North America in Smart Transportation Market to reach $36bn by 2024 - PowerPoint PPT Presentation

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North America in Smart Transportation Market to reach $36bn by 2024


More Information @ The traffic management system dominated the market in 2017 of the software segment of the smart transportation market. The market is growing due to large-scale adoption of the services offered such as route guidance system, smart signaling systems, video surveillance, and traditional signaling systems. These systems aid in the freight management and efficient tolling. – PowerPoint PPT presentation

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Title: North America in Smart Transportation Market to reach $36bn by 2024

Global Smart Transportation Market to grow at 20
CAGR from 2018 to 2024
Key Insights of Smart Transportation Market
  • According to the new technology research report
    Smart Transportation Market, by Global Market
    Insights, Inc. says Smart Transportation Market
    to exceed USD 130 billion by 2024, driven by
    adoption of connected vehicles for enhancing
    public safety and security.
  • Subject to the extensive and swift adoption of
    intelligent mobility solutions across major
    cities around the globe, smart transportation
    market has been treading along a lucrative growth
    path in the recent years. In addition to the
    advent of these smart technologies, a remarkable
    increase in governmental patronage and financial
    support toward revamping transportation industry
    can be accredited to the rapid progression of
    this business space. Indeed, it is being
    projected that smart transportation industry,
    which surpassed a total remuneration portfolio of
    about USD 41 billion in 2017, would establish
    itself as one of most profitable business
    verticals in the times to come.
  • Elaborating further, the robust penetration of
    smart technologies in the transit space coupled
    with the efforts being deployed by the overall
    automotive industry to manufacture innovative
    vehicles has consequentially propelled the market
    share. Moreover, it would be prudent to mention
    that numerous governments, particularly across
    the emerging economies, appear keen to invest
    massive amount of resources in developing smart

  • How Smart Cities initiative will favorably impact
    smart transportation market trends in India
  • In a recent turn of events, Government of India
    has declared to construct 599 highway projects
    across the country under the ambitious Smart
    Cities program. With a total budgetary outlay of
    INR 108,000 crore, which would be spent over the
    period of 5 years, the project has already
    received INR 50,802 crore and an additional sum
    of INR 48,000 crore would be utilized for
    developing first 20 Smart cities. One of the
    foremost goals of the scheme is to provide
    efficient urban mobility and public transport
    system a factor that would significantly
    bolster the growth prospects of industry in the
  • Concurrently, the Indian Government has framed a
    National Electric Mobility Mission Plan 2020
    which proposes to incentivize adoption of green
    vehicles and ramp up domestic manufacturing
    capability of automotive sector. This would
    warrant rapid adoption of intelligent traffic
    management and integrated multimodal transport
    solutions which would eventually have an
    optimistic influence on the market share


Browse Full Market Research Report Of Smart
Transportation Market _at_ https//
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report _at_ https//
Smart Transportation Market

Smart Transportation Market Size, By Mode of
Transportation, 2017 2024 (USD Million)

Smart Transportation Industry Background
  • Dubai Leading the proliferation of smart
    transportation industry across MEA region
  • Building on the legacy of innovative initiatives,
    Dubai has recently announced to have joined hands
    with the US based transportation solutions
    provider, Hyperloop One Inc. Reportedly, the
    objective of this alliance is to harness the
    prowess of groundbreaking transport technologies,
    transform the conventional idea of mobility, and
    assist Dubai in reinforcing its reputation as the
    chief hub of global trade and tourism.
  • For the record, Hyperloop is a proposed mode of
    freight and passenger transportation that would
    apparently propel a pod-like vehicle through a
    reduced pressure tube with a speed more than that
    of an airliner. With the emergence of such
    progressive technologies, the smart
    transportation market is on the cusp of
    witnessing a paradigm shift of sorts in the times
    to come.

  • China A pivotal contributor toward global smart
    transportation industry share augmentation
  • Touted as the largest automobile market across
    the globe, China has made swift headways in
    enhancing the overall growth potential of
    industry in the recent years. For instance, the
    Intelligent Transport System Association of China
    has recently announced to invest about USD 30
    billion in the intelligent transport solutions
    sector by 2020 that would aid in encouraging
    green transport system.
  • Speaking on the similar lines, the Chinese
    Government aims to have 10 percent of all cars to
    be self-driving by 2030. Subsequently, the market
    players consider this opportunity as significant
    and intend to release unique solutions that would
    assist in delivering better traffic updates,
    on-the-go recharging of electric-vehicle
    batteries, more accurate mapping, etc.
  • Apart from such proactive schemes, China has
    established a national motor vehicle and driver
    information management system and further plans
    to set up a platform for national electronic
    charging systems. There are also various efforts
    in pipeline to promote information-sharing
    activities between civil aviation, rails, buses
    which would achieve seamless integration of data,
    in turn opening plethora of opportunities for
    industry stakeholders.

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