A smart city refers to a city that efficiently deploys its Information and Communication Technology (ICT) infrastructure to improve the quality of life, along with augmented efficiency in urban operation and services. This guarantees that the economic, social, and environmental requirements of the present and future generations are addressed. An existing city can be considered smart only if it adheres to the following components: smart transportation, smart buildings, smart utilities, and smart citizen services.

Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=542

Smart cities are differentiated in terms of their governance, technological advances, economic benefits, and social and environmental standards. Globally, there are over 1,000 cities with a population exceeding 500,000.

Smart transportation is an integral part of smart city projects. Smart cities worldwide have already deployed transportation solutions along with the infrastructure to support future transportation systems. Smart transportation solutions have effectively curtailed traffic woes in some megacities of the world. The new generation of solutions offers traffic prediction, analytics and decision support, traveler information, advisory searches, and ticketing and fare collection. These solutions have proven to be proficient in diminishing traffic congestion issues. Even though Intelligent Transportation Systems (ITS) have been around since 1994, contemporary solutions have advanced tools for traffic estimation, parking guidance, passenger information, consulting services, data analytics, decision support, fare collection, smart ticketing, and insurance telematics. These solutions impact the quality and accessibility for delivering of information for delivering an enhanced passenger experience.

Recent developments in the smart transportation market:

• In Sept 2022, Technology firm Huawei introduced the Future Railway Mobile Communication System (FRMCS) solution to drive a digital shift in the railway sector. The solution was unveiled at InnoTrans 2022 and the 9th Huawei Global Rail Summit held in Berlin, Germany. FRMCS will enable functions that include the use of train-to-ground wireless services for train control and dispatch, railway operations and maintenance (O&M), and railway Internet of Things (IoT).
• Intel Corp’s Mobileye unit plans to build and deploy self-driving electric shuttle vehicles with its partners in the US in 2024.

Smart transportation is a technologically advanced approach to effectively managing the operations of all modes of transportation by quickly sharing data across infrastructure components, such as passengers, ticketing departments, control centers, and freight. Smart transportation solutions are backed by various latest technologies, such as Internet of Things (IoT), cloud analytics, big data and analytics, AR, GPS, Artificial Intelligence (AI), and ML, to make transportation operations more accurate and efficient. The smart transportation approach integrates software solutions to optimize the usage of assets, from tracks to trains, vehicle to infrastructure, aircraft to the ground, and ship to shore, to meet the ever-growing demands. The increasing importance of sustainability, regulations, demographics (growing traffic and aging population), economics (limited public funding and price sensitivity), Information Technology (IT) innovations, and mobility is expected to spur the growth of the transportation industry. These inclinations are also expected to change each component of smart transportation’s value chain – from passenger services to backend organizations.

Request Sample Pages : https://www.marketsandmarkets.com/requestsampleNew.asp?id=542

The future transportation industry is expected to rely on an array of smart and disruptive technologies over the larger transportation network infrastructure. Technologies such as integrated service management, asset management, and predictive analysis are expected to help transportation management companies manage optimal routes, schedules, and capacity in real-time. With the increasing presence of smart technologies in smart transportation, the associated solutions and services markets are also expected to register high growth rates globally. Emerging technologies such as smart ticketing, predictive analytics, cloud adoption, smart traffic, and operation solutions will enable efficient and better transportation infrastructure.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com