Smart Transportation Market 2022 Industry Share, Outlook, Growth | Forecast 2028Posted by Diya on March 23rd, 2022 Global Smart Transportation Market Size research report 2021 offers in-depth assessment of revenue growth, market definition, segmentation, industry potential, influential trends for understanding the future outlook and current prospects for the market. This study provides information about the sales and revenue during the historic and forecasted period of (2021 to 2028). Understanding the segments helps in identifying the importance of different factors that aid market growth. Estimations about the CAGR value for specific forecast period, market drivers, market restraints, and competitive strategies are assessed in this Smart Transportation Market report. April 2021 – Trapeze Group Americas (Trapeze) launched Vontas, its new business division focused exclusively on meeting the Intelligent Transportation Systems (ITS) needs of transit agencies in North America. Important Features that are under Offering and Key Highlights of the Market Report:
Drivers & Restraints Traffic problems are rising owing to an exponential increase in suburban and rural residents moving to cities and the equivalent surge in population density around urban areas. With rapid density growth, vehicular congestion in cities has also increased, aided by inadequate highway designs and poor urban planning. For instance, traffic congestion alone cost more than USD 200 billion in 4 developed economies (U.K., France, U.S., and Germany). It leads to a high number of accidents, money & time lost in commuting, and overall loss of economic growth & productivity. However, through remote sensors, autonomous vehicles, 5G networks, vehicle-sharing services, dynamic traffic signals, and better infrastructure, automotive safety and efficiency can be increased. Hence, these factors are driving the demand for smart transportation networks. Key players covered in the global Smart Transportation Market research report:
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