The report of Global Transportation for Smart Cities Market by Technology (Cloud, Sensors, Data communications, and Mobility), by Transportation (Metro, Bus rapid transit system (BRTS) and Monorail), by Service (Hardware and Software) and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ XX Bn. by 2027, at a CAGR of 18.45 % during a forecast period.
The MMR report contains a detailed study of factors that will drive and restrain the growth of the Transportation for Smart Cities market.The major factors which drives the transportation for smart cities include rising need among transport authorities to create a system to manage traffic and improve safety of road and passengers. The development of advanced technology such as Internet of things (IoT), also rapid advancement in Information and communication including the cloud, development in data communication, sensors, and fibers is anticipated to drive the transportation for smart cities market throughout the forecast period. Growing urbanization and industrialization and rising the need of better-quality life are driving the market growth. In addition, by the support and initiative taken by the government of several nations across the globe in order to improve the transportation and infrastructure in smart cities is expected to fuel the growth of the market.
Europe is estimated to be the dominant region in the Transportation for Smart Cities Market
Europe is dominating the global transportation for smart cities market during the forecast period. A large number of end project being undertaken in this region. Government support and investment of a large amount of revenue for improving the infrastructure for the transportation is contributing to market growth in this region. Large amount of revenue is invested in IT and telecommunication sector in this region. High adoption rate of advanced technology such as IoT, implementation of AI technology in smart cities for improving the transportation service is also contributing to market growth.
Key players operating in the Transportation for Smart Cities Market includeSiemens AG, Huawei Holding Co., Ltd., Cisco Systems, Avail Technologies Inc., IBM Corporation, Microsoft Corporation, Thales Group, Oracle Corporation, TomTom International Inc., Schneider Electric, WS Atkins PLC, Ericsson, Agero Inc.,Hitachi Ltd., Toshiba Corporation, Accenture Plcand other key players.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about theTransportation for Smart Cities Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamic and future opportunities that might exist in theTransportation for Smart Cities Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explainTransportation for Smart CitiesMarket positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Transportation for Smart CitiesMarket.”
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