The global smart transportation market is expected to increase from $181.7bn in 2024 to $484.5bn by 2029, a CAGR of 21.7%, according to Research & Markets.

Intelligent transportation systems (ITS) offer real-time information about traffic and public transportation conditions to reduce the travel time and make travel easier, safer and smarter. Smart transportation is highly needed as it can broadly influence almost every aspect of a smart city’s operation on a daily basis. For instance, trip route planning is helpful, particularly in large, crowded cities. Trip planning applications and service providers afford route recommendations based on relatively shorter paths and traffic congestion.

The study analyses the drivers and dynamics of the smart transportation market, along with industry trends. The base year for the study is 2023, with projections for the years 2024 to 2029, including forecasts of CAGR.

The report analyses technology offerings across various transportation modes, focusing on roadway, airway, railway and maritime systems. Each transportation mode focuses on various smart transportation options and essential services, which include consulting, deployment, integration and maintenance. These factors are critical for the successful implementation of these technologies.

The roadway mode’s key offerings include traffic management systems, vehicle telematics, passenger information, smart ticketing and parking management. The railway mode’s key offerings include rail traffic management and passenger information systems to improve services. The airway mode’s key offerings include air traffic management, passenger information systems, freight information and smart ticketing.

The maritime mode’s key offerings include maritime software, port operations management and vessel tracking.

Advanced traffic management system (ATMS) help control traffic and improve efficiency. ATMS can: adjust traffic lights and other signals in real time; dynamically adjust rates on toll roads, and provide traffic information.

Advanced vehicle control and safety systems (AVCSS) help promote safe driving. AVCSS can automatically control a vehicle, preventing or reducing human driving errors, help drivers avoid or quickly react to hazardous conditions, and provide cruise control, lane-keeping and parking assistance.

Advanced public transportation systems (APTS) improve the safety of public transportation riders. APTS uses real-time passenger information systems, automatic vehicle location systems, bus arrival notification systems, and systems providing priority to buses at intersections.

Commercial vehicle operation (CVO) is used for automatic vehicle monitoring, specifically for commercial vehicles such as buses, ambulances, lorries and taxis. Apart from monitoring, other functions of CVO includes freight administration, commercial vehicle administrative process, weigh-in-motion, roadside CVO safety, on-board safety monitoring, hazardous material planning, and incident response.

Companies featured in the report include Aarav, Advantech, Allied Telesis, Alstom, Atos, Axiomtek, Cisco, Conduent, Hexagon, Hitachi, Huawei, IBM, IEI Integration, Intel, NEC, SAP, Siemens and Thales.

For more information about the report, visit www.researchandmarkets.com/r/7qncpw.