HOME Research Insight IBM (US) and Cisco Systems are leading players in Smart Transportation Market

IBM (US) and Cisco Systems are leading players in Smart Transportation Market

The smart transportation market is expected to grow from USD 75.00 billion in 2018 to USD 149.21 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period. Some of the major factors expected to drive the growth of the smart transportation market include the rising urban population and high demographic rates, the growing adoption of connected and smart technologies in the transportation infrastructure, and the increasing free trade agreements. Furthermore, government initiatives for smart cities and government authorities are adopting Public Private Partnerships (PPP) working models, which is also propelling the growth of the smart transportation market.

Companies such as IBM (US), Cisco Systems (US), Siemens (Germany), Thales Group (France), and Huawei (China) offer smart transportation solutions and services for different industry verticals. These players have adopted various growth strategies, such as collaborations, partnerships, acquisitions, and new product launches and enhancements, to strengthen their position in the market. Partnerships, collaborations, and agreements account for more than half of the share of the total growth strategies adopted by these leading players from February 2016 to July 2018.

To know the Insights download the pdf brochure

IBM (US) is one of the leading vendors of the smart transportation market. IBM is strategically focused on strengthening its capabilities toward smart planet innovations and technologies. The company plans to tie-up with the urban administrations and authorities for large-scale implementation of IBM smart cities solution. Currently, IBM is working toward enhancing its market share and presence with the help of the growth strategies, such as partnerships, collaborations, and business expansions, in various regions across the globe. For instance, in January 2018, IBM partnered with the Port of Rotterdam, Europe’s largest port, to build a long-term digitalization strategy that would transform the operation of the port and lay the foundation for autonomous ships using cloud-based Internet of Things (IoT), Artificial Intelligence (AI), and smart weather data. In February 2017, IBM opened a new global headquarters for Watson IoT in Munich, Germany. Several technological giants would work with IBM to identify opportunities by using the data from IoT sensors to program machine learning and other AI systems for making smart decisions.

Cisco Systems, an established company in the market, has majorly adopted inorganic growth strategies to diversify its product offerings with the help of innovative technologies. In line with its inorganic growth strategies, in September 2017, Cisco Systems, ScotRail, CGI, Network Rail Telecoms, and Wittos collaborated with Innovate UK and RSSB funded proof-of-concept to enable Super-Fast Wi-Fi on Trains (Project SWIFT). In October 2015, Cisco Systems opened an innovation center in France to promote and provide innovative solutions for smart cities. The innovation center aimed to promote its Internet of Everything (IoE) and AI.

Related Reports:

Smart Transportation Market by Transportation Mode (Roadways, Railways, Airways, and Maritime), Solution (Smart Ticketing, Traffic and Freight Management, PIS), Service, Application (Shared Mobility, Public Transport), and Region - Global Forecast to 2023

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support

US : 1-888-600-6441

Search reports