The modern transportation system aids in acquiring descriptive and predictive knowledge and decisions for improving current solution and applications related to the transportation industry to outwit the future challenges. The congestion is a vital problem, which is resulting from the hyper-urbanization and globalization that has created a need for the efficient transportation system market. The other problem in the transportation and logistics system is the disequilibrium between supply and demand: transportation infrastructure grows faster than the demand, e.g., cars are built more quickly than roads; cities grow faster than the commuting infrastructures connecting them such as highways.
Transportation solutions such as analytics, and advanced transportation control system are helping in the enhancement of mobility, reduced fuel consumption and emissions, improved safety, and strengthened economic competitiveness for investors, making a big market in the U.S., Europe (EU), and Asia Pacific (APAC) regions. Key players who are providing solutions related to the transportation system market includes IBM, Siemens Mobility, Thales, Oracle, Transdyn, Garmin, Image Sensing Systems, Inc., INRIX, Inc, Honeywell, and Xerox. There are a few players who fall under the category of key innovators which includes LeddarTech, Inc., Moxa, NovAtel, Decawave, and Emkay.
In 2013, North American market is expected to project the largest market opportunity for transportation system solutions, applications, and products, at an estimated market share of 35.0% of the overall market. America and APAC together are estimated to account for 61.0% of the global market by 2013.
According to the announcements of findings, the global market for the transportation analytics and system market is expected to grow from $28.09 billion in 2013 to $57.46 billion in 2018, at a Compound Annual Growth Rate (CAGR) of 15.4% from 2013 to 2018. In the current scenario, roadway vertical continues to be the largest user for transportation solutions, applications, and products followed by railways and airways. In terms of regions, North America (NA) is expected to be the biggest market in terms of revenue contribution, while EU and APAC is expected to experience increased market traction, in due course.
Transportation Systems and Analytics Market [ by Transportation Management, Transportation Control Systems, by Analytics (Traffic, Video, GIS, Predictive, Fleet), Ticketing Management, Remote Sensing, Electronic Access, Display] - Worldwide Market Forecasts and Analysis (2013 - 2018)
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