Software News

Software News!

Application and Enterprise Software News
Press release distribution service

Software Links: Application Software, Enterprise Software, Virus Software





 




Home > Software News:
  • Watch News Feed
  • Bestsellers Software

  • Global Smart Transportation Market Size, Status, Overview and Future Forecast

     

     

     


    (I-SoftwareNews.Com, June 21, 2019 ) According to the new market research report Smart Transportation Market for Roadway & Railway By Technology (AVLS, TIS, EPS, & Intelligent Vehicle Initiatives), Components (CCTV Camera, GPS, Display, Automated Stop Announcement & Wi-Fi), Application, and Region - Global forecast to 2021", The smart solutions market for mass transit is primarily driven by the need for better public transportation systems which would support the increasing population and urbanization around the globe. The smart solutions market for mass transit is projected to grow at a CAGR of 8.90%, to reach a market size of USD 44.78 Billion by 2021.



    Download our free PDF Brochure and gain crucial industry insights that will help your business grow:



    https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=155442217



    Key Players of Smart Transportation Market



    The smart solutions market for mass transit ecosystem consists of system manufacturers such as Thales Group (France), Siemens AG (Germany) and, Kapsch TrafficCom (Austria) amongst others; traveler information system manufacturer such as WS Atkins Plc (U.K.)and Q-Free ASA (Norway) among others; and the manufacturers of parking assist systems include Swarco AG (Austria) and TransCore LP (U.S.) amongst others; these OEMs integrate these equipments and sell them to end-users to cater to their business requirements.



    Electronic payment system and traveler information system have significant impact on the growth of smart solutions market for mass transit



    For roadways as a transportation mode the electronic payment system segment is estimated to be the largest market. The growth is driven by the increase in efforts by governments and transportation agencies to reduce manual cash collection and shift to advanced e-payment systems. For instance, the Singapore government has implemented a contactless smart card which can be used to travel across the entire public transport network. In the case of railways as a transportation mode, the traveler information system segment is estimated to be the largest market. The system helps the passengers with information and guidance about the upcoming stops and the route which makes their travel experience better. For instance, in Australia the Smartraveller information system is used which provides travel information as well as travel warnings.



    Increase in need for smart ticketing systems would give rise to demand for smart solutions market for mass transit



    The smart ticketing system is the fastest growing market in the smart public transportation market for both roadways and railways. This growth is due to the benefits such as increased efficiency, and reliability. This application is essential to reduce manual interference and force public transport operators to deploy e-ticketing and integrated payment systems. As per the Rocky Mountain Institute (U.S.) ~14% of a transportation company’s budget is spent on fare collection. Thus the system improves a transportation company’s financial performance which has led to several mass transit operators already implementing smart ticketing solutions. For instance, according to the annual statistics published by the Department for Transport, U.K., out of 26.2 thousand public buses in U.K., 89% of public buses are fitted with ITSO smart cards by 2015.



    Request for Free Customization:



    https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=155442217



    North America & Europe: Largest markets for smart solutions market for mass transit



    The North American market is estimated to dominate the market for roadways as it accounted for the largest share during the forecast period. The growth factors includes increasing roadways networks, government spending and rising safety concerns for commuters. Europe is estimated to dominate the market for railways in terms of value during the forecast period. This growth is attributed to improved socio-economic conditions in countries such as Germany, the U.K., and France. In addition, the sizeable growth in population of these countries leads to an increase in use of public transport, which further resulted in more government projects for transportation infrastructure development.



    MarketsandMarkets™

    Mr. Shelly Singh

    1-888-600-6441

    sales@marketsandmarkets.com

    Source: EmailWire.Com

    Source: EmailWire.com

    Media Sponsor

    I-SoftwareNews.Com Sponsors



    Software Advertisement

    I-SoftwareNews.Com Resources
  • Application Software
  • Bioinformatics
  • Computers
  • Computer Games
  • Enterprise Software
  • Graphics/Printing/CAD
  • Hardware/Peripheral
  • industrial Computers
  • Information
  • Internet
  • Multimedia
  • Networking
  • Public Sector
  • Robotics
  • Semiconductor
  • Software
  • Telecommunications
  • Webmaster
  • Information Technology Publications
    We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Information Technology resource center today to browse our selection of 600+ complimentary Information Technology magazines, white papers, webinars, podcasts, and more. Get popular titles including:

    The Integration Journey—a Field Guide to Enterprise Integration for SOA
    Government Technology\'s Public CIO
    Protecting Content During Business Disruption: Are You Covered?

    No credit cards, coupons, or promo codes required. Try it today!

    Press release distribution service

    I-SoftwareNews.com is part of GropWeb Network, online properties of GroupWeb Media LLC. Copyright © GroupWeb Media LLC. All Rights Reserved.

    For unlimited press release distribution for $99 per month, call (281) 645-4086 or start posting your press releases online at EmailWire.com.
    Copyright 2008 GroupWeb Media LLC
    GroupWeb Media Network

    Aviation-NewsWire | ArtNewsWire | Auction NewsWire | CRM NewsWire | ePhotoNewsWire | Energy Industry | EstateNewsWire | Entertainment-NewsWire.com | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | i-Homeland Security.Com | iMac-NewsWire.Com | i-Press-Release-Service | i-SoftwareNews.com | iT-NewsWire.Com
    | i-TravelNewsWire.Com | MoneyNewsWire.Net | Movie-Stars-News.Com | MSNewsWire.Net | PharmaNewsWire.Com | Publishing-NewsWire.Com | RSSNewsWire.Net | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com | VoIPNewsWire.Net | XSportsWorld.Net
    I-SoftwareNews.com - Newswire and Press Release service of GroupWeb Media LLC