New York, Sept. 28, 2020 (GLOBE NEWSWIRE) — announces the release of the report “Smart Transportation: Technologies and Markets” –

The report focuses on mobility solutions that have been developed or customized to meet the unique needs of intelligent transport systems. The scope of this report also includes services provided for integrating such solutions or managed connectivity services.

This study was conducted with a global perspective in terms of the smart transportation technologies and its applications. Market projections have been conducted for five geographic regions: North America, South America, Europe, Middle East and Africa, and Asia-Pacific.

The scope of the report encompasses various components used in smart transportation namely solutions and services.The market also is divided based on modes of transportation.

Additionally, the application industry for the market is segmented into shared mobility, public transport, remote information/guidance, autonomous/driverless vehicles, and others, which include transit hub, electronic toll collection, and variable speed limit. The present global market offers an opportunity to the stakeholders, largely because of a surge in cloud-based services and the increased use of the IoT devices across automotive sector.

This report highlights different solution types in the smart transportation market, which includes parking management, traffic management, security & surveillance, smart ticketing, passenger information management and others comprising fleet management, vehicle telematics, and automatic number plate recognition (ANPR).The services segment is majorly sub-divided into training and consulting, integration services, support and maintenance.

The estimated and forecast market revenue considered in this report is the summation of prices for software, hardware, and subscription services.

This report also offers insights on drivers, restraints, and opportunities for the market, which was gathered through primary and secondary research.The strategy adopted by the companies in the global market is provided in the report to analyze ongoing trends in the market.

The report provides market share analysis and key vendor profiles of top smart transportation solution providers. The region level study includes North America, Europe, Asia-Pacific, Middle East and Africa, and South America.

This report considers the impact of COVID-19 and the economic that caused slowdown it created in economy due to lockdown in various countries.When people are following social distancing and relying more on technology, it is observed that the security threats has been increased along with growing cyber-attacks.

It is expected that the demand for connectivity solutions across the automotive industry will increase due to COVID-19 pandemic and boost the smart transportation market.

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.

Regions are growing in populations, which has required bolstering both existing and new infrastructure, including transport infrastructure systems.These growing populations lead to rising in traffic congestion, increased travel time, higher air pollution levels, and more fuel consumption.

To address these challenges there is need of sustainable and efficient traffic solutions such as integration of new technologies (ITS).In the transport infrastructure, ITS is required to enhance safety, mobility and environmental efficiency while boosting regional and local economies.

ITS is used across variety of transportation forms, including car parks, traffic lights, toll booths, bridges, and roads. It also is applied to build interconnected transportation systems with open communication between devices and vehicles.

ITS offers real time information about traffic and public transportation conditions to reduce the travel time and make the travel easier, safer, and smarter. Most smart city projects include the following key ITS applications –
– Advanced Traffic Management System (ATMS): To help control traffic and improve efficiency ATMS can: adjust traffic lights and other signals in real-time; dynamically adjust rates on toll roads; provide traffic information.
– Advance Vehicle Control and Safety System (AVCSS): To promote safe driving, AVCSS can: automatically control a vehicle, preventing or minimizing human driving errors, help drivers avoid or quickly react to hazardous conditions, provide cruise control, lane keeping and parking assistance.
– Advanced Public Transportation System (APTS): To improve the safety of public transportation riders APTS uses: real-time passenger information systems, automatic vehicle location systems, bus arrival notification systems, systems providing priority to buses at intersections.
– Commercial Vehicle Operation (CVO): CVO is used for automatic vehicle monitoring specifically for commercial vehicles such as buses, ambulances, trucks, and taxis. Apart from monitoring other functions of CVO includes fright administration, commercial vehicle administrative process, Weigh-In-Motion (WIM), roadside CVO safety, on-board safety monitoring, hazardous material planning and incident response.

Traffic data collection, data transmission, traffic data analysis, and traveler information are some key guiding principles the ITS follows. A smart network of interconnected sensors and smart devices can lead to a more sustainable, efficient and robust city center.

Smart transportation is highly needed as it can broadly influence almost every aspect of the smart city’s operation on daily basis.For instance, trip route planning is helpful, particularly in large, crowded cities.

Trip planning applications and service providers afford route recommendations based on relatively shorter paths and traffic congestion.
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