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

1. 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 www.MarketsandMarkets.com

2. 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. PDF Brochure : https://www.marketsandmarkets.com/pdfdownload.asp?id=155442217

3. 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 Customization : https://www.marketsandmarkets.com/requestCustomization.asp?id=155442217

4. 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. Request Sample @ https://www.marketsandmarkets.com/requestsample.asp?id=155442217

5. 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. Speak to analyst @ https://www.marketsandmarkets.com/speaktoanalyst.asp?id=155442217

6. Market Ecosystem: The smart solutions market for mass transit ecosystem consists of system manufacturers such as Thales Group (France), Siemens AG (Germany) and, KapschTrafficCom (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. Buy Now: https://www.marketsandmarkets.com/Purchase/purchase_report1.asp?id=155442217

7. Browse >> 73market data tables 64figures 163 pagesand in-depth TOC “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” Early buyers will receive 10% customization on this report. This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years to prioritize efforts and investments.

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