Global Smart Transportation Market 2016: Industry Review, Research, Statistics, and Growth to 2021
Latest industry research report on 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.
Government initiatives such as the EU Directive on Intelligent Transport Systems passed on July 7 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.
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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.
Smart Transportation Market Analysis by Solutions
The market is segmented on the basis of solutions such as ticketing management system, parking management & guidance system, passenger information system, integrated supervision system and traffic management system. The ticketing management system is projected to have the highest revenue share, as it is the basic system in transportation infrastructure, which was implemented easily. However, the integrated supervision system is expected to have the highest growth potential as it would reduce traffic blocks, accidents and provide better safety measures.
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Smart Transportation Market Analysis by Services
The 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.
Smart Transportation Market Analysis by Smart/Green Fuels
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.
The market is highly capital intensive and requires collaboration of expertise to develop the system. Therefore, the top strategy adopted by companies in the market is partnerships. The key companies profiled in the report are Accenture Plc, Alstom SS, Cisco Systems, Inc., GE Transportation, IBM, Kapsch, LG Communications, Cubic Corporation, Affiliated Computer Services, Inc. and Honeywell International, Inc.
High level Analysis
The report analyzes the potency of buyers & suppliers, threat of substitute products and new entrants based on the Porter’s five force model. Since the market is at an emerging stage, minimum options are available for the buyers, which restrict their bargaining power. The bargaining power of suppliers is high as they can negotiate with buyers according to their terms to provide solutions and services to implement intelligence in the system. Threat of substitute products is high as the market is still evolving and new technologies are being explored to develop better solutions. The market requires high capital investment and significant technical expertise; therefore, the threat of new entrants is low. The intensity of rivalry is low as companies are involved in partnerships to develop better solutions for the market. The top investment pockets are evaluated based on the market estimations of each segment. The key strategies adopted by the companies are analyzed in detail to give implications of the competitive scenario.
- Extensive analysis of the factors that drive and limit the growth of the market are provided
- The report discusses key trends about the future of smart fuels such as bio-gas, ethanol, hydrogen, wood-gas and solar-cell
- Market estimations are done according to the current market scenario and projected trends for the period between 2014 and 2020 with 2013 as base year
- Deep dive analysis of various geographies would give an understanding of the trends in various regions so that companies can make region specific plans
- In-depth analysis of segments such as solutions and services provide insights that would allow companies make strategic business plans
- The meticulous discussion of the supply chain participants of the market is provided in value chain analysis
The market is segmented into solutions, services and geographies as follows:
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
MARKET BY GEOGRAPHY
- North America
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