North America Smart Transportation Market Outlook, 2029
The North America Smart Transportation Market is segmented into By Solution (Traffic Management System, Ticketing Management System, Parking Management and Guidance System, Integrated Supervision System), By Transportation Mode (Roadway, Railway, Airway, Maritime), By Services (Business, Professional, Cloud Services), By Application (Mobility as a Service, Route Information and Route Guidance, Public Transport, Transit Hubs, Connected Cars, Video Management, Other Applications)
- Bonafide Research
- 29-02-2024
- Pages : 88
- Figures : 12
- Tables : 21
- Region : North America
- Category : IT & Telecommunications
- Telecommunications & Networks
The North America Smart Transportation Market was valued above USD 20 Billion in 2023 due to urbanization and government investments in smart city initiatives
- Historical Period2018-2022
- Base Year2023
- Forecast Period2024-2029
- Market Size (2023) USD 20 Billion
- Largest Market United States
- Fastest Market Canada
- Format
Featured Companies
- 1. Toshiba Corporation
- 2. Cisco Systems Inc.
- 3. Robert Bosch GmbH
- 4. Sap SE
- 5. Huawei Technologies Co.Ltd
- 6. Schneider Electric
- More...
Smart Transportation Market Analysis
North America has been a pioneer in the development and deployment of intelligent transportation systems (ITS). The region has implemented various technologies, such as traffic signal control systems, electronic toll collection, and dynamic message signs, to improve traffic flow, enhance safety, and reduce congestion on roadways. North America, particularly the United States, has witnessed rapid growth in ride-sharing and mobility services. Companies like Uber, Lyft, and Via have revolutionised urban transportation, offering convenient, on-demand mobility options that complement traditional modes of transportation such as public transit and personal vehicles. Furthermore, North America is playing a key role in electric vehicle adoption, with several states and provinces offering incentives and infrastructure support to encourage EV uptake. The region is home to prominent EV manufacturers like Tesla, and initiatives such as the Zero Emission Vehicle (ZEV) mandate in California are driving the transition towards cleaner and more sustainable transportation options. Many cities across North America are implementing smart city initiatives that incorporate smart transportation solutions. These initiatives aim to leverage technology to improve transportation efficiency, reduce emissions, enhance public safety, and create more livable urban environments. Furthermore, North America is at the forefront of developing and testing autonomous vehicle (AV) technologies. Companies like Waymo, Cruise, and Aurora are conducting extensive testing of AVs on public roads in various cities across the United States and Canada, with the potential to revolutionise the future of transportation. As well, there is a growing emphasis on sustainable and multimodal transportation solutions in North America. Cities are investing in bike lanes, pedestrian-friendly infrastructure, and public transit enhancements to provide residents with diverse and environmentally friendly transportation options. According to the research report "North America Smart Transportation Market Outlook, 2029," published by Bonafide Research, the North America Smart Transportation Market was valued at more than USD 20 Billion in 2023. North America is home to highly crowd urban areas with heavy traffic, protracted commutes, and a scarcity of parking spots. The desire to ease traffic, shorten travel times, and boost mobility in metropolitan areas where conventional transportation systems are under pressure is what is driving the need for smart transportation solutions. North America is a hub for technological innovation, with leading companies and research institutions driving advancements in areas such as artificial intelligence, the Internet of Things (IoT), and data analytics. The region's strong innovation ecosystem fuels the development and adoption of smart transportation technologies, including connected vehicles, intelligent transportation systems, and mobility-as-a-service platforms. In North America, people are becoming more conscious of environmental problems such as air pollution, greenhouse gas emissions, and climate change. As politicians and consumers place a higher priority on environmental stewardship and sustainability, smart mobility options, including electric cars, bike-sharing programmes, and sustainable urban design efforts, are becoming more common. Furthermore, governments at the federal, state, and local levels in North America are investing in smart transportation initiatives to address urban mobility challenges, reduce congestion, and improve transportation efficiency. Funding programmes, grants, and incentives support the deployment of smart transportation technologies and infrastructure projects, driving demand for innovative solutions.
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Download SampleMarket Dynamic
Major Drivers • Urbanisation and Population Growth: The increasing urbanisation and population growth in North America are leading to a higher demand for efficient transportation solutions. Smart transportation systems are essential for managing the growing mobility needs of urban populations, reducing congestion, and improving the overall quality of transportation services. • Traffic Congestion: Traffic congestion is a significant challenge in many North American cities, resulting in wasted time, fuel consumption, and environmental pollution. Smart transportation technologies such as intelligent traffic management systems, dynamic routing, and congestion pricing help alleviate congestion by optimising traffic flow, reducing travel times, and improving the efficiency of transportation networks. Major Challenges • Interoperability Issues: Integrating diverse transportation systems and technologies to create a seamless smart transportation network can be challenging due to interoperability issues. Different systems use proprietary standards, protocols, or data formats, making it difficult to exchange information and coordinate operations across different modes of transport and jurisdictions. • User Acceptance and Behaviour Change: Encouraging user acceptance and behaviour change is essential for the success of smart transportation initiatives. While smart technologies offer potential benefits such as improved convenience, safety, and efficiency, users are reluctant to adopt new modes of transport or change their travel behavior. Education, outreach, and incentives are needed to promote the adoption of smart transportation solutions and encourage sustainable travel choices.
Smart Transportation Segmentation
| By Solution | Traffic Management System | |
| Ticketing Management System | ||
| Parking Management and Guidance System | ||
| Integrated Supervision System | ||
| By Transportation Mode | Roadway | |
| Railway | ||
| Airway | ||
| Maritime | ||
| By Services | Business | |
| Professional | ||
| Cloud Services | ||
| By Application | Mobility as a Service | |
| Route Information and Route Guidance | ||
| Public Transport | ||
| Transit Hubs | ||
| Connected Cars | ||
| Video Management | ||
| Other Applications | ||
| North America | United States | |
| Canada | ||
| Mexico | ||
Based on the solution types, they are segmented into the Traffic Management System, Ticketing Management System, Parking Management and Guidance System, and Integrated Supervision System. Furthermore, in terms of transportation modes, they are segmented into road, railway, airway, and maritime. In North America, the Traffic Management System leads the market; the expansion of smart city projects, the development of adaptive traffic controls and analytics, the effectiveness of transport systems, rising economic productivity, and encouraging government measures to build traffic infrastructure are all responsible for the increase. North America, home to Silicon Valley and other tech hubs, is a hotbed for technological innovation. Companies in the region continually develop cutting-edge solutions for traffic management, leveraging advancements in artificial intelligence, machine learning, IoT, and data analytics to improve transportation efficiency and safety. North American governments and private entities invest heavily in transportation infrastructure, including roads, bridges, and smart transportation systems. This commitment to infrastructure development creates opportunities for the implementation of advanced traffic management solutions. Many cities in North America are densely populated, leading to increased traffic congestion and the need for effective traffic management systems. As urbanisation continues to grow, there is a greater demand for smart transportation solutions to alleviate congestion, reduce emissions, and enhance mobility. Furthermore, North America has been an early adopter of smart transportation technologies, contributing to the region's market maturity and leadership. The presence of established players and a strong ecosystem of suppliers and service providers further solidifies North America's position at the forefront of the smart transportation market. Furthermore, the road contributes the highest market share. North America has a well-developed roadway infrastructure, including highways, roads, and bridges, which form the backbone of transportation networks. As a result, there is a significant emphasis on optimising and modernising roadways through smart transportation technologies to improve efficiency, safety, and sustainability. Many urban areas in North America experience high levels of traffic congestion due to population growth and urbanization. Roadway transportation remains the primary mode of travel for commuters and freight, making it a priority to implement smart transportation solutions to alleviate congestion and enhance mobility. According to the report, the services are divided into business, professional, and cloud services. In the region where professionals contribute the most, North America boasts a highly skilled workforce with expertise in various fields related to smart transportation, including urban planning, civil engineering, data analytics, software development, and system integration. Professional services providers leverage their specialised knowledge to design, implement, and optimise smart transportation solutions tailored to the unique needs of different regions and municipalities. The smart transportation ecosystem comprises a diverse array of technologies, systems, and stakeholders. Professional services providers play a crucial role in integrating disparate systems, ensuring interoperability, and optimising the performance of interconnected transportation infrastructure elements such as traffic signals, sensors, cameras, and communication networks.
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Smart Transportation Market Regional Insights
Based on the report, the major countries covered include the USA, Canada, Mexico, and the rest of North America. In North America, the USA leads the market. The USA is home to some of the world's most innovative technology companies, research institutions, and startups. Silicon Valley, in particular, serves as a global hub for technological innovation, fostering the development of cutting-edge solutions in areas such as artificial intelligence, data analytics, the Internet of Things (IoT), and autonomous vehicles. This culture of innovation drives the advancement of smart transportation technologies and solutions in the USA. Furthermore, the USA has a long history of investing in transportation infrastructure, including roads, bridges, public transit systems, and intelligent transportation systems (ITS). Government agencies at the federal, state, and local levels allocate significant funds towards the modernization and expansion of transportation infrastructure, creating opportunities for the integration of smart technologies to improve efficiency, safety, and sustainability. The USA has established regulatory frameworks and standards to support the development and deployment of smart transportation technologies. Agencies such as the National Highway Traffic Safety Administration (NHTSA) and the Federal Highway Administration (FHWA) provide guidance, funding, and incentives to encourage innovation and the adoption of intelligent transportation systems nationwide. The USA has a vibrant entrepreneurial culture that encourages innovation and risk-taking in the transportation sector. Start-ups and entrepreneurial ventures focused on smart transportation technologies, mobility solutions, and related services thrive in cities like San Francisco, New York, and Boston, contributing to the dynamism and growth of the market.
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Companies Mentioned
- Toshiba Corporation
- Cisco Systems Inc.
- Robert Bosch GmbH
- Sap SE
- Huawei Technologies Co.Ltd
- Schneider Electric
- Siemens AG
- IBM Corporation
- Thales Group
- TomTom N.V.
- Alstom SA
- Cubic Corporation
Table of Contents
- 1. Executive Summary
- 2. Research Methodology
- 2.1. Secondary Research
- 2.2. Primary Data Collection
- 2.3. Market Formation & Validation
- 2.4. Report Writing, Quality Check & Delivery
- 3. Market Structure
- 3.1. Market Considerate
- 3.2. Assumptions
- 3.3. Limitations
- 3.4. Abbreviations
- 3.5. Sources
- 3.6. Definitions
- 4. Economic /Demographic Snapshot
- 5. Global Smart Transportation Market Outlook
- 5.1. Market Size By Value
- 5.2. Market Share By Region
- 5.3. Market Size and Forecast, By Solution
- 5.4. Market Size and Forecast, By Transportation Mode
- 5.5. Market Size and Forecast, By Services
- 5.6. Market Size and Forecast, By Application
- 6. North America Smart Transportation Market Outlook
- 6.1. Market Size By Value
- 6.2. Market Share By Country
- 6.3. Market Size and Forecast, By Solution
- 6.4. Market Size and Forecast, By Transportation Mode
- 6.5. Market Size and Forecast, By Services
- 7. Market Dynamics
- 7.1. Market Drivers & Opportunities
- 7.2. Market Restraints & Challenges
- 7.3. Market Trends
- 7.3.1. XXXX
- 7.3.2. XXXX
- 7.3.3. XXXX
- 7.3.4. XXXX
- 7.3.5. XXXX
- 7.4. Covid-19 Effect
- 7.5. Supply chain Analysis
- 7.6. Policy & Regulatory Framework
- 7.7. Industry Experts Views
- 7.8. United States Smart Transportation Market Outlook
- 7.8.1. Market Size By Value
- 7.8.2. Market Size and Forecast By Solution
- 7.8.3. Market Size and Forecast By Transportation Mode
- 7.8.4. Market Size and Forecast By Services
- 7.9. Canada Smart Transportation Market Outlook
- 7.9.1. Market Size By Value
- 7.9.2. Market Size and Forecast By Solution
- 7.9.3. Market Size and Forecast By Transportation Mode
- 7.9.4. Market Size and Forecast By Services
- 7.10. Mexico Smart Transportation Market Outlook
- 7.10.1. Market Size By Value
- 7.10.2. Market Size and Forecast By Solution
- 7.10.3. Market Size and Forecast By Transportation Mode
- 7.10.4. Market Size and Forecast By Services
- 8. Competitive Landscape
- 8.1. Competitive Dashboard
- 8.2. Business Strategies Adopted by Key Players
- 8.3. Key Players Market Positioning Matrix
- 8.4. Porter's Five Forces
- 8.5. Company Profile
- 8.5.1. Company Alstom SA
- 8.5.1.1. Company Snapshot
- 8.5.1.2. Company Overview
- 8.5.1.3. Financial Highlights
- 8.5.1.4. Geographic Insights
- 8.5.1.5. Business Segment & Performance
- 8.5.1.6. Product Portfolio
- 8.5.1.7. Key Executives
- 8.5.1.8. Strategic Moves & Developments
- 8.5.2. Cisco Systems, Inc.
- 8.5.3. SAP SE
- 8.5.4. International Business Machines Corporation
- 8.5.5. Siemens AG
- 8.5.6. Robert Bosch GmbH
- 8.5.7. Schneider Electric SE
- 8.5.8. Thales Group
- 8.5.9. Cubic Corporation
- 8.5.10. TomTom N.V.
- 8.5.11. Toshiba Corporation
- 8.5.12. Huawei Technologies Co., Ltd.
- 9. Strategic Recommendations
- 10. Annexure
- 10.1. FAQ`s
- 10.2. Notes
- 10.3. Related Reports
- 11. Disclaimer
Table 2: Top 10 Counties Economic Snapshot 2022
Table 3: Economic Snapshot of Other Prominent Countries 2022
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Global Smart Transportation Market Size and Forecast, By Solution (2018 to 2029F) (In USD Million)
Table 6: Global Smart Transportation Market Size and Forecast, By Transportation Mode (2018 to 2029F) (In USD Million)
Table 7: Global Smart Transportation Market Size and Forecast, By Services (2018 to 2029F) (In USD Million)
Table 8: Global Smart Transportation Market Size and Forecast, By Application (2018 to 2029F) (In USD Million)
Table 9: North America Smart Transportation Market Size and Forecast, By Solution (2018 to 2029F) (In USD Million)
Table 10: North America Smart Transportation Market Size and Forecast, By Transportation Mode (2018 to 2029F) (In USD Million)
Table 11: North America Smart Transportation Market Size and Forecast, By Services (2018 to 2029F) (In USD Million)
Table 12: Influencing Factors for Smart Transportation Market, 2023
Table 13: United States Smart Transportation Market Size and Forecast By Solution (2018 to 2029F) (In USD Million)
Table 14: United States Smart Transportation Market Size and Forecast By Transportation Mode (2018 to 2029F) (In USD Million)
Table 15: United States Smart Transportation Market Size and Forecast By Services (2018 to 2029F) (In USD Million)
Table 16: Canada Smart Transportation Market Size and Forecast By Solution (2018 to 2029F) (In USD Million)
Table 17: Canada Smart Transportation Market Size and Forecast By Transportation Mode (2018 to 2029F) (In USD Million)
Table 18: Canada Smart Transportation Market Size and Forecast By Services (2018 to 2029F) (In USD Million)
Table 19: Mexico Smart Transportation Market Size and Forecast By Solution (2018 to 2029F) (In USD Million)
Table 20: Mexico Smart Transportation Market Size and Forecast By Transportation Mode (2018 to 2029F) (In USD Million)
Table 21: Mexico Smart Transportation Market Size and Forecast By Services (2018 to 2029F) (In USD Million)
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Smart Transportation Market Size By Value (2018, 2023 & 2029F) (in USD Million)
Figure 5: Global Smart Transportation Market Share By Region (2023)
Figure 6: North America Smart Transportation Market Size By Value (2018, 2023 & 2029F) (in USD Million)
Figure 7: North America Smart Transportation Market Share By Country (2023)
Figure 8: US Smart Transportation Market Size By Value (2018, 2023 & 2029F) (in USD Million)
Figure 9: Canada Smart Transportation Market Size By Value (2018, 2023 & 2029F) (in USD Million)
Figure 10: Mexico Smart Transportation Market Size By Value (2018, 2023 & 2029F) (in USD Million)
Figure 11: Competitive Dashboard of top 5 players, 2023
Figure 12: Porter's Five Forces of Global Smart Transportation Market
Smart Transportation Market Research FAQs
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