Latin America Smart Transportation Market is expected to reach a CAGR of 13.6% in the forecast period of 2018 to 2025. The new market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Segmentation
By Solution (Passenger Information Solution, Traffic Management Solution, Parking Management Solution, Smart Ticketing Solution, Insurance Telematics Solution, and Integrated Supervision Solution), By Service (Professional Services and Cloud Services), By Transportation Mode (Railways, Roadways, Waterways, Airways)
Major growing sectors under the market segmentation are as follows;
In solution, the adoption of traffic management solution is witnessing a robust growth. Rapidly growing traffic congestion, increased urbanization, and growing safety concerns is likely to boost the market for traffic management solution. The objective of integrating this solution is to ensure safety for the road users, and thus provide a decreased and hassle-free travel time to them. Additionally, it improves the traffic flow, ensures transportation system efficiency, thereby enhancing the overall mobility.
In services, cloud services dominated the Latin America smart transportation market owing to increased need of storing large data on a daily basis. It has been observed that the adoption of cloud services in the transportation industry has optimized the traffic flow and minimized fuel consumption. The segment is likely to remain dominant with the highest CAGR throughout the period.
In transportation mode, roadways accounted for the maximum share in the year 2017 because of rapidly increase in projects for expanding road networks in the region. Countries such as Panama, Argentina, and Brazil among others are witnessing a notable growth in road infrastructure.
Key Market Players
The key market players for Latin America Smart Transportation market are listed below;
Kapsch Traffic Com
Gemalto NV
Thales Group
Alstom
Schneider Electric
Siemens
MSR-Traffic
Cubic Corporation
WS ATKINS PLC
Cisco System, Inc.
Accenture
IBM
LG CNS
Indigo Group
Toshiba Corporation
