Smart Transportation Market to Reach $251.0 Billion, Globally, by 2030 at 10.2% CAGR: AMR
PORTLAND, Ore., April 13, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Smart Transportation Market By Solution (Ticketing Management System, Parking Management and Guidance System, Integrated Supervision System, Traffic Management System), by Services (Business, Professional, Cloud Services), by Transportation Type (Roadways, Railways, Airways, Maritime): Global Opportunity Analysis and Industry Forecast, 2020-2030". As per the report, the global smart transportation industry was pegged at $96.6 billion in 2020, and is expected to reach $251.0 billion by 2030, growing at a CAGR of 10.2% from 2021 to 2030.
- Smooth flow of traffic and time-efficiency and rise in demand for efficient transportation networks drive global smart transportation market.
- As per the report, the global smart transportation industry was pegged at $96.6 billion in 2020, and is expected to reach $251.0 billion by 2030, growing at a CAGR of 10.2% from 2021 to 2030.
- Smooth flow of traffic and time-efficiency, development and promotion of green fuels, and surge in demand for efficient transportation networks have boosted the growth of the global smart transportation market .
- By solution, the traffic management system segment dominated the market in 2020, contributing to nearly one-third of the global smart transportation market.