Smart Transportation Market Statistics, Emerging Demands and
Forecast

Smart
Transportation Market size was estimated at USD 129,382.0 million in
2024 and is projected to reach USD 319,793.5 million in 2031 at a CAGR of 5.4 %
during the forecast period 2025-2031.

The scope of the smart transportation market spans across
various sectors, including automotive, public transport, logistics, and
infrastructure development. In particular, the adoption of electric vehicles
and autonomous driving technologies is rapidly increasing, with numerous
innovations aimed at improving vehicle performance and reducing the
environmental impact of transportation.

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The new tariff imposed by President Trump on imports had a
notable impact on the smart transportation market, particularly affecting the
cost of components and materials for smart vehicles and infrastructure. Many
key components, such as semiconductors, sensors, and electric vehicle parts, are
manufactured in China and were subject to increased tariffs.

This resulted in higher production costs for companies in
the smart transportation sector, which either absorbed these costs or passed
them on to consumers. Additionally, the tariffs created uncertainty in global
supply chains, slowing the pace of technological innovation and deployment. The
market saw some disruption in product availability and delays in infrastructure
projects, particularly in regions heavily reliant on Chinese manufacturing.
Moving forward, these tariffs could affect the price competitiveness of smart
transportation products and slightly delay the adoption of certain
technologies.

The tariffs imposed on Chinese imports have impacted the
market by increasing production costs for key components like sensors,
semiconductors, and EV parts, leading to higher prices and delays in
development. Moving forward, the tariffs are expected to slow the market's
growth by approximately 4-6% in the next few years as manufacturers adjust to supply
chain disruptions and higher costs.

The Prominent Players
in the Smart Transportation Market:

·       
Thales Group

·       
Huawei

·       
Siemens

·       
Cisco

·       
DNV

·       
Cubic

·       
Alstom

·       
Toshiba

·       
Veson Nautical

·       
NEC Corporation

·       
Bentley Systems

·       
Indra

·       
Trimble

·       
TomTom

·       
Conduent

·       
Kapsch

·       
Hitachi and More

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Recent Developments

·       
In
December 2024, Thales was chosen by Avinor to implement Norway's
next-generation nationwide air traffic management system. This project aims to
improve safety and efficiency in the country’s airspace, modernizing air
traffic services across Norway.

·       
In
October 2024, Talaat Moustafa Group teamed up with Huawei to develop a
smart city in Madinaty City. The collaboration will leverage Huawei’s advanced
technologies for smart applications in transportation, water management, and
security, thereby enhancing urban living.

·       
In
October 2024, Cubic delivered a smart ticketing solution for Tasmania's
public transport network, aiming to modernize fare collection and improve the
overall efficiency of public transport services across the state.

·       
In
September 2024, Siemens Mobility signed a major framework agreement with
Beacon for the procurement of Vectron locomotives. This deal strengthens their
partnership to enhance rail transport capabilities across Europe.

The Smart
Transportation Market is segmented into various segments such as Transportation
Mode, End User and Region.

Based on
Transportation Mode

·       
Roadways

·       
Railways

·       
Airways

·       
Maritime

Based on End User

·       
Government

·       
Commercial Organizations

The Report helps to
identify the opportunities in Global Regions:

·       
North America (the United States, Canada, and
Mexico)

·       
Europe (Germany, UK, France, Italy, Russia,
Turkey, etc.)

·       
Asia-Pacific (China, Japan, Korea, India,
Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and
Vietnam))

·       
South America (Brazil etc.)

·       
The Middle East and Africa (North Africa and GCC
Countries)

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In addition to the
market data for the Smart Transportation Market, Delvens offers client-centric
reports customized according to the company’s specific demand and requirements.

More Related Reports:

Smart Water Meters Market

Automotive Logistics Market

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