The smart solutions market for mass transit plays an important role in mass transits as it offers advanced solutions in existing transportation infrastructure to tackle issues such as traffic congestion and passenger safety. The smart solutions market for mass transit requires an assembly of components such as CCTV cameras, GPS devices, digital displays, and automated stop announcement systems, to overcome the issues of transportation. With the increasing use of advanced systems and components there has been advancement in the public transit technology. The existing transit model depends on the traffic signals and does not includes advanced options such as rerouting or vehicle tracking. With the increase in adoption of technology, the smart solutions market for mass transit is projected to grow at a CAGR of 8.90% during the forecast period, to reach USD 44.78 Billion by 2021. Rapid urbanization in emerging economies is one of the key factors which would drive the growth of the smart solutions market for mass transit systems in recent years.
The smart solutions market for mass transit is dominated by a few global players, and comprises several regional players. Thales Group (France), Siemens AG (Germany), Kapsch TrafficCom (Austria), and TomTom International (The Netherlands) are some of the major players operating in the market. The key strategies adopted by the players to gain traction in the global smart solutions market for mass transit are supply contracts/expansions. For instance, in June 2016, WS Atkins Plc. (U.K.) partnered with The Colorado Department of Transportation (U.S.) to provide construction management, inspection, and materials-testing services. Some companies have also preferred new product development as their second priority, in order to diversify their operations and to fortify their business network. For instance, in March 2016, Thales Group (France) introduced TransCity, a cloud based ticketing solution for urban public transport networks. The TransCity solution is a combination of five systems: fare management, card management, customer management, business analytics, and traffic management.
Siemens AG (Germany) has adopted supply contracts as a primary strategy to retain their leading position in the smart solutions market for mass transit market. For instance, the company has a supply contract with a number of OEMs and the governments, to increase its geographical reach. The company signed a contract with the Egyptian National Railways (ENR) in 2014, for supplying signaling solutions. It also supplied electronic interlocking systems, level-crossing technology, and communication technology, covering a stretch of 260 km for two routes: from Zagazig to Abu Kebir and from Benha to Port Cairo.
Kapsch TrafficCom (Austria) adopted mergers and acquisitions as key strategy to strengthen its market position. In recent years, the company acquired two firms namely, Transdyn (U.S.) in January 2014 and a division of Schneider Electric (France) in April 2016. The acquisition helps Kapsch TrafficCom to widen its product offerings for smart transportation systems and position itself as an end-to-end solution provider around the world.
Smart Solutions Market for Mass Transit (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
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