Top 10 Smart Transportation Industry Companies Impacting Smart Cities In The Coming Years
RELEASE DATE: Sep 2024 Author: Spherical Insights Request Free Sample
What is Smart Transportation?
Smart transportation encompasses the utilization of many different technologies, ranging from fundamental technologies including roadway signal supervision, container management, autonomous vehicle plate recognition, camera surveillance, and surveillance apps to more sophisticated applications that incorporate real-time data and feedback from various external sources.
Key Market Insights:
The Global Smart transportation Market size was valued at USD 125.53 billion in 2023 and is projected to USD 475.51 Billion by 2033, exhibiting a CAGR of 14.25% during the forecast period 2023-2033. Several prominent companies within the global smart transportation industry are Alstom, Hitachi Ltd., Thales Group, Huawei Technologies Co., Ltd., Siemens AG, IBM Corporation, Cisco Systems.
Key Drivers Fueling the Smart Transportation Revolution
1. The expanding number of smart cities
A city gains intelligence each time it upgrades its current framework to include additional connected or data-driven technologies. Beyond Smart Mobility, smart cities can benefit from sensors that track temperature and air quality, IoT technology in public spaces that saves energy, and data-driven garbage collection and disposal
2. Utilization of IoT and automation solutions to improve technological effectiveness
The growth of IoT has permitted the sharing of information across various electronic devices without requiring direct human intervention. The integration of IoT platforms and smart transportation solutions is likely to accelerate market growth. Smart gadgets that have been integrated for improved connectivity, automation, and control are predicted to become more self-governing and intelligent when it comes to exchanging data with transport administration controlling centers and the cloud. The smart transportation industry is predicted to expand as demand for linked technologies, apps, and smart devices rises.
3. Analytics adoption in smart transportation
Urban transit generates more than 500 petabytes of data. This figure is expected to rise as smart city technology advances. This valuable data from commuters, cars, and infrastructure improves transportation planning. City planners improve urban lifestyles through the use of strong algorithms. They are changing how we move about cities. Big data does more than merely enhance things now; it also shapes the future. It guarantees that urban transportation improves, making cities desirable places to reside.
4. Growing Traffic Volume Will Fuel this Market's Growth
Traffic congestion is worsening as more suburban and rural populations move to cities, resulting in a spike in population density around urban centers. With growing urbanization, vehicular congestion has worsened, aided by insufficient roadway designs and bad urban planning. For example, transportation congestion alone costs more than USD 200 billion in four wealthy economies that is U.K., France, U.S., and Germany.
5. Improved safety while decreasing accidents
The amount of traffic accidents could be greatly decreased by connected cars and driverless technology. Autonomous vehicles are built to carefully abide by traffic laws, reducing human error, and real-time communication among automobiles and infrastructure assists in preventing crashes.
Government Policies Impacting Smart Transportation
- The United States government has unveiled the Smart Cities Initiative, which will utilize over 25 new technology partnerships and invest over $160 million in federal research to support local communities in addressing major issues like crime prevention, traffic congestion, economic growth, coping with the effects of climate change, and better city service delivery. To establish a research infrastructure for smart cities, the program has allocated over $10 million in proposed investments and over $35 million in new awards. Additionally, it pledges to invest over $45 million in suggested investments and nearly $70 million in new spending to open up new avenues for safety, energy, transportation, health, and other areas.,
List of Key Companies in the Smart Transportation Industry
- Ford Smart Mobility
- Siemens
- MaaS Global
- Cisco
- Hitachi
- Cubic Corporation
- Alstom
- Toshiba
- Lockheed Martin
- Thales Group
Top 5 Players in the Smart Transportation Industry
1. Ford Mobility
Headquarters: Dearborn, Michigan.
Ford Mobility is a mobility solution supplier. The transportation services it provides include last-mile delivery, micro-transit, management of fleets, navigation, parking spaces, and city data solutions. It offers solutions for the growth of autonomous cars, enterprises, smart cities, and people. Ford Motor Company is a leader in the development of connected car technology, electrified automobiles, and autonomous driving technologies. The company's Smart Mobility program seeks to provide seamless, customized, and sustainable mobility experiences to revolutionize the transportation industry in the future.
2. Siemens
Headquarters: Munich, Germany
Siemens Limited is a technology business that focuses on digital transformation, industry, infrastructure, transportation, and the generation and transmission of electrical power. It is Siemens AG's principal publicly traded company in India. The organization of the firm is well-suited to satisfy the demands of the sector in terms of increasing productivity, quality, adaptability, and speed. The company's diverse portfolio, market-driven organizational structure, leadership in global technology, and strong local competency put it in a strong position to collaborate with the nation on sustainable growth.
3. MaaS Global
Headquarters: Eindhoven, Netherlands.
MaaS Global is a transportation industry leader in Mobility as a Service (MaaS) technologies. To make urban travel easier, the company provides a smartphone application that lets customers schedule, reserve, and pay for a variety of transportation options. MaaS Global focuses on improving the sustainability and efficiency of urban transportation while primarily serving the general population. Its headquarters are in Helsinki, Finland, and it was created in 2015. The Mobility-as-a-Service provider MaaS Global is poised to revolutionize the way individuals travel in the future. Being the first mobility operator in history, they will revolutionize transportation in a way not seen since the introduction of reasonably priced cars.
4. Cisco
Headquarters: San Jose, California, United States
Cisco Systems is a global leader in networking devices supply and a major player in the software industry. Selling networking equipment and software—where it has the highest market shares—and cybersecurity software, such firewalls, are its two main lines of business. It also offers observability tools and collaborative technologies like its Webex suite. Its manufacturing is mostly outsourced to outside companies, and it employs 25,000 people in sales and marketing in 90 countries. Cisco offers its goods all around the world and has 80,000 employees overall. Furthermore, Cisco has been at the forefront of utilizing the Internet for commercial purposes and provides advisory services to other organizations globally, drawing from its vast knowledge.
5. Cubic Transportation Systems
Headquarters: California, United States
American multinational company Cubic Corporation produces technology for public transit and defense. Cubic Transportation Systems (CTS) and Cubic Mission and Performance Solutions (CMPS) are its two operating divisions. The business provides LVC Training, guaranteed data connection solutions, digital intelligence, edge computing and networking, military communications, public transportation systems, and intelligent transportation systems. In addition to services and infrastructure for the public transportation and international safety markets, the firm concentrates in providing training and operational assistance for different divisions of the US military. It also incorporates payment and information support for travel software, which lessens traffic and boosts operational effectiveness and readiness through situational awareness.
Recent Development
- In July 2024, Alstom has officially opened Hefei Alstom Rail Transport Equipment Co., Ltd. (HATEE), a new joint venture. At the inauguration ceremony were Mr. Bertrand Lortholary, the French Ambassador to China, as well as representatives from the local government of Hefei and the province government of Anhui.
- In June 2024, Siemens Mobility completed investments in its Cornellà facility to greatly increase output and portfolio of products.
- In April 2024, Umob, a platform located in Rotterdam, has accomplished a new milestone. through the acquisition of MaaS Global, the Finnish business that developed Whim, the MaaS application.
- In June 2023, Siemens Mobility has successfully acquired Optrail S.r.l., an Italian software firm that offers proprietary algorithms for traffic control Systems (TMS) grounded in operations studies and quantitative optimization techniques.
- In April 2022, Cubic Transportation Systems (Cubic) has declared the expansion of its collaboration with New England Traffic Solutions (NETS), a stalwart partner that offers cutting-edge technology that facilitate the safe and efficient flow of both automobile and pedestrian traffic.
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