With the help of IT and AI, smart transportation is moving towards betterment to productively oversee and deal with transportation systems, only in the US, but also all around the globe. Based on this fact auto transportation in California seems to improve and facilitate the people in the best possible manner. With the use of advanced transportation system, the traveling population can have better updates and knowledge regarding traffic for improved direction and movement.
Moreover, smart transportation works in a way to make sure that travelers and drives are moving in the safest possible environment. With the addition of artificial intelligence, the market is observing expanded demand all around the world.
The growing requirement intended for safe transportation and planning for smart cities by administrations has attracted the development of the worldwide market of smart transportation along with better auto transportation in California. But, the requirement of substantial early investment and the absence of data may control the market's advancement for the forecast period. On the other hand, the increasing demand across the globe has the potential regarding market growth.
With regards to providing with solutions, the worldwide advanced transportation market has been tailored into smart management systems of parking, ticketing, integrated supervision, and traffic management. Going through the forecast period, this section is expected to lead the market due to the growing requirement for a decrease in traffic overcrowding with the application of smart tolling systems and freight management.
With regards to service, the transport sections tend to convent the worldwide transportation market into proficient services. On the contrary, the cloud services also observed record revenue on the grounds of an upward trend for remote data administration with regards to control transportation efficiently over the globe and have increased the demand for cloud services.
Transparency Market Research published the report in which it indicated that the worldwide smart transportation market is expected to grow powerfully between 2015 and 2021. The report was published with the title “Smart Transportation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021,” plans the market to be worth US$176.49 bn by 2021. The worth of the overall market was projected at US$45.10 bn in 2014. Therefore, it has been observed the growing need for auto transportation in California as well as other parts of the state.
Furthermore, the report includes the trend of smart transportation across the four vital districts that include Europe, North America, Asia Pacific, and the rest of the world. Europe led the market in 2015, and the region is likely to proceed as the leading region all through the forecast period.
The fast development of the Europe market can be credited to the enhanced traffic regulations applied by the European nations. Besides, due to the occurrence of some key market players, for example, Siemens and Alstom SA in the region has favored with regards to the development of the market. Depicting the competitive scenario, the report includes profiles of a few leading players functional in the worldwide advanced transportation market, for example, Siemens, Accenture Plc, IBM, GE Transportation, Cubic Corporation, Alstom SA, Cisco Systems, LG CNS, Kapsch, and AECOM.