TechNavio recognizes the following companies as the key players in the Global Smart Transportation Market: Kapsch TrafficCom AG, Schneider Electric Co., Siemens AG, and Thales Group.
Commenting on the report, an analyst from TechNavio’s Automotive team said: ”The increasing number of road accidents and traffic congestion is a major factor forcing governments across the globe to spend heavily on improving road transportation. The increased purchasing power of families and the increasing urbanization worldwide are some of the reasons behind increased traffic on roads. Thus, the need for better traffic control is expected to lead to increasing investment in traffic management system. In 2012, the total investment in traffic management systems was valued at US$790 million and it is expected to reach US$1,860 million by 2016.”
According to the report, one of the major factors is the growing popularity of the Global Smart Cities market. Since, smart transportation is an integral part of smart cities, the growth of the Global Smart Cities market is expected to foster the demand for smart transportation.
Further, the report states that the high maintenance cost involved for the proper implementation of smart transportation solutions is one of the major challenges confronting the market.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Cisco Systems Inc., International Business Machines Corp., Iteris Inc., and Intel Corp.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-smart-transportation-market-2012…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our Automotive market research, please visit https://www.technavio.com/automotive
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TechNavio Announces the Publication of its Research Report – Global Smart Transportation Market 2012-2016
