Global smart transport market size 2012-2020
The global smart transport market is expected to grow by over 400 percent between 2012 and 2020, to reach a total of 5.5 billion U.S. dollars.
Smart transport systems
A smart transport system is where technology is used to integrate information regarding different modes of transport to facilitate an easier movement of people and goods through a city. To achieve this, a diverse range of technologies are required. On one end of the scale are large-scale, high-investment technologies to manage public infrastructure such as traffic lights, public transport and parking. On the other end are widespread personal technologies, such as smartphones, which can track locations in real-time to provide information such as traffic volumes. Being driven by information, the more people who use such services the more data is available to improve such services. And usage is already very widespread - in the U.S. over half of all adults use the map and navigation services on their smartphone.
The need for smart transport
As cities become more crowded, smart transport systems will be increasingly required to relieve congestion. Hundreds of millions of people are expected to move to cities in the coming decades, and global car sales remain stable despite increasing environmental concerns. In addition, building public transport is very expensive. The use of smart technologies remains the most feasible way to address congestion in the short term, not only by managing traffic flows, but also allowing a more efficient use of transport assets though technologies such as ridesharing.
Smart transport systems
A smart transport system is where technology is used to integrate information regarding different modes of transport to facilitate an easier movement of people and goods through a city. To achieve this, a diverse range of technologies are required. On one end of the scale are large-scale, high-investment technologies to manage public infrastructure such as traffic lights, public transport and parking. On the other end are widespread personal technologies, such as smartphones, which can track locations in real-time to provide information such as traffic volumes. Being driven by information, the more people who use such services the more data is available to improve such services. And usage is already very widespread - in the U.S. over half of all adults use the map and navigation services on their smartphone.
The need for smart transport
As cities become more crowded, smart transport systems will be increasingly required to relieve congestion. Hundreds of millions of people are expected to move to cities in the coming decades, and global car sales remain stable despite increasing environmental concerns. In addition, building public transport is very expensive. The use of smart technologies remains the most feasible way to address congestion in the short term, not only by managing traffic flows, but also allowing a more efficient use of transport assets though technologies such as ridesharing.
