Increased Population, Urbanization & Industrialization Will Boost the Demand for Smart Public Transportation

1. Global Trend in Vehicular Emission Reduction to Drive the Demand for Smart Solutions Market for Mass Transit The 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. Browse 73 market data tables and 64 figures spread through 163 pages and in-depth TOC on “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” https://www.marketsandmarkets.com/Market-Reports/smart-solution-mass-transit-market-155442217.html Early buyers will receive 10% customization on reports. “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.

2. The smart solutions market for mass transit is projected to grow at a CAGR of 8.90% during the forecast period, to reach a market size of USD 44.78 Billion by 2021. A wide array of upcoming railway projects, increased urbanization, and the growing need of public transport has led to the increase in demand for smart transportation solutions and its related components, software and services. Additionally technological advancements, such as the implementation of automatic vehicle location systems, traveler information systems, and electronic payment systems have led the demand for smart solutions market for mass transit solutions. These advancements helps to improve the fuel economy, lower emission levels, reduce traffic congestion that increase traveler convenience. In this report, the global market for mass transit is broadly segmented based on its use into roadways and railways. Region-wise, Asia-Oceania and Europe are estimated to dominate the market for roadways and railways. The Asia-Oceania market is growing due to rising industrialization, urbanization, and government spending on the transportation sector. The growth of the European market can be credited to the improved socio-economic conditions in economies such as Germany, the U.K., and France. Due to increasing need for surveillance and vehicle tracking, there has been an increased in the use of Wi-Fi devices, in public transits (both roadways and railways) which is driving the demand for smart solutions in mass transit. The market for smart ticketing systems is expected to grow for both roadways and railways. This growth is owing to the advantages offered in terms of efficiency, and reliability. These services make the travel experience better as well as reduce losses which leads to better performance. The automated vehicle location system is estimated to be the fastest growing market in the roadways transportation segment. This growth is owing to the advantages AVLS offers such as vehicle tracking. This helps the transportation agency to keep a real time check on its fleet and provide assistance in case of medical emergency. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.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. The smart solutions market for mass transit market is dominated by a few global players such as Thales Group (France), Siemens AG (Germany), Kapsch TrafficCom (Austria), TomTom International (The Netherlands), WS Atkins Plc. (U.K), Q-Free ASA (Norway), Swarco AG (Austria), TransCore LP (U.S), Iteris Inc. (U.S), and Efkon AG (Austria).

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