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Report Highlights
The global smart transportation market was valued at $152.6 billion in 2023. The market is expected to grow from $181.7 billion in 2024 to $484.5 billion by 2029, at a compound annual growth rate (CAGR) of 21.7% from 2024 through 2029.
Report Includes
- 53 data tables and 43 additional tables
- An overview of the global market for smart transportation technologies
- Analyses of the global market trends, with sales data for 2023, estimates for 2024, forecasts for 2025, 2027, and projections of compound annual growth rates (CAGRs) through 2029
- Evaluation and forecast the market size for smart transportation technologies based on transportation mode, and geographical region
- Identification of new opportunities, challenges, and technological hurdles within smart transportation applications
- Detailed analysis of the current market trends, market forecast, and discussion of technological and regulatory elements that are affecting the future marketplace for smart transportation
- A discussion on ESG challenges and practices of the industry
- Key merger and acquisition deals, partnerships, collaborations and joint ventures as well as other strategic alliances within the industry
- Profiles of the leading global players, including Huawei Technologies Co. Ltd., IBM, Intel Corp., Siemens and Cisco Systems Inc.
Report Scope
The study analyzes the drivers and dynamics of the smart transportation market, along with current industry trends. The report concludes by providing profiles of the market’s major vendors. The base year for the study is 2023, with projections for the years 2024 through 2029, including forecasts of compound annual growth rates (CAGR) for the forecast period.
This report analyzes technology offerings across various transportation modes, focusing on roadway, airway, railway and maritime systems. Each transportation mode focuses on various smart transportation solutions and essential services, which include consulting, deployment, integration, and maintenance. These factors are critical for the successful implementation of these technologies, thus the report also analyzes them.
The roadway mode’s key offerings include traffic management systems, vehicle telematics, passenger information solutions, smart ticketing and parking management. The railway mode’s key offerings include employing technologies such as rail traffic management systems and passenger information systems to improve services. The airway mode’s key offerings include air traffic management, passenger information systems, freight information and smart ticketing. The maritime mode’s key offerings include maritime software, port operations management and vessel tracking. This study analyzes these offerings, all of which are essential to each transportation mode’s successful implementation and function.
The report also analyzes the markets for each of the following regions: North America, Europe, Asia-Pacific and the Rest of the World (RoW), which includes Latin America, the Middle East and Africa.
Report Synopsis
| Report Metrics | Details | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2023 | ||||||||||||||||||
| Forecast period considered | 2024-2029 | ||||||||||||||||||
| Base year market size | $152.6 Billion | ||||||||||||||||||
| Market size forecast | $484.5 Billion | ||||||||||||||||||
| Growth rate | CAGR of 21.7% from 2024 to 2029 | ||||||||||||||||||
| Units considered | $ Millions | ||||||||||||||||||
| Segments covered | By Transportation Mode, Roadway Offerings, Airway Offerings, Railway Offerings, Maritime Offerings, and Region | ||||||||||||||||||
| Regions covered | North America, Europe, Asia-Pacific, and the Rest of World (Latin America, Middle East and Africa) | ||||||||||||||||||
| Key Market Drivers |
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| Companies studied |
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Frequently Asked Questions (FAQs)
- By Transportation Mode.
- By Roadway Offerings.
- By Airway Offerings.
- By Railway Offerings.
- By Maritime Offerings.
- By Region.
Analyst Credentials
Austin Samuel – Consultant-Technology Research
Austin Samuel is an experienced professional with nearly a decade of industry experience in research and analysis, specializing in Information Technology. He has conducted extensive research and provided comprehensive syndicate and custom reports on the developments and application of information technology across multiple industries for international and domestic clients. He exhibits exceptional analytical abilities and strategic thinking and has contributed significantly to the team. Academically, Austin holds a master’s degree in Marketing and IT and a bachelor’s degree in Electrical and Electronics.
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Report Highlights
The global market for smart transportation technologies should grow from $90.4 billion in 2020 to $183.0 billion by 2025, at a compound annual growth rate (CAGR) of 15.1% during the forecast period of 2020-2025.
Report Includes
- 85 tables
- An overview of the global market for smart transportation technologies
- Estimation of the market size and analyses of the global market trends, with data from 2019, estimates for 2020 with projection of compound annual growth rates (CAGRs) through 2025
- Market share analysis of smart transportation technologies based on transportation mode, component, application, technology deployment, and geographical region
- Identification of new opportunities, challenges, and technological hurdles within the smart transportation applications
- Impact analysis of COVID-19 on smart transportation market, and insights into transportation challenges during and post-COVID and some expected connectivity solutions across the automotive industry
- Detailed analysis of the current market trends, market forecast, and discussion of technological, and regulatory elements that are affecting the future marketplace for smart transportation
- Competitive landscape featuring major market participants, their company share analysis and key strategies adopted by them
- Company profiles of the leading automotive manufacturers and connectivity/security providers, including BMW Group, Daimler Group, General Motors (GM), BAE Systems Inc., Tesla Inc., NXP Semiconductors, Cisco Systems Inc., Verizon Communications Inc., and Honda Motor Co., Ltd.
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