DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/f68npw/global_smart) has announced the addition of the "Global Smart Transportation Market 2014-2018" report to their offering.
The analysts forecast the Global Smart Transportation market will grow at a CAGR of 18.35% to 2018
Smart transportation is a technologically advanced transportation system that uses IT to improve roadway, railway, airway, and marine transport networks. The increasing number of vehicles on the road has forced governments to focus on road transportation. Therefore, this report focuses on smart transportation applications for roadways. These applications are highly effective in communicating traffic and navigation-related information to vehicle drivers and travelers.
The Global Smart Transportation market can be divided into two segments: Solutions and Services. The solutions and services offered by the vendors can help in making the transportation systems automatic and thereby help government and private service providers to provide a fast and efficient service to customers.
One of the emerging trends in this market is the increasing investment in traffic management systems. These systems can help authorities control traffic, especially in cases of intense traffic congestion.
According to the report, smart transportation systems can smoothly control traffic reducing the risk of collisions. Operators monitoring the incoming feeds can also alert emergency services in case of collisions. Government initiatives promoting the use of smart transportation systems drive the market growth.
Further, the report states that the high maintenance and implementation costs could result in limited adoption of smart transportation systems. Low funding to implement smart transportation systems and low capital expenditure could inhibit the optimal use of these systems in the long run.
- Accenture plc
- Alstom SA
- Cisco System Inc.
- GE Transportation
- IBM Corp.
- Indra Sistemas SA
- Kapsch TrafficCom AG
- Schneider Electric Co.
- Siemens AG
- Thales Group
For more information visit http://www.researchandmarkets.com/research/f68npw/global_smart