Precision Business Insights has published a report on the global smart transportation market, estimating its value at USD 161.4 Million in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 39.5% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/smart-transportation-market

Market Definition:

With the ultimate goal of developing more effective and sustainable transportation systems, smart transportation makes use of contemporary technology such as cloud computing, wireless communication, and data analytics to improve mobility, traffic flow, and safety.

Drivers:

1)      Increasing adoption of advanced technologies such as artificial intelligence, IoT related to machine learning.

2)      Growing urban population and increased demographic rates.

The global smart transportation market segmentation:
1) By Type: Software, Hardware, and Services.
2) By Application: Navigation, Parking Management & Guidance System, Ticketing Management System, Integrated Supervision System, Traffic Management System, Signaling, Safety & Security, Mobility as a Service, Public Transport, Transit Hubs, Connected Cars, and Others.
3) By Mode of Transportation: Road Transportation, Rail Transportation, Airway Transportation, and Maritime Transportation.

Regional Overview:
The report also examines the current concerns and their Future Effects on the smart transportation market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the smart transportation market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.

·         North America (U.S., Canada)

·         Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

·         Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)

·         Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)

·         Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

The competitive landscape is dominated by major players like IBM, Xerox Corporation, Cubic Corporation, Accenture Plc, Oracle, Siemens, HITACHI, Alstom SA., Cisco Systems, GE Transportation, Thales S.A., Apsch AG.

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