A new research report confirms what many of us have been hearing for the past year -- smart transportation is the fastest growing segment of the smart cities market. Just how fast? According to Research and Markets, nearly 24% year over year from 2012 to 2018 when it will top $100 billion. And this is despite the budget constraints faced by most cities. Congestion is getting so bad, citizen frustration is rising so high, that many cities feel they have no choice but to spend on solutions.
We can only hope that these cities will see smart transportation as part of a larger solution. If they will use their urgent transportation needs as an excuse to implement a city-wide enterprise architecture and city-wide communications, they'll create a platform on which they can build all sorts of other services later. -- Jesse Berst
The report -- Smart Transportation Market - By Solutions, Services Worldwide Analysis And Forecasts (2012 - 2018) – focuses on the market potential of the major sub-segments of transportation, which it lists as:
- Ticketing management
- Parking management and guidance,
- Passenger information
- Integrated supervision
- Traffic management
The growth markets for smart transportation, according to the report, are Latin America, the Middle East and Africa, and the Commonwealth of Independent States and Eastern Europe.
The report also profiles leading companies in the smart transportation sector, among them Smart Cities Council Lead Partners Alstom, Cisco, GE and IBM.