DUBLIN--(BUSINESS WIRE)--The "Global Smart Transportation Market - Segmented By Application, Product Type, and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The smart transportation market was valued at USD 67.15 billion in 2017 and is expected to reach a market value of USD 189.28 billion by 2023, registering a CAGR of 18.68% during the forecast period 2018-2023.
More than half the world's urban population resides in Asia where some countries, like India and China, already have about a billion people living in the cities alone. The other regions with relatively high urban population are North America, Europe, and Africa. The growing urbanization is an indication of the rising complexities in the cities across the globe with transportation requirements being one of those issues.
The exponentially growing trend of connected cars devices and connected devices in other vehicles as well is driving the market on a large scale. Moreover, a rise of connected cars which are equipped with mechatronics, telematics, artificial intelligence, and other IoT features, which help to interact with various smart devices and vehicles, might boost the market of various integrated technological systems in the transportation sector.
It is expected that approximately 233 million connected cars would be on the road by 2020, globally, and Europe is holds the majority of the percentage in the production of connected cars during the forecast period. The connected cars market is expected to increase by four times in 2020 compared to the current market state.
- Cisco Systems Inc.
- AGT International
- IBM Corporation
- Oracle Corporation
- Hitachi Inc.
- Schneider Inc.
- SAP SE
- Siemens Corporation
- Orange Inc
- GSM Association
Key Topics Covered:
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
5. Technology Snapshot
6. Global Smart Transportation Market Segmentation
7. Competitive Intelligence - Company Profiles
8. Investment Analysis
9. Future Outlook of Smart Transportation Market
For more information about this report visit https://www.researchandmarkets.com/research/mfxtlb/global_smart?w=4