The North America Smart Transportation Market would witness market growth of 9.5% CAGR during the forecast period (2022-2028).
Smart transportation, often known as smart transportation, is a type of modern transportation infrastructure that strives to provide novel traffic and transportation management services. It can be used for parking management and guiding, passenger information, and traffic management, among other things. Smart transportation systems (ITS) are cutting-edge applications that deliver advanced transportation and traffic management services. Using technology like automobile navigation, speed cameras, traffic signal control systems, and other real-time data and computational technologies, it allows numerous users to be more coordinated and informed. Infrastructure upgrades, legislative requirements for sustainable fuels for public transportation vehicles, and the deployment of systems to efficiently supply mobility services to ever-expanding cities are all ways to attain this smart transportation information.
The Texas Transportation Commission approved a $1.3 billion plan in June 2016 to reduce vehicle congestion on the state's most congested highways, which is expected to promote transportation infrastructure modernization through 2021. These types of investments will fuel the demand for smart transportation.
In the United States, federal-state cooperation on policy direction and funding has increased, resulting in faster road testing and software development. In 2018, Pittsburgh, for example, piloted Smart traffic lights in 50 intersections throughout the city. Idling time was decreased by more than 40%, while travel time was lowered by about 25%. As a result, infrastructure expansion, notably in the United States.
Because of the rapid deployment of smart transportation solutions, which include features such as real-time traffic information, parking management systems, smart signaling systems, electronic toll collection, and real-time information for public transit systems, North America would be a key region for this market. For example, the US Department of Transportation invested $160 billion in smart city technologies in 2016. These projects aim to improve parking and traffic management solutions, hence generating demand for the smart transportation sector.
The US market dominated the North America Smart Transportation Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $41,794.5 million by 2028. The Canada market is poised to grow at a CAGR of 12% during (2022 - 2028). Additionally, The Mexico market would display a CAGR of 11% during (2022 - 2028).
Based on Component, the market is segmented into Solution (Traffic Management System, Parking Management & Guidance System, Ticketing Management System, and Integrated Supervision System) and Services (Business, Professional, and Cloud Services). Based on Transportation Type, the market is segmented into Roadways, Railways, Airways, and Maritime. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Cisco Systems, Inc., Accenture PLC, Cubic Corporation, ALSTOM Holdings, Siemens AG, Thales Group S.A., TomTom N.V., MSR-Traffic GmbH (MSR-Group GmbH), and Iteris, Inc.
Free Valuable Insights: The Global Smart Transportation Market is Estimated to reach $190.6 Billion by 2028, at a CAGR of 9.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Cisco Systems, Inc., Accenture PLC, Cubic Corporation, ALSTOM Holdings, Siemens AG, Thales Group S.A., TomTom N.V., MSR-Traffic GmbH (MSR-Group GmbH), and Iteris, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Solution
- Traffic Management System
- Parking Management & Guidance System
- Ticketing Management System
- Integrated Supervision System
- Services
- Business
- Professional
- Cloud Services
By Transportation Type
- Roadways
- Railways
- Airways
- Maritime
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Cisco Systems, Inc.
- Accenture PLC
- Cubic Corporation
- ALSTOM Holdings
- Siemens AG
- Thales Group S.A.
- TomTom N.V.
- MSR-Traffic GmbH (MSR-Group GmbH)
- Iteris, Inc.
Related Reports:
Global Smart Transportation Market Report 2022-2028
Europe Smart Transportation Market Report 2022-2028
Asia Pacific Smart Transportation Market Report 2022-2028
LAMEA Smart Transportation Market Report 2022-2028
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Smart Transportation Market, by Component
1.4.2 North America Smart Transportation Market, by Transportation Type
1.4.3 North America Smart Transportation Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2018, Sep – 2022, Apr) Leading Players
Chapter 4. North America Smart Transportation Market by Component
4.1 North America Solution Market by Country
4.2 North America Smart Transportation Market by Solution Type
4.2.1 North America Traffic Management System Market by Country
4.2.2 North America Parking Management & Guidance System Market by Country
4.2.3 North America Ticketing Management System Market by Country
4.2.4 North America Integrated Supervision System Market by Country
4.3 North America Services Market by Country
4.4 North America Smart Transportation Market by Services Type
4.4.1 North America Business Market by Country
4.4.2 North America Professional Market by Country
4.4.3 North America Cloud Services Market by Country
Chapter 5. North America Smart Transportation Market by Transportation Type
5.1 North America Roadways Market by Country
5.2 North America Railways Market by Country
5.3 North America Airways Market by Country
5.4 North America Maritime Market by Country
Chapter 6. North America Smart Transportation Market by Country
6.1 US Smart Transportation Market
6.1.1 US Smart Transportation Market by Component
6.1.1.1 US Smart Transportation Market by Solution Type
6.1.1.2 US Smart Transportation Market by Services Type
6.1.2 US Smart Transportation Market by Transportation Type
6.2 Canada Smart Transportation Market
6.2.1 Canada Smart Transportation Market, 2022 - 2028, USD Million
6.2.2 Canada Smart Transportation Market by Component
6.2.2.1 Canada Smart Transportation Market by Solution Type
6.2.2.2 Canada Smart Transportation Market by Services Type
6.2.3 Canada Smart Transportation Market by Transportation Type
6.3 Mexico Smart Transportation Market
6.3.1 Mexico Smart Transportation Market by Component
6.3.1.1 Mexico Smart Transportation Market by Solution Type
6.3.1.2 Mexico Smart Transportation Market by Services Type
6.3.2 Mexico Smart Transportation Market by Transportation Type
6.4 Rest of North America Smart Transportation Market
6.4.1 Rest of North America Smart Transportation Market by Component
6.4.1.1 Rest of North America Smart Transportation Market by Solution Type
6.4.1.2 Rest of North America Smart Transportation Market by Services Type
6.4.2 Rest of North America Smart Transportation Market by Transportation Type
Chapter 7. Company Profiles
7.1 IBM Corporation
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional & Segmental Analysis
7.1.4 Research & Development Expenses
7.2 Cisco Systems, Inc.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Regional Analysis
7.2.4 Research & Development Expense
7.2.5 Recent strategies and developments:
7.2.5.1 Partnerships, Collaborations and Agreements:
7.3 Accenture PLC
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expenses
7.3.5 Recent strategies and developments:
7.3.5.1 Acquisition and Mergers:
7.3.6 SWOT Analysis
7.4 Cubic Corporation
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research and Development Expense
7.4.5 Recent strategies and developments:
7.4.5.1 Partnerships, Collaborations, and Agreements:
7.4.5.2 Acquisition and Mergers:
7.5 ALSTOM Holdings
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expenses
7.5.5 Recent strategies and developments:
7.5.5.1 Partnerships, Collaborations and Agreements:
7.5.5.2 Acquisition and Mergers:
7.6 Siemens AG
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expense
7.6.5 Recent strategies and developments:
7.6.5.1 Partnerships, Collaborations, and Agreements:
7.6.5.2 Acquisition and Mergers:
7.6.6 SWOT Analysis
7.7 Thales Group S.A.
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research and Development Expense
7.7.5 Recent strategies and developments:
7.7.5.1 Partnerships, Collaborations, and Agreements:
7.7.5.2 Product Launches and Product Expansions:
7.8 TomTom N.V.
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Research & Development Expense
7.8.5 Recent strategies and developments:
7.8.5.1 Partnerships, Collaborations, and Agreements:
7.8.6 SWOT Analysis
7.9 MSR-Traffic GmbH (MSR-Group GmbH)
7.9.1 Company Overview
7.10. Iteris, Inc.
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
7.10.4 Research & Development Expenses
7.10.5 Recent strategies and developments:
7.10.5.1 Partnerships, Collaborations, and Agreements:
7.10.5.2 Product Launches and Product Expansions:
7.10.5.3 Acquisition and Mergers:
TABLE 1 North America Smart Transportation Market, 2018 - 2021, USD Million
TABLE 2 North America Smart Transportation Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements – Smart Transportation Market
TABLE 4 Product Launches And Product Expansions – Smart Transportation Market
TABLE 5 Acquisition and Mergers – Smart Transportation Market
TABLE 6 North America Smart Transportation Market by Component, 2018 - 2021, USD Million
TABLE 7 North America Smart Transportation Market by Component, 2022 - 2028, USD Million
TABLE 8 North America Solution Market by Country, 2018 - 2021, USD Million
TABLE 9 North America Solution Market by Country, 2022 - 2028, USD Million
TABLE 10 North America Smart Transportation Market by Solution Type, 2018 - 2021, USD Million
TABLE 11 North America Smart Transportation Market by Solution Type, 2022 - 2028, USD Million
TABLE 12 North America Traffic Management System Market by Country, 2018 - 2021, USD Million
TABLE 13 North America Traffic Management System Market by Country, 2022 - 2028, USD Million
TABLE 14 North America Parking Management & Guidance System Market by Country, 2018 - 2021, USD Million
TABLE 15 North America Parking Management & Guidance System Market by Country, 2022 - 2028, USD Million
TABLE 16 North America Ticketing Management System Market by Country, 2018 - 2021, USD Million
TABLE 17 North America Ticketing Management System Market by Country, 2022 - 2028, USD Million
TABLE 18 North America Integrated Supervision System Market by Country, 2018 - 2021, USD Million
TABLE 19 North America Integrated Supervision System Market by Country, 2022 - 2028, USD Million
TABLE 20 North America Services Market by Country, 2018 - 2021, USD Million
TABLE 21 North America Services Market by Country, 2022 - 2028, USD Million
TABLE 22 North America Smart Transportation Market by Services Type, 2018 - 2021, USD Million
TABLE 23 North America Smart Transportation Market by Services Type, 2022 - 2028, USD Million
TABLE 24 North America Business Market by Country, 2018 - 2021, USD Million
TABLE 25 North America Business Market by Country, 2022 - 2028, USD Million
TABLE 26 North America Professional Market by Country, 2018 - 2021, USD Million
TABLE 27 North America Professional Market by Country, 2022 - 2028, USD Million
TABLE 28 North America Cloud Services Market by Country, 2018 - 2021, USD Million
TABLE 29 North America Cloud Services Market by Country, 2022 - 2028, USD Million
TABLE 30 North America Smart Transportation Market by Transportation Type, 2018 - 2021, USD Million
TABLE 31 North America Smart Transportation Market by Transportation Type, 2022 - 2028, USD Million
TABLE 32 North America Roadways Market by Country, 2018 - 2021, USD Million
TABLE 33 North America Roadways Market by Country, 2022 - 2028, USD Million
TABLE 34 North America Railways Market by Country, 2018 - 2021, USD Million
TABLE 35 North America Railways Market by Country, 2022 - 2028, USD Million
TABLE 36 North America Airways Market by Country, 2018 - 2021, USD Million
TABLE 37 North America Airways Market by Country, 2022 - 2028, USD Million
TABLE 38 North America Maritime Market by Country, 2018 - 2021, USD Million
TABLE 39 North America Maritime Market by Country, 2022 - 2028, USD Million
TABLE 40 North America Smart Transportation Market by Country, 2018 - 2021, USD Million
TABLE 41 North America Smart Transportation Market by Country, 2022 - 2028, USD Million
TABLE 42 US Smart Transportation Market, 2018 - 2021, USD Million
TABLE 43 US Smart Transportation Market, 2022 - 2028, USD Million
TABLE 44 US Smart Transportation Market by Component, 2018 - 2021, USD Million
TABLE 45 US Smart Transportation Market by Component, 2022 - 2028, USD Million
TABLE 46 US Smart Transportation Market by Solution Type, 2018 - 2021, USD Million
TABLE 47 US Smart Transportation Market by Solution Type, 2022 - 2028, USD Million
TABLE 48 US Smart Transportation Market by Services Type, 2018 - 2021, USD Million
TABLE 49 US Smart Transportation Market by Services Type, 2022 - 2028, USD Million
TABLE 50 US Smart Transportation Market by Transportation Type, 2018 - 2021, USD Million
TABLE 51 US Smart Transportation Market by Transportation Type, 2022 - 2028, USD Million
TABLE 52 Canada Smart Transportation Market, 2018 - 2021, USD Million
TABLE 53 Canada Smart Transportation Market by Component, 2018 - 2021, USD Million
TABLE 54 Canada Smart Transportation Market by Component, 2022 - 2028, USD Million
TABLE 55 Canada Smart Transportation Market by Solution Type, 2018 - 2021, USD Million
TABLE 56 Canada Smart Transportation Market by Solution Type, 2022 - 2028, USD Million
TABLE 57 Canada Smart Transportation Market by Services Type, 2018 - 2021, USD Million
TABLE 58 Canada Smart Transportation Market by Services Type, 2022 - 2028, USD Million
TABLE 59 Canada Smart Transportation Market by Transportation Type, 2018 - 2021, USD Million
TABLE 60 Canada Smart Transportation Market by Transportation Type, 2022 - 2028, USD Million
TABLE 61 Mexico Smart Transportation Market, 2018 - 2021, USD Million
TABLE 62 Mexico Smart Transportation Market, 2022 - 2028, USD Million
TABLE 63 Mexico Smart Transportation Market by Component, 2018 - 2021, USD Million
TABLE 64 Mexico Smart Transportation Market by Component, 2022 - 2028, USD Million
TABLE 65 Mexico Smart Transportation Market by Solution Type, 2018 - 2021, USD Million
TABLE 66 Mexico Smart Transportation Market by Solution Type, 2022 - 2028, USD Million
TABLE 67 Mexico Smart Transportation Market by Services Type, 2018 - 2021, USD Million
TABLE 68 Mexico Smart Transportation Market by Services Type, 2022 - 2028, USD Million
TABLE 69 Mexico Smart Transportation Market by Transportation Type, 2018 - 2021, USD Million
TABLE 70 Mexico Smart Transportation Market by Transportation Type, 2022 - 2028, USD Million
TABLE 71 Rest of North America Smart Transportation Market, 2018 - 2021, USD Million
TABLE 72 Rest of North America Smart Transportation Market, 2022 - 2028, USD Million
TABLE 73 Rest of North America Smart Transportation Market by Component, 2018 - 2021, USD Million
TABLE 74 Rest of North America Smart Transportation Market by Component, 2022 - 2028, USD Million
TABLE 75 Rest of North America Smart Transportation Market by Solution Type, 2018 - 2021, USD Million
TABLE 76 Rest of North America Smart Transportation Market by Solution Type, 2022 - 2028, USD Million
TABLE 77 Rest of North America Smart Transportation Market by Services Type, 2018 - 2021, USD Million
TABLE 78 Rest of North America Smart Transportation Market by Services Type, 2022 - 2028, USD Million
TABLE 79 Rest of North America Smart Transportation Market by Transportation Type, 2018 - 2021, USD Million
TABLE 80 Rest of North America Smart Transportation Market by Transportation Type, 2022 - 2028, USD Million
TABLE 81 Key information – IBM Corporation
TABLE 82 Key Information – Cisco Systems, Inc.
TABLE 83 Key information – Accenture PLC
TABLE 84 Key Information – Cubic Corporation
TABLE 85 Key Information – ALSTOM Holdings
TABLE 86 Key Information – Siemens AG
TABLE 87 key information – Thales Group S.A.
TABLE 88 Key information – TomTom N.V.
TABLE 89 Key Information – MSR-Traffic GmbH
TABLE 90 Key Information – ITERIS, INC.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2018, Sep – 2022, Apr) Leading Players
FIG 5 Swot analysis: Accenture plc
FIG 6 Recent strategies and developments: Cubic Corporation
FIG 7 Recent strategies and developments: ALSTOM Holdings
FIG 8 Recent strategies and developments: Siemens AG
FIG 9 Swot analysis: Siemens AG
FIG 10 Recent strategies and developments: Thales Group S.A.
FIG 11 SWOT Analysis: TomTom N.V.
FIG 12 Recent strategies and developments: Iteris, Inc.