“Comprehensive Report Highlights Latest Advances, Market Dynamics, and Practical Applications in Smart Transportation for Urban and Industrial Use”
BOSTON, April 2, 2025 /PRNewswire/ — According to the latest study from BCC Research, “Smart Transportation: Technologies and Markets” is expected to grow from $181.7 billion in 2024 to $484.5 billion by the end of 2029 at a compound annual growth rate (CAGR) of 21.7% from 2024 through 2029.
The smart transportation market focuses on technology offerings across roadways, airways, railways, and maritime systems. It highlights solutions such as traffic management, vehicle telematics, smart ticketing, and port operations management. The report covers services such as consulting, deployment, integration, and maintenance, which are crucial for implementing these technologies. It also analyzes the market regions of North America, Europe, Asia-Pacific, and the Rest of the World.
The smart transportation market is undergoing significant advances, with innovations enhancing its applications across multiple sectors. With a growing emphasis on sustainable urban mobility and the need for customized, scalable solutions, stakeholders must stay informed on developments in smart transportation to capitalize on emerging opportunities and stay competitive in an evolving landscape.
The factors driving the market include:
Cost Efficiency: Smart transportation reduces fuel consumption and operational costs through technologies such as intelligent traffic management and optimized routing.
Urbanization Challenges: As cities grow, smart solutions such as integrated public transit and smart parking help manage congestion and pollution, making urban mobility more efficient.
Safety and Security: Advanced systems such as ADAS and automated emergency response enhance safety for passengers and pedestrians, preventing accidents and ensuring secure transit environments.
Request a sample copy of the global smart transportation market report.
Report Synopsis
Report Metric
Details
Base year considered
2023
Forecast period considered
2024-2029
Base year market size
$152.6 billion
Market size forecast
$484.5 billion
Growth rate
CAGR of 21.7% from 2024 to 2029
Segments covered
Transportation mode, roadway offerings, airway
offerings, railway offerings, maritime offerings
Regions covered
North America, Europe, Asia-Pacific, and the Rest of
World (Latin America, Middle East and Africa)
Market drivers
• Growing need for cost efficiency in transportation.
• Urbanization and transportation challenges in
expanding cities.
• Increased focus on safety and security.
Interesting facts:
Smart transportation is changing public transit with Mobility-as-a-Service (MaaS) models. These models combine ride-sharing, public transit, and other travel options for a smoother experience. For example, the city of Madrid uses MaaS to connect public and private transport, making city travel easier.5G networks are essential for real-time data in smart transportation, especially for connected and autonomous vehicles (CAVs). Areas with strong 5G networks, such as Asia-Pacific and parts of Europe, are seeing better traffic solutions. 5G also handles the vast amount of data from IoT devices and smart city systems.Roadway transportation accounts for over 40% of the market due to the need for integrated traffic management, advanced ticketing, smart parking, and real-time data analytics.
Emerging startups
OptibusSuperpedestrianBestmile
The report addresses the following questions:
What is the projected market size and growth rate?The market is projected to reach $484.5 billion by the end of 2029, growing at a CAGR of 21.7%.Which segments are covered in the report?Transportation mode, roadway offerings, airway offerings, railway offerings and maritime offerings.Which roadway offering will be dominant in the market in 2029?The solutions segment is expected to be dominant in the market in 2029.Which region has the largest share of the market?Europe holds the largest share of the global market.
Market leaders include:
AARAV SOLUTIONSADVANTECH CO. LTD.ALLIED TELESIS HOLDINGSALSTOM SAATOS SEAXIOMTEK CO. LTD.CISCO SYSTEMS INC.CONDUENT INC.HEXAGON ABHITACHI LTD.HUAWEI TECHNOLOGIES CO. LTD.IBM CORP.IEI INTEGRATION CORP.INTEL CORP.NEC CORP.SAP SESIEMENSTHALES
Related reports include:
Global IoT Testing Services Market: The report covers market trends, challenges, and companies. analyzing revenue by service type, testing type, end-user industry, and region (North America, Europe, Asia-Pacific, and RoW). The report also explores patent activity, emerging technologies, and ESG developments, offering insights into the competitive landscape and the strategies of leading companies.
Industrial IoT (IIoT): Global Markets: The report analyzes offerings (hardware, solutions and platforms, services), connectivity (wired and wireless), deployment (on-premise and cloud), organization size (SMEs and large enterprises), and industry verticals (manufacturing, energy and utilities, healthcare, etc.). It also examines regional markets (North America, Europe, Asia-Pacific, RoW), regulations, government programs, and technical issues. It includes market size data for software, platforms, solutions, services, and hardware, taking into consideration manufacturers’ and consumers’ perspectives.
Purchase a copy of the report direct from BCC Research.
For further information on any of these reports or to purchase one, please contact info@bccresearch.com.
About BCC Research
BCC Research market research reports provide objective, unbiased measurement, and assessment of market opportunities. Our experienced industry analysts’ goal is to help you make informed business decisions free of noise and hype.
Contact Us
Corporate HQ: 50 Milk St., Ste. 16, Boston, MA 02109, USA
Email: info@bccresearch.com
Phone: +1 781-489-7301
For media inquiries, email press@bccresearch.com or visit our media page for access to our market research library.
Any data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher.
Logo – https://mma.prnewswire.com/media/2183242/BCC_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/smart-transportation-market-to-reach-484-5-billion-by-2029–growing-at-21-7-cagr-302419093.html