This research study involved extensive secondary sources, directories, and databases, such as Dun & Bradstreet (D&B) Hoovers and Bloomberg BusinessWeek, to identify and collect valuable information for a technical, market-oriented, and commercial study of the Smart Transportation market. The primary sources have been mainly industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, service providers, technology developers, alliances, and organizations related to all segments of the value chain of this market. In-depth interviews have been conducted with primary respondents, including key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information.
Secondary Research
The market size of companies across the globe offering WCM products was arrived at based on the secondary data available through paid and unpaid sources. It was also arrived at by analyzing the product portfolios of major companies and rating companies based on their performance and quality.
In the secondary research process, various secondary sources were referred to identify and collect information for the study. The secondary sources included annual reports, press releases, investor presentations of companies, white papers, certified publications, and articles from recognized associations and government publishing sources. Several journals and associations, such as 27th IEEE International Conference on Intelligent Transportation Systems (IEEE ITSC 2024) and ICTA 2024: 9th International Conference on Sustainable Transportation & Smart Innovations were also referred to. Secondary research was used to obtain key information about industry insights, the market’s monetary chain, the overall pool of key players, market classification and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from both the market and technology-oriented perspectives.
Primary Research
In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for the report. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Chief Technology Officers (CTOs), Chief Operating Officers (COOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the Smart Transportation market. The primary sources from the demand side included Smart Transportation end users, consultants/specialists, Chief Information Officers (CIOs), and subject-matter experts from enterprises and government associations.
*Others include sales managers, marketing managers, and product managers.
Note: Tier 1 companies’ revenue is more than USD 1 billion; Tier 2 companies ‘revenue ranges between USD 500 million to 1 billion; and Tier 3
companies’ revenue ranges in between USD 100 million and USD 500 million
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Multiple approaches were adopted to estimate and forecast the size of the Smart Transportation market. The first approach involves estimating market size by summing up the revenue generated by companies through the sale of Smart Transportation.
Both top-down and bottom-up approaches were used to estimate and validate the total size of the Smart Transportation market. These methods were extensively used to estimate the size of various segments in the market. The research methodology used to estimate the market size includes the following:
-
Key players in the market have been identified through extensive secondary research.
-
In terms of value, the industry’s supply chain and market size have been determined through primary and secondary research processes.
-
All percentage shares, splits, and breakups have been determined using secondary sources and verified through primary sources.
Smart Transportation Market : Top-Down and Bottom-Up Approach
Data Triangulation
After arriving at the overall market size, the Smart Transportation market was divided into several segments and subsegments. A data triangulation procedure was used to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with data triangulation and market breakdown, the market size was validated by the top-down and bottom-up approaches.
Market Definition
Smart Transportation refers to an advanced transportation system that integrates technology, data, and innovation to improve the efficiency, safety, accessibility, and sustainability of all modes of transport such as roadways, railways, maritime, and airways. Smart Transportation refers to an Information and Communication Technology (ICT) driven framework designed to optimize the efficiency, safety, and sustainability of transportation systems across all modes such as road, rail, air, water, and urban transit. It integrates advanced technologies such as IoT, AI, cloud computing, big data analytics, and intelligent communication networks to enhance the movement of people and goods through data-driven decision-making and automation.
With the advancement of disruptive technologies, such as Artificial Intelligence (AI)/Machine Learning (ML), Internet of Things (IoT), big data and analytics, and others aim to provide innovative services relating to different modes of transportation and traffic management and enable users to be better informed and make safer and smarter use of transportation networks.
Stakeholders
-
Transportation service providers
-
Solution vendors
-
Networking and communication service providers
-
Original Equipment Manufacturers (OEMs)
-
Transportation agencies
-
Public transportation departments
-
Managed Service Providers (MSPs)
-
System integrators
-
Consultancy firms/advisory firms
-
Investors and venture capitalists
-
Independent software vendors
-
Value-Added Resellers (VARs) and distributors
-
Governments and urban planning agencies
-
Rail infrastructure suppliers
-
Railway management companies (private/public)
-
Shipping operators
-
Maritime technology vendors
-
Airport authorities
-
Airport technology vendors
-
Transport operators
-
Transport infrastructure planners
Report Objectives
-
To determine and forecast the global smart transportation market by transportation mode (roadways, railways, airways, maritime), solutions, services, end-user and region from 2023 to 2029, and analyze the various macroeconomic and microeconomic factors that affect the market growth
-
To forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa (MEA)
-
To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
-
To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall market
-
To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the smart transportation market
-
To profile the key market players; provide a comparative analysis on the basis of business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the competitive landscape of the market
-
To track and analyze competitive developments, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities, in the market
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Country-wise information
-
Analysis for additional countries (up to five)
Company Information
-
Detailed analysis and profiling of additional market players (up to 5)
mithun
Jun, 2013
Need a market intelligence report for Parking management in GCC region.
Marlon
Mar, 2019
Understand the market dynamics on Public Transportation sector.