lockdown and the temporary shutdown of industries. It impacted adversely on the worldwide transport system but, post COVID-19 the market participants have started implementing creative strategies to expand growth prospects in the global smart transportation. Due to recent technical advancements in car safety, new norms and policies have a favorable impact on the global smart transportation.

Market Segment

Insight by Software

On the basis of software global smart transportation industry is categorized into visualization, video detection management system, transit management system and others. The smart transportation market insight by software is anticipated to expand at the highest CAGR over the projection period. The third-party system connected by network solutions receives real-time information from software solutions regarding the vehicle's current location, unforeseen route changes caused by traffic congestion, or an accident. As a result, governments around the world are putting various programs into place to assist the development of advanced software and this will estimated to drive growth to the global smart transportation.

Insight by Hardware

Based on the hardware the smart transportation market is the composition of interface boards, sensors, surveillance camera, telecommunication network, monitoring and detection systems and others. These devices are extensively used in rail, road, river, and air transportation. For the forecast period of 2022-30, it is estimated that the raised demand of sensors and communications technologies will drive the global smart transportation industry growth. On the other hand, a fundamental driver behind the digitization of many aspects of the transportation infrastructure ecosystem is emerging as the growing preference for adopting smart transportation system.

Insight by Type

On the basis of type, the market of smart transportation is divided into advanced public transportation system (APTS), Advanced transportation pricing system (ATPS), Advanced traffic management system (ATMS), advanced traveler information system (ATIS). It is projected that the during the forecast period of 2025-30 ATMS market will dominate the global smart transportation. The regional department of transportation & development is investing in smart infrastructure because of decreasing traffic congestion, which is projected to enhance the growth of this section in the market. The government is expanding its investment in this market segment. APTS sector is also anticipated to have strong growth in market over the course of the projected period. The reason behind this estimated growth is the increasing sophistication of bus route design and structure. Additionally, due to the growing use of smartphones to access information about the weather and all modes of transportation, the ATIS category is also predicted to have a strong CAGR in this market over the course of the projected year. Furthermore, ATPS segment is also anticipated to exhibit consistent market expansion. This market sector is expanding as more and more e-toll collection facilities are being developed in various nations.

Global Smart Transportation Market Report Coverage

Industry Dynamics

The smart transportation market is widespread all across the globe and the growth rate of the market’s verticals along with governmental policies impact the market size of the smart transportation system.

Growth Drivers

The smart transportation market is predicted to grow as a result of factors like global demand for efficient transportation networks, government attempts to develop and promote green fuels, and growing demand as a result of rising road safety and traffic congestion challenges. A few other key aspects that are projected to fuel the market's expansion include the increased use of cloud services in transportation and the deployment of smart transportation systems in railways. The market expansion, however, is constrained by significant capital expenditures, extensive database needs for the road network, and a lack of uniform and standardized technologies. Additionally, the development of parking management systems and investments in new smart city concepts offer market participants substantial growth prospects.

Challenges

Integration of information technology in a smart transportation system is the biggest challenge because the infrastructure of smart transpiration system is the meld of various heterogeneous devices including hardware and software and to make the transportation system well-functioned synchronization between all devices are essential. 

Opportunities

The deployment of smart transportation system involves the cooperation from a number of stakeholders, including telecom operators, infrastructure providers, manufacturers, service providers, public sector organizations, and user groups. Public-private partnerships will therefore be essential to the development of ITS. Many nonprofits organizations including ITS Canada, ITS America, ITS Thailand, ITS India, and ITS Germany, enter into strategic cooperation agreements with various organizations that focus on transportation and roads projects.

Geographical Overviews

With a market share of more than 40%, North America dominates the global smart transportation. For the active development and use of cutting-edge technologies like machine learning, big data, cloud computing, and IoT, the area is regarded as a technology hotspot. Large international market companies are also based in this region. In response to rising traffic and the ensuing congestion, numerous public-private collaboration attempts to implement intelligent transportation systems are taking shape in numerous cities across North America.

Furthermore, the Asia-Pacific region is anticipated to fuel the global market size of smart transportation through technological advancements and the ongoing expansion of transportation networks. ASPAC nations China, India, and Japan contribute exponentially to make the Asia pacific smart transportation market stronger which impacts on the global growth plan.

Recent development in global smart transportation

• A deal between Siemens and the National Authority for Tunnels (NAT) was signed in September 2021 to provide a complete rail system, including Egypt's first-ever high-speed, electrified main and freight rail line. To design, install, commission, and maintain the systems for 15 years, Siemens Mobility will offer its full range of turnkey services. The approximate total contract value is USD 4.5 billion, of which Siemens Mobility's portion is USD 3 billion.
• Siemens Intelligent Traffic Systems (ITS), a division of Siemens Mobility, introduced its new brand Yunex Traffic in July 2021. It will strategically take use of its dominant market position to provide cutting-edge, clever, and all-encompassing mobility solutions.
• A new toll collecting system will be installed at the Louisiana Highway (LA-1) for the Louisiana Department of Transportation and Development, Kapsch TrafficCom stated in June 2021, after receiving a project from Plenary Infrastructure Group (Australia) (LADOTD). The project is an addition to Kapsch's current agreement with Plenary under which Kapsch is supplying an end-to-end fully electronic tolling system and associated maintenance services for a significant bridge and tunnel replacement in Belle Chasse, Louisiana.

Leading global smart transportation players covered in this report

The leading market players of the global smart transportation are making significant investments in R&D projects, streamlining internal operations, developing new goods, and enhancing their current products. To create technologically innovative products and acquire a competitive edge in the market, they are concentrating on strategic alliances and mergers and acquisitions. Some of the key players of global smart transportation are Addco, Agero, Inc., DENSO corporation, Hitachi, Ltd, Gramin Ltd., Xerox Corporation, Recardo, Sensys Networks, Inc., Telenav, Inc., Iteris, Inc., Kapsch TrafficCom, Lanner, Nuance Communications, Inc., Q-Free ASA, Siemens AG, TomTom International BV, TransCore.

The Smart Transportation Market research includes a comprehensive market segmentation analysis as well as projections for the analysis period 2025-2030.

Segments Covered in the Report

• By Software 
  • Visualization
  • Video Detection Management System
  • Transit Management System
  • Others
• By Hardware
  • Boards
  • Sensors
  • Surveillance Camera
  • Telecommunication Network
  • Monitoring and Detection Systems
  • Others
• By Type 
  • Advanced public Transportation System (APTS)
  • Advanced Transportation Pricing System (ATPS)
  • Advanced traffic management system (ATMS)
  • Advanced traveler Information System (ATIS)

Region Covered in the Report

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World (RoW)
  • Brazil
  • Saudi Arabia
  • South Africa
  • U.A.E.
  • Other Countries

Source: VynZ Research

Source: VynZ Research

1.    Research Overview

        1.1.    The Report Offers
        1.2.    Market Coverage
                1.2.1.    By Software
                1.2.2.    By Hardware  
                1.2.3.    By Type              
                1.2.4.    By Region
        1.3.    Research Phases
        1.4.    Limitations
        1.5.    Market Methodology
                1.5.1.    Data Sources
                        1.5.1.1. Primary Research
                        1.5.1.2. Secondary Research
                1.5.2.    Methodology
                        1.5.2.1. Data Exploration
                        1.5.2.2. Forecast Parameters
                        1.5.2.3. Data Validation
                        1.5.2.4. Assumptions
                1.5.3.    Study Period & Data Reporting Unit

2.    Executive Summary

3.    Industry Overview

        3.1.    Industry Dynamics
                3.1.1.    Market Growth Drivers
                3.1.2.    Market Restraints
                3.1.3.    Key Market Trends
                3.1.4.    Major Opportunities
        3.2.    Industry Ecosystem
                3.2.1.    Porter’s Five Forces Analysis
                3.2.2.    Recent Development Analysis
                3.2.3.    Value Chain Analysis
        3.3.    Competitive Insight
                3.3.1.    Competitive Position of Industry Players
                3.3.2.    Market Attractive Analysis
                3.3.3.    Market Share Analysis

4.    Global Market Estimate and Forecast

        4.1.    Global Market Overview
        4.2.    Global Market Estimate and Forecast to 2030

5.    Market Segmentation Estimate and Forecast

        5.1.    By Software
                5.1.1.    Visualization
                        5.1.1.1. Market Definition
                        5.1.1.2. Market Estimation and Forecast to 2030  
                5.1.2.    Video Detection Management System
                        5.1.2.1. Market Definition
                        5.1.2.2. Market Estimation and Forecast to 2030
                5.1.3.    Transit Management System
                        5.1.3.1. Market Definition
                        5.1.3.2. Market Estimation and Forecast to 2030  
                5.1.4.    Others
                        5.1.4.1. Market Definition
                        5.1.4.2. Market Estimation and Forecast to 2030       
        5.2.    By Hardware
                5.2.1.    Boards
                        5.2.1.1. Market Definition
                        5.2.1.2. Market Estimation and Forecast to 2030
                5.2.2.    Sensors
                        5.2.2.1. Market Definition
                        5.2.2.2. Market Estimation and Forecast to 2030
                5.2.3.    Surveillance Camera
                        5.2.3.1. Market Definition
                        5.2.3.2. Market Estimation and Forecast to 2030
                5.2.4.    Telecommunication Network
                        5.2.4.1. Market Definition
                        5.2.4.2. Market Estimation and Forecast to 2030
                5.2.5.    Monitoring and Detection Systems
                        5.2.5.1. Market Definition
                        5.2.5.2. Market Estimation and Forecast to 2030
                5.2.6.    Others
                        5.2.6.1. Market Definition
                        5.2.6.2. Market Estimation and Forecast to 2030
        5.3.    By Type
                5.3.1.    Aadvanced Public Transportation System (APTS)
                        5.3.1.1. Market Definition
                        5.3.1.2. Market Estimation and Forecast to 2030
                5.3.2.    Advanced Transportation Pricing System (ATPS)
                        5.3.2.1. Market Definition
                        5.3.2.2. Market Estimation and Forecast to 2030
                5.3.3.    Advanced traffic management system (ATMS)
                        5.3.3.1. Market Definition
                        5.3.3.2. Market Estimation and Forecast to 2030
                5.3.4.    Aadvanced Traveler Information System (ATIS)
                        5.3.4.1. Market Definition
                        5.3.4.2. Market Estimation and Forecast to 2030     

6.    North America Market Estimate and Forecast

        6.1.    By Software
        6.2.    By Hardware
        6.3.    By Type                
        6.4.    By Country
                6.4.1.    U.S. Market Estimate and Forecast
                6.4.2.    Canada Market Estimate and Forecast
                6.4.3.    Mexico Market Estimate and Forecast

7.    Europe Market Estimate and Forecast

        7.1.    By Software
        7.2.    By Hardware               
        7.3.    By Type
        7.4.    By Country
                7.4.1.    Germany Market Estimate and Forecast
                7.4.2.    France Market Estimate and Forecast
                7.4.3.    U.K. Market Estimate and Forecast
                7.4.4.    Italy Market Estimate and Forecast
                7.4.5.    Spain Market Estimate and Forecast
                7.4.6.    Rest of Europe Market Estimate and Forecast

8.    Asia-Pacific Market Estimate and Forecast

        8.1.    By Software
        8.2.    By Hardware
        8.3.    By Type                
        8.4.    By Country
                8.4.1.    China Market Estimate and Forecast
                8.4.2.    Japan Market Estimate and Forecast
                8.4.3.    India Market Estimate and Forecast
                8.4.4.    South Korea Market Estimate and Forecast
                8.4.5.    Singapore Market Estimate and Forecast
                8.4.6.    Rest of Asia-Pacific Market Estimate and Forecast

9.    Rest of the World (RoW) Market Estimate and Forecast

        9.1.    By Software
        9.2.    By Hardware
        9.3.    By Type                 
        9.4.    By Country
                9.4.1.    Brazil Market Estimate and Forecast
                9.4.2.    Saudi Arabia Market Estimate and Forecast
                9.4.3.    South Africa Market Estimate and Forecast
                9.4.4.    Other Countries Market Estimate and Forecast

10.    Company Profiles

        10.1.    Addco
                10.1.1.    Snapshot
                10.1.2.    Overview
                10.1.3.    Offerings
                10.1.4.    Financial Insight
                10.1.5.    Recent Developments
        10.2.    Agero Inc.
                10.2.1.    Snapshot
                10.2.2.    Overview
                10.2.3.    Offerings
                10.2.4.    Financial Insight
                10.2.5.    Recent Developments
        10.3.    DENSO corporation
                10.3.1.    Snapshot
                10.3.2.    Overview
                10.3.3.    Offerings
                10.3.4.    Financial Insight
                10.3.5.    Recent Developments
        10.4.    Hitachi Ltd.
                10.4.1.    Snapshot
                10.4.2.    Overview
                10.4.3.    Offerings
                10.4.4.    Financial Insight
                10.4.5.    Recent Developments
        10.5.    Gramin Ltd.
                10.5.1.    Snapshot
                10.5.2.    Overview
                10.5.3.    Offerings
                10.5.4.    Financial Insight
                10.5.5.    Recent Developments
        10.6.    Xerox Corporation
                10.6.1.    Snapshot
                10.6.2.    Overview
                10.6.3.    Offerings
                10.6.4.    Financial Insight
                10.6.5.    Recent Developments
        10.7.    Recardo
                10.7.1.    Snapshot
                10.7.2.    Overview
                10.7.3.    Offerings
                10.7.4.    Financial Insight
                10.7.5.    Recent Developments
        10.8.    Sensys Networks Inc.
                10.8.1.    Snapshot
                10.8.2.    Overview
                10.8.3.    Offerings
                10.8.4.    Financial Insight
                10.8.5.    Recent Developments
        10.9.    Telenav Inc.
                10.9.1.    Snapshot
                10.9.2.    Overview
                10.9.3.    Offerings
                10.9.4.    Financial Insight
                10.9.5.    Recent Developments
        10.10.   Iteris Inc.
                10.10.1.    Snapshot
                10.10.2.    Overview
                10.10.3.    Offerings
                10.10.4.    Financial Insight
                10.10.5.    Recent Developments
        10.11.   Kapsch TrafficCom
                10.11.1.    Snapshot
                10.11.2.    Overview
                10.11.3.    Offerings
                10.11.4.    Financial Insight
                10.11.5.    Recent Developments
        10.12.   Kapsch TrafficCom
                10.12.1.    Snapshot
                10.12.2.    Overview
                10.12.3.    Offerings
                10.12.4.    Financial Insight
                10.12.5.    Recent Developments 
        10.13.   Kapsch TrafficCom
                10.13.1.    Snapshot
                10.13.2.    Overview
                10.13.3.    Offerings
                10.13.4.    Financial Insight
                10.13.5.    Recent Developments 
        10.14.   Kapsch TrafficCom
                10.14.1.    Snapshot
                10.14.2.    Overview
                10.14.3.    Offerings
                10.14.4.    Financial Insight
                10.14.5.    Recent Developments 
        10.15.   Kapsch TrafficCom
                10.15.1.    Snapshot
                10.15.2.    Overview
                10.15.3.    Offerings
                10.15.4.    Financial Insight
                10.15.5.    Recent Developments 
        10.16.   Kapsch TrafficCom
                10.16.1.    Snapshot
                10.16.2.    Overview
                10.16.3.    Offerings
                10.16.4.    Financial Insight
                10.16.5.    Recent Developments              

11.    Appendix

        11.1.    Exchange Rates
        11.2.    Abbreviations

Note: Financial insight and recent developments of different companies are subject to the availability of information in the secondary domain.

List of Tables

Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Smart Transportation Market, By Software, 2018 - 2023 (USD Billion)
Table 5 Global Smart Transportation Market, By Software, 2022 - 2030 (USD Billion)
Table 6 Global Smart Transportation Market, By Hardware, 2018 - 2023 (USD Billion)
Table 7 Global Smart Transportation Market, By Hardware, 2022 - 2030 (USD Billion)
Table 8 Global Smart Transportation Market, By Type, 2018 - 2023 (USD Billion)
Table 9 Global Smart Transportation Market, By Type, 2022 - 2030 (USD Billion)
Table 10 Global Smart Transportation Market, By Region, 2018 - 2023 (USD Billion)
Table 11 Global Smart Transportation Market, By Region, 2022 - 2030 (USD Billion)
Table 12 North America Smart Transportation Market, By Software, 2018 - 2023 (USD Billion)
Table 13 North America Smart Transportation Market, By Software, 2022 - 2030 (USD Billion)
Table 14 North America Smart Transportation Market, By Hardware, 2018 - 2023 (USD Billion)
Table 15 North America Smart Transportation Market, By Hardware, 2022 - 2030 (USD Billion)
Table 16 North America Smart Transportation Market, By Type, 2018 - 2023 (USD Billion)
Table 17 North America Smart Transportation Market, By Type, 2022 - 2030 (USD Billion)
Table 18 North America Smart Transportation Market, By Region, 2018 - 2023 (USD Billion)
Table 19 North America Smart Transportation Market, By Region, 2022 - 2030 (USD Billion)
Table 20 Europe Smart Transportation Market, By Software, 2018 - 2023 (USD Billion)
Table 21 Europe Smart Transportation Market, By Software, 2022 - 2030 (USD Billion)
Table 22 Europe Smart Transportation Market, By Hardware, 2018 - 2023 (USD Billion)
Table 23 Europe Smart Transportation Market, By Hardware, 2022 - 2030 (USD Billion)
Table 24 Europe Smart Transportation Market, By Type, 2018 - 2023 (USD Billion)
Table 25 Europe Smart Transportation Market, By Type, 2022 - 2030 (USD Billion)
Table 26 Europe Smart Transportation Market, By Region, 2018 - 2023 (USD Billion)
Table 27 Europe Smart Transportation Market, By Region, 2022 - 2030 (USD Billion)
Table 28 Asia-Pacific Smart Transportation Market, By Software, 2018 - 2023 (USD Billion)
Table 29 Asia-Pacific Smart Transportation Market, By Software, 2022 - 2030 (USD Billion)
Table 30 Asia-Pacific Smart Transportation Market, By Hardware, 2018 - 2023 (USD Billion)
Table 31 Asia-Pacific Smart Transportation Market, By Hardware, 2022 - 2030 (USD Billion)
Table 32 Asia-Pacific Smart Transportation Market, By Type, 2018 - 2023 (USD Billion)
Table 33 Asia-Pacific Smart Transportation Market, By Type, 2022 - 2030 (USD Billion)
Table 34 Asia-Pacific Smart Transportation Market, By Region, 2018 - 2023 (USD Billion)
Table 35 Asia-Pacific Smart Transportation Market, By Region, 2022 - 2030 (USD Billion)
Table 36 RoW Smart Transportation Market, By Software, 2018 - 2023 (USD Billion)
Table 37 RoW Smart Transportation Market, By Software, 2022 - 2030 (USD Billion)
Table 38 RoW Smart Transportation Market, By Hardware, 2018 - 2023 (USD Billion)
Table 39 RoW Smart Transportation Market, By Hardware, 2022 - 2030 (USD Billion)
Table 40 RoW Smart Transportation Market, By Type, 2018 - 2023 (USD Billion)
Table 41 RoW Smart Transportation Market, By Type, 2022 - 2030 (USD Billion)
Table 42 RoW Smart Transportation Market, by Region, 2018 - 2023 (USD Billion)
Table 43 RoW Smart Transportation Market, by Region, 2022 - 2030 (USD Billion)
Table 44 Snapshot – Addco
Table 45 Snapshot – Agero Inc.
Table 46 Snapshot – DENSO Corporation
Table 47 Snapshot – Hitachi Ltd.
Table 48 Snapshot – Gramin Ltd.
Table 49 Snapshot – Xerox Corporation
Table 50 Snapshot – Recardo
Table 51 Snapshot – Sensys Networks Inc.
Table 52 Snapshot – Telenav Inc.
Table 53 Snapshot – Iteris Inc.
Table 54 Snapshot – Kapsch TrafficCom
Table 55 Snapshot – Lanner
Table 56 Snapshot – Nuance Communications Inc.
Table 57 Snapshot – Q-Free ASA
Table 58 Snapshot – Siemens AG
Table 59 Snapshot – TomTom International BV
Table 60 Snapshot – TransCore

List of Figures

Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global Smart Transportation Market  - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Smart Transportation Market Highlight
Figure 12 Global Smart Transportation Market, By Software, 2018 - 2030 (USD Billion)
Figure 13 Global Smart Transportation Market, By Hardware, 2018 - 2030 (USD Billion)
Figure 14 Global Smart Transportation Market, By Type, 2018 - 2030 (USD Billion)
Figure 15 Global Smart Transportation Market, By Region, 2018 - 2030 (USD Billion)
Figure 16 North America Smart Transportation Market Highlight
Figure 17 North America Smart Transportation Market, By Software, 2018 - 2030 (USD Billion)
Figure 18 North America Smart Transportation Market, By Hardware, 2018 - 2030 (USD Billion)
Figure 19 North America Smart Transportation Market, By Type, 2018 - 2030 (USD Billion)
Figure 20 North America Smart Transportation Market, By Region, 2018 - 2030 (USD Billion)
Figure 21 Europe Smart Transportation Market Highlight
Figure 22 Europe Smart Transportation Market, By Software, 2018 - 2030 (USD Billion)
Figure 23 Europe Smart Transportation Market, By Hardware, 2018 - 2030 (USD Billion)
Figure 24 Europe Smart Transportation Market, By Type, 2018 - 2030 (USD Billion)
Figure 25 Europe Smart Transportation Market, By Region, 2018 - 2030 (USD Billion)
Figure 26 Asia-Pacific Smart Transportation Market Highlight
Figure 27 Asia-Pacific Smart Transportation Market, By Software, 2018 - 2030 (USD Billion)
Figure 28 Asia-Pacific Smart Transportation Market, By Hardware, 2018 - 2030 (USD Billion)
Figure 29 Asia-Pacific Smart Transportation Market, By Type, 2018 - 2030 (USD Billion)
Figure 30 Asia-Pacific Smart Transportation Market, By Region, 2018 - 2030 (USD Billion)
Figure 31 RoW Smart Transportation Market Highlight
Figure 32 RoW Smart Transportation Market, By Software, 2018 - 2030 (USD Billion)
Figure 33 RoW Smart Transportation Market, By Hardware, 2018 - 2030 (USD Billion)
Figure 34 RoW Smart Transportation Market, By Type, 2018 - 2030 (USD Billion)
Figure 35 RoW Smart Transportation Market, By Region, 2018 - 2030 (USD Billion)