Global Smart Transportation Market : Research Methodology & Rapid Growth Till 2021
The report “Smart Transportation Market” is primarily driven by rising population, urbanization, infrastructural spending and environmental concerns for emission control. With the growth in urbanization, there would be an increase in the number of commuters which would increase the demand for public transport during the forecast period.
The research methodology used in the report involves various secondary sources such as company annual reports/presentations, industry association publications, magazine articles, directories, technical handbooks, and world economic outlook, trade websites, technical articles, and press release, industry magazines along with paid databases. To get the market numbers, the number of public transits have been considered, country -wise. These public transits are multiplied with the penetration of each component in that particular country. The country-wise market size, by volume is multiplied with the country-wise average selling price of each type of component. This results in the country-wise market size for that particular component, in terms of value, which is further added to arrive at the regional market. Further the regional level data is added to derive global numbers. The same approach has been used to calculate the market sizes, by volume and value for the applications. The summation of the country-wise and regional-level market size, in terms of value, provides the size of the global smart solutions market for mass transit.
The figure below illustrates the break-up of the profile of industry experts who participated in primary discussions.
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The smart solutions market for mass transit ecosystem consists of system manufacturers such as Thales Group (France), Siemens AG (Germany) and, Kapsch TrafficCom (Austria) amongst others; traveler information system manufacturer such as WS Atkins Plc (U.K.)and Q-Free ASA (Norway) among others; and the manufacturers of parking assist systems include Swarco AG (Austria) and TransCore LP (U.S.) amongst others; these OEMs integrate these equipments and sell them to end-users to cater to their business requirements.
Target Audience of Smart Transportation Market
- Smart public transportation solution providers
- Manufacturers of smart public transportation components
- Raw material suppliers for smart public transportation components
- Transportation authorities
- Legal and regulatory authorities
- Fleet operators
Electronic payment system and traveler information system have significant impact on the growth of smart solutions market for mass transit
For roadways as a transportation mode the electronic payment system segment is estimated to be the largest market. The growth is driven by the increase in efforts by governments and transportation agencies to reduce manual cash collection and shift to advanced e-payment systems. For instance, the Singapore government has implemented a contactless smart card which can be used to travel across the entire public transport network. In the case of railways as a transportation mode, the traveler information system segment is estimated to be the largest market. The system helps the passengers with information and guidance about the upcoming stops and the route which makes their travel experience better. For instance, in Australia the Smartraveller information system is used which provides travel information as well as travel warnings.
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Increase in need for smart ticketing systems would give rise to demand for smart solutions market for mass transit
The smart ticketing system is the fastest growing market in the smart public transportation market for both roadways and railways. This growth is due to the benefits such as increased efficiency, and reliability. This application is essential to reduce manual interference and force public transport operators to deploy e-ticketing and integrated payment systems. As per the Rocky Mountain Institute (U.S.) ~14% of a transportation company’s budget is spent on fare collection. Thus the system improves a transportation company’s financial performance which has led to several mass transit operators already implementing smart ticketing solutions. For instance, according to the annual statistics published by the Department for Transport, U.K., out of 26.2 thousand public buses in U.K., 89% of public buses are fitted with ITSO smart cards by 2015.
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Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
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