HOME Research Insight Alstom SA (Levallois-Perret, France) and IBM Corporation (New York, U.S.) are the Key Players in the Smart Transportation Market

Alstom SA (Levallois-Perret, France) and IBM Corporation (New York, U.S.) are the Key Players in the Smart Transportation Market

The smart transportation market size is expected to grow from 72.05 Billion in 2016 to USD 220.76 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 25.1% during the forecast period. Some of the major factors that are driving the growth of the smart transportation market include rising demand of integrated security & safety for enhancing public safety and the rising urban population. The passenger information solutions segment is expected to hold the largest market share during the forecast period. Passenger information solutions make an important link between the passenger and transit service provider. Passenger information solutions provide real-time information of transit services, such as current location, estimated arrival & departure time, and causes for disruption.

Technological giants such as Alstom SA (Levallois-Perret, France), Cisco Systems, Inc. (California, U.S.), Cubic Corporation (California, U.S.), General Electric Company (Massachusetts, U.S), IBM Corporation (New York, U.S.), Indra Sistemas S.A. (Madrid, Spain), Kapsch TrafficCom AG (Vienna, Austria), LG CNS Co. Ltd. (Seoul, South Korea), Q-Free ASA (Trondheim, Norway), Siemens AG (Munich, Germany), Thales Group (La Defense, France), TomTom International B.V. (Amsterdam, Netherlands), and WS Atkins (Epsom, U.K.) offer smart transportation solutions and services to cater to the needs and demands of the market. These players have adopted various growth strategies, such as business expansions, mergers & acquisitions, partnerships & collaborations, and new service launches. The strategy of partnerships and collaborations has been the major strategical trend, accounting for 40% of the market share of all the growth strategies adopted by the major market players. Companies have adopted this strategy to expand their service offerings and venture into new markets. For instance, in March 2016, Thales Transportation Systems entered into an agreement with Rotterdamse Elektrische Tram, a public transport company in the region of Rotterdam, to implement and maintain the public transport chip card equipment for the metro line, Hoekse Line.

General Electric Company has adopted a strategic mix of organic and inorganic growth strategies, such as partnerships & collaborations, mergers & acquisitions, and business expansions. In December 2016, GE acquired Iders Incorporated, an electronic product design and manufacturing resource that focuses on rail products, contract Product Development Services (PDS), and contract Electronic Manufacturing Services (EMS).

Similarly, in November 2016, TomTom International B.V. partnered with the City of Amsterdam, the Netherlands, to improve traffic flow and parking in the Dutch capital. TomTom developed new ways to measure traffic flow and understand the parking behavior to formulate a city plan.

Related Reports:

Smart Transportation Market by Solution Type (Smart Ticketing, Parking Management, Passenger Information, Traffic Management, Integrated Supervision, and Insurance Telematics), Service, and Region - Global Forecast to 2021

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