Printed Electronics Market By Demand, Growth, Strategic Opportunities and Leading Players Forecast To 2024

 Transparency Market Research observes that the global printed electronics market show a very fragmented competitive landscape. The leading players defining the landscape are LEONHARD KURZ Stiftung &Co. KG, E Ink Holdings Inc., Agfa-Gevaert N.V., BASF SE, and Samsung Electronics Co., Ltd. These players are expected to emphasize on improving their geographical presence through mergers and acquisitions. Analysts advice that the vendors should focus on minimum material consumption and high-speed fabrication. The growing demand for flexible electronics at affordable costs and energy-efficient technology will prove to be key trends that companies operating n the global printed electronics market could benefit from.

According to Transparency Market Research, the global printed electronics market was worth US$25.4 bn in 2015 and is projected to be worth US$65.0 bn by the end of 2024. During the forecast years of 2016 and 2024, the global printed electronics market is expected to exhibit a CAGR of 11.0%. Out of the various application segments, the retail and packaging segment is expected to dominate the global market for printed electronics between 2016 and 2024 as the demand for smart packaging is expected to be on the rise. In terms of geography, Asia Pacific is projected to global printed electronics market as the automotive industry in the developing economies of Japan, India, and China witness a phenomenal rise.

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Automotive Sector’s Uptake of Printed Electronics to Remain in Top Gear

Printed electronics use screen printing, inkjet printing, gravure, flexography, and offset lithography techniques to electrical devices on various materials. Printed electronics are predominantly used in a wide range of industries such as consumer electronics, healthcare, media, and automotive. Thus emergence and steady growth of these end-user industries has had an excellent impact on the global market. Growing sales of automobiles in developing economies with improving disposable incomes is created several lucrative opportunities for the vendors in the global printed electronics market.

In the coming years, the global market for printed electronics market is also likely to benefit from increasing uptake of smart displays and smart devices. Constant upgrades to the healthcare sector with adoption of new-age medical sensors and diagnostic devices is also augmenting the global printed electronics market. As demand for active clothing, smart labels, decorative and animated posters, and flexible displays rises it is projected to create a positive atmosphere for the global market for printed electronics.

Technological Complexities Hinder Growth for Printed Electronics Market

Despite the strong market drivers, the global printed electronics market is likely to be pulled in the opposite direction. Analysts anticipate that global printed electronics market is likely to be restrained by possible technological complexities along with issues pertaining to electricity and conductivity with a wide range of substrates or materials. However, the report states that the widening application of printing technologies in several energy storage devices and photovoltaic cells are expected to create lucrative opportunities for the global printed electronics market during the forecast period.

This review is based on Transparency Market Research’s report, titled “Printed Electronics Market (Materials – Substances (Organic Materials (Polymers and Papers) and Inorganic Materials (Silicon and Glass), Inks (Dielectric Inks and Conductive Inks); Technology – Flexography, Ink-jet Printing, Gravure Printing, and Screen Printing; Application – Automotive, Retail and Packaging, Electronics, and Display) – Global Industry Analysis Size Share Growth Trends and Forecast 2016 – 2024”.

Global printed electronics market has been segmented as:

By Materials:

• Substances
• Organic Materials
• Polymers
• Papers
• Inorganic Materials
• Silicon
• Glass
• Inks
• Dielectric Inks
• Conductive Inks

By Technology:

• Flexography
• Ink-jet Printing
• Gravure Printing
• Screen Printing

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By Application:

• Automotive
• Retail and Packaging
• Electronics
• Display
• 
  

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WebRTC Market to Perceive Substantial Growth during 2026

 According to a new market research report published by Transparency Market Research titled ‘WebRTC Market (Platform Provider: Browser, Mobile, Unified Communication; Solution: Voice, Video, and Data Sharing; End-use Industry: Telecommunications, IT, Health Care, E-commerce, Education, Media & Entertainment, BFSI, and Others (Energy and Transportation)) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,’ the global WebRTC market is expected to reach US$ 54,944.9 Mn by 2026. The market is anticipated to expand at a CAGR of 17.9% during the period from 2018 to 2026. The global demand for WebRTC is expected to rise, largely due to a rise in its application in end-use sectors such as telecom, IT, e-commerce, and others.

In recent years, real-time Internet applications have been taken into consideration in order to provide quality of service (QoS) requirements. For real-time media, application designers are mainly concerned with temporal properties such as jitter, delay, bandwidth, and synchronization and reliability properties such as ordered delivery, error-free delivery, and fairness. In order to achieve such efficiency, industries across the globe are focusing on introducing real-time communication applications that can provide multiple advantages such as network reliability, security, efficiency, timeliness, and peer-to peer.

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Interoperability is a major issue faced by the WebRTC market. Interfacing of edge devices might pose a challenge to their smooth functioning due to differences among vendors providing edge devices, service providers, and IP-PBX. Furthermore, virtualization across IT and network environments in the form of cloud services, network functions virtualization (NFV), and software-defined networking architecture (SDN) includes greater complexity and is challenging the competency of traditional operators in IT organizations.

The mobile segment held a share of 49.0% of the global WebRTC Market in 2018. This is the result of increased adoption of smartphones. The mobile segment is expected to expand at a significant growth rate during the forecast period. This is due to a rise in smartphone penetration and preference of end-users for the mobile platform. Health care is anticipated to be a rapidly expanding segment of the market. It is expected to expand at a CAGR of 21.9% during the forecast period. Furthermore, in the health care industry, patients and doctors are adopting WebRTC solutions in order to reduce their commute to hospital also to improve mobility and device support. WebRTC solutions allow doctors and hospital staff to use collaboration suites everywhere to virtually treat patients. Additionally, WebRTC solutions provide customers with a click-to-call solution, which helps connect doctors and hospitals with patients. WebRTC solutions could be the first step in implementing a full electronic health system that can bring the doctor home.

In terms of end-user, the telecommunication industry dominates the WebRTC market. The Internet and app ecosystem have already driven disruption with VoIP, IM, and social networks taking consumer mindshare. WebRTC have brought bigger opportunities for the telecom industry. Traditional telecom players are focusing on reviewing obsolete business models and developing communications services and applications that meet real human needs. The BFSI, media and entertainment, and others (energy and transportation) segments are also estimated to expand during the forecast period.

global webrtc market

North America held a prominent market share of around 39.8% in 2018. Expansion in the technology industry in the U.S. has boosted demand for web communication through video, voice, or data sharing. The market in Asia Pacific is expected to expand at a rapid CAGR of 20.7% during the forecast period.

A rise in the need for real-time and peer-to-peer communication across the region is driving the WebRTC market. Major players in the WebRTC market include Acano Ltd., Google Incorporation, TokBox, Twilio, Avaya, Inc., Cafex Communications Inc., Citrix Systems Inc., Dialogic Corporation, Frozen Mountain, Genband US LLC, Oracle Corporation, Quobis Networks, S.L, Sinch AB, and TeleStax, Inc.

Market Segmentation

WebRTC Market, by Platform Provider

• Browser
• Mobile
• Unified Communication

WebRTC Market, by Solution

• Voice
• Video
• Data Sharing

WebRTC Market, by Application

• Telecom
• IT
• Healthcare
• E-commerce
• Education
• Media & Entertainment
• BFSI
• Others (Energy and Transportation)

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports thrive to provide clients to serve their overall research requirement.

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Telecom Enterprise Services Market Expected To Witness a Sustainable Growth Over 2030

Transparency Market Research delivers key insights on the global telecom enterprise services market. In terms of revenue, the global telecom enterprise services market is estimated to expand at a CAGR of ~4% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global telecom enterprise services market.

The demand for enterprise services is expected to surge in the upcoming years with the expansion of micro, small, and medium enterprises (MSMEs) across the world and increase in industrial activity globally. In addition, more investments in and economic growth of the APAC region, and increase in worldwide enterprise IT spending across verticals are further expected to drive the market during the forecast period. The report analyzes the global telecom enterprise services market and provides estimates in terms of revenue (US$ Bn) from 2018 to 2030.

Telecom Enterprise Services Market: Key Growth Drivers

The world is witnessing expansion of Micro, Small, and Medium Enterprises (MSMEs). Approximately 120 million formal MSMEs operate across the world, with over 89 million operating in emerging markets such as India, China, and the developing countries of Southeast Asia. Formal MSMEs are more common in high-income economies such as OECD, non-OECD countries, and the EU. The MSME density is increasing at a rapid pace in low and middle-income economies, especially in the Middle East, Latin America, Caribbean, South Asia and East Asia, and the Pacific regions. MSMEs play an important role in employment generation as well as in the GDP of an economy. They still employ more than one-third of the world’s labor force. MSMEs seek low-cost and efficient communication solutions with a focus on continuity of operations and processes, which, in turn, will trigger the growth of the telecom enterprise services market.

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Moreover, there is extensive industrial activity that is driving telecom enterprise services. The advent of the IT & ITES industry across emerging economies has led to an increase in the overall industrial activity. Banking and IT & ITES are major sectors adopting telecom enterprise services and mobility solutions to improve the customer experience. This has led to immense opportunity for global operators to establish and engage in business with companies operating in these sectors. Bandwidth, both domestic and international, plays a crucial role in knowledge-based industries such as BPOs, call centers, and software exports.

In the IT/ITeS industry, the rise in demand for enterprise connectivity solutions can be attributed to the need for high-speed connectivity, voice channels, and expansion of BPO/back-office companies, which has led to the high demand for IP and international private leased circuits. National e-governance initiatives such as unique identification/social security, measures for financial inclusion, and improving connectivity in rural areas are the key factors driving the adoption of telecom enterprise services.

Key Challenges Faced by Telecom Enterprise Services Market Players

Government rules and regulations may hinder the growth of the telecom enterprise services market, as telecommunications is a heavily regulated sector and telecom industry operators are highly sensitive to uncertainties, which are projected to undermine incentives to invest. Spectrum and spectrum auction is the most important factor of the sector, as mobile data traffic continues to increase in all geographies. Around 80% of operators believe that spectrum release and auction frameworks are likely to be leading regulatory issues over the next three years. Government rules and regulations for the telecom industry in emerging economies are highly scrutinized and stringent in nature. The Government of India has deployed strict regulations and SOPs to comply with, while auctioning spectrum due to recent scams in spectrum auction in the country. This also has an impeding effect on the decision-making procedure by respective governments when dealing in spectrum auction, thereby hampering the overall telecom enterprise services market in emerging economies.

Telecom Enterprise Services Market: Key Players

Key players operating in the global telecom enterprise services market include Advoda Communications, Inc., AT&T, BCM One, Inc., CenturyLink, Converged Network Services Group, Intelisys Communications, Inc., Intracom Telecom SA, SoftBank Corp, Telarus Inc., Telecom Brokerage Inc., Telecom Brokers, Verizon, Windstream Communications, World Telecom Group, Inc., and X4 Solutions.

Global Telecom Enterprise Services Market: Segmentation

Telecom Enterprise Services Market, by Solution

• Voice
• Data/Internet Service
• Wireless/Mobility
• Managed Service
• Cloud Service

Telecom Enterprise Services Market, by Enterprise Size 

• Small & Medium Enterprise
• Large Enterprise

Telecom Enterprise Services Market, by Revenue Stream

• Master Agent
• Carriers
• Others

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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What Is The Projected Market Size And Growth Rate Of The Retort Packaging Market?

 In the age where people have lost time to eat due to busy schedules, the demand for processed food has sky-rocketed. This is simply because processed food are easily available, they last longer, and do not require time to cook. Some of them are instantly available for eating as well. Hence, the demand for processed food is growing by the day. While companies manufacturing processed food are happy about this trend, those who produce packaging material for processed food are also riding high. Transparency Market Research has recently published a report on the global retort packaging market. Further, the report states that the global retort packaging market will grow at 5% CAGR during the forecast period from 2019-2027.

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Retort Pouches to Lead the Way

According to the report, retort pouches alone account for 53% sales in the global retort packaging market. This is a prominent trend for players as they will have to devise strategies to capitalize on the products in this segment. Retort pouches find more usage as they have several advantages. They are easy to manufacture and come for a lesser cost when compared to other products in the global retort packaging market. Further, consumers are able to print easily on them and hence the possibility of promotions and branding is easier with retort pouches. At the end of the day, the cost of marketing and branding is also lesser with retort pouches. Hence, the demand for products in this segment of the global retort packaging market is expected to remain high in the coming years.

Besides this, the possibility of innovation is also higher with retort pouches as they are flexible and malleable. Hence, manufacturers in the global retort packaging market find it easy to produce new products and lure consumers. At the same time, consumers are also keen only having their own idea incorporated in the packaging of their products. Hence, the possibility of customizing demands from consumers is easy with retort pouches. This trend will also influence growth on the global retort packaging market in the coming years.

Plastic is Still the Go-to Material

While there are enough measures taken to stop use of plastic due to the harmful environmental impacts the material has, it remains the go-to material in the global retort packaging market. This is because it comes at a lower price and offer flexibility in creating different products. As a result, it has a direct impact on the consumer too. This trend is expected to support growth in the global retort packaging market.

At the same time, there is realization among manufacturers in the global retort packaging market about the adverse effects of plastic and hence they are working on producing products that can be recycled. This way, it will not impact the consumer sentiment and at the same time, they will be able to take care of regulations imposed by authorities on plastic.

The global retort packaging market is segmented based on

Product

• Pouches
• Stand-up Pouches
• Back seal quad pouches
• Spouted pouches
• Gusseted pouches
• Trays
• Cartons
• Cans

Material

• Plastic
• Polyamide
• Polyester
• Ethyl Vinyl Alcohol
• Polyethylene
• Metal
• Paper & Paperboard

End-use

• Food
• Meal Ready to Eat
• Meat
• Poultry & Seafood
• Pet food
• Baby food
• Soups & Sauces
• Beverages
• Alcoholic
• Non alcoholic

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Region

• North America
• Europe
• Asia Pacific
• Rest of the World (RoW)

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Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

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Smart Toys Market Progresses for Huge Profits during 2031

 The increasing demand for internet of toys technology-enabled products as well as the rising demand for smart toy products that feature user friendly technologies, that can be easily accessed by the toddlers and young kids and gain access to basics of tech education and literacy are fostering the meteoric rise of the global smart toys market in recent years. Furthermore, the increasing disposable income amongst the global population, especially in developed as well as developing economies is further propelling the demand within the global smart toys market. The increasing proliferation of internet-based online stores, as well as e-commerce platforms, has also provided a unique way for the manufacturers and developers in the global smart toys market to market their products.

The increasing growth of the e-commerce platforms over the period of the COVID-19 pandemic compelled the manufacturers and players working within the landscape of the global smart toys market to target consumers within the developed regions of the world. On the other hand, the lack of spending capacity was observed during the pandemic period in underdeveloped as well as developing economies around the world, which adversely affected the demand for the products in the global smart toys market over the last couple of years.

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COVID-19 Pandemic Intensifies the Demand in Smart Toys Market

The manufacturers and players operating in the global smart toys market are also focusing on developing and designing attractive packaging solutions as well as exploring new-age marketing techniques and solutions to enhance their brand visibility in the marketplace. The increasing trend of stay at home as well as working from home parents amid the COVID-19 pandemic is also expected to positively influence the growth within the global smart toys market.

The manufacturers and players operational within the global smart toys market provide their consumers with various types of innovative and technology-enabled toys, such as voice or image recognition toys, toys to life, app-enabled toys, health tracking toys, and screen fewer toys, among others. These products i.e. smart toys can be powered through connections with smartphones, various consoles, and tablets. The increasing number of smartphones around the world as well as the early exposure to smartphones for educational purposes amongst children is driving the adoption of the smartphone-connected products in the global smart toys market. Some of the key technologies adopted by the manufacturers and players in the global smart toys market to power these unique toys include Bluetooth technologies as well as Wi-Fi technologies.

Players in Smart Toys Market Focused on Promoting their New and Innovative Products

The landscape of the global smart toys market is considered to be somewhat fragmented, owing to the presence of several prominent players in the industry throughout the globe. The leading and incumbent manufacturers and players operational within the landscape of the global smart toys market include Sony Corporation, Mattel, Inc., Playmobil, Kid II, Inc., Konami Corporation, Hasbro, Inc., Jakks Pacific, Inc., Leapfrog Entertainment, The Lego Group, and KNex Industries, Inc., among others.

The majority of the prominent manufacturers and players in the global smart toys market are adopting several corporate growth strategies to enhance their industry standing. These moves and tactics involve geographical expansions to tap into previously unexplored regional markets to boost the consumer base as well as mergers and acquisitions. Additionally, the manufacturers and players in the global smart toys market are also increasingly investing in the exploration of the latest technologies to design and develop new and exciting smart toys.

The manufacturers and players in the global smart toys market are also focused on generating awareness pertaining to the availability of these next-gen smart toys. Traditional toys generate massive amounts of revenue owing to their widespread popularity and ease of use as well as affordability. To generate momentum for their products, the manufacturers and players in the global smart toys market are making substantial changes to revamp the traditional toys by enabling futuristic and smart functionalities to them.

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Outdoor Structures & Beach Chair/Camping Chair Market to Witness Exponential Growth by 2031

 Transparency Market Research delivers key insights on the North America outdoor structures & beach chair/camping chair market. In terms of revenue, the North America outdoor structures & beach chair/camping chair market is estimated to expand at a CAGR of ~5% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the North America outdoor structures & beach chair/camping chair market.

The North America outdoor structures & beach chair/camping chair market is affected by several factors, including high price and cost of raw materials. Improvement in product offerings & services by manufacturers coupled with regional penetration is expected to drive the outdoor structures & beach chair/camping chair market during the forecast period.

Outdoor Structures & Beach Chair/Camping Chair Market: Dynamics

The popularity of camping is growing across the globe especially among the younger population, which is enhancing the demand for beach chairs in the market. Furthermore, camping helps in reducing stress and contributes to emotional and physical health; thus, more people are expressing interest in camping, which also increases the demand for beach chairs. The increasing disposable income and changing lifestyle of consumers in developed and developing countries is helping in the growth of the outdoor structures and beach chair/camping chair market.

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Companies operating in the outdoor structures market are developing products with addition features such as windows, electricity availability, single roof, and more, which enhances the demand for outdoor structures. Manufacturers are developing outdoor structures with waterproof materials, which make them safe to store items even during the rainy season. Moreover, structures made with steel easily sustain harsh weather conditions and provide long-term durability. This further increases the demand for outdoor structures in the market.

Metal is one of the important raw materials used in the making of outdoor structures. Change in the prices of metal at the global level can be a factor hampering market growth. Furthermore, the high price is also a factor restraining the demand for outdoor structures and beach chair or camping chairs. Lockdown and other government restrictions imposed due to the outbreak of the COVID-19 pandemic resulted in disruption of supply chains, leading to shortage of raw materials, which negatively affected the growth of the outdoor structures & beach chair/camping chair market.

Consumers are increasingly preferring eco-friendly or sustainable products to minimize the environment impact. Thus, companies are manufacturing sustainable structures and beach chairs to attract more customers. Constructing an environment-friendly structure involves using means that will not hurt the environment. Manufacturers are also offering eco-friendly beach chairs in the market, which incorporate upcycled ocean-bound plastic from at-risk coastal areas in the product design. This factor further helps in the growth of the outdoor structures & beach chair/camping chair market.

Outdoor Structures & Beach Chair/Camping Chair Market: Prominent Regions

In terms of country, the U.S. has prominent share in terms of value and volume in the overall market for outdoor structures & beach chairs in North America. The trend is anticipated to continue during the forecast period, owing to increasing spending on outdoor activities and rising number of local manufacturers. Consumers in the U.S. are increasingly spending on eco-friendly and durable outdoor structures. Moreover, products with additional features such as fire resistance, water resistance, and rust resistance are highly preferred by millennial population of the U.S.

In Canada, outdoor structures are primarily used as a garden storage and car parking solution. Metal carports of steel are widely preferred for low cost, lightweight, fast construction, and easy maintenance. Tensile fabric canopies are increasingly used for commercial and residential spaces. In addition, rising preference for outdoor recreational activities is likely to push the demand for metal carports in the near future.

Outdoor Structures & Beach Chair/Camping Chair Market: Key Players

Key players operating in the North America outdoor structures & beach chair/camping chair market include Craftsman, Handy Home, Kloter Farms, Lifetime Products, ShelterLogic Group, Suncast Corporation, Tuff Shed, Blue Ridge Chair Works, Cape Cod Beach Chair Company, Inc., Strongback Chair, and Telescope Casual Furniture.

North America Outdoor Structures & Beach Chair/Camping Chair Market: Segmentation

Outdoor Structures & Beach Chair/Camping Chair Market, by Product Type

• Outdoor StructuresMetal Sheds
• Metal Garages/Carports
• Fabric Garages/Canopies
• Gazebos
• Beach Chair/Camping Chair

Outdoor Structures & Beach Chair/Camping Chair Market, by Material

• Wood
• Metal
• Resin
• Fabric

Outdoor Structures & Beach Chair/Camping Chair Market, by End Use

• Commercial
• Residential
• Industrial

Outdoor Structures & Beach Chair/Camping Chair Market, by Installation

• Ready to Assemble
• Custom

Outdoor Structures & Beach Chair/Camping Chair Market, by Distribution Channel

• OnlineCompany Owned Websites
• eCommerce Websites
• OfflineSpecialty Stores
• Hypermarkets/Supermarkets
• Others

Outdoor Structures & Beach Chair/Camping Chair Market, by Country

• U.S.
• Canada

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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Key Points Covered In the Smart Transportation Market Study

 According to the report, the global smart transportation market was valued at US$ 47.91 Bn in 2020, expanding at a CAGR of 21.3% during the forecast period. Smart transportation integrates different technological features and applications for providing real-time information to improve, innovate and manage transportation systems. These technological features are adopted in all the transportation services including roadways, railways, airways and maritime to improve performance in the transportation systems.

Rising technological advancements to enhance customer experience in the vehicles drives the growth of the smart transportation market. Moreover, integration of artificial intelligence (AI), machine learning (ML) and internet of things (IoT) in the vehicles can endorses a better understanding and knowledge about consumer behaviors and thereby, further opt for appropriate solutions and better decision making for consumer’s safety and security. In addition, such technologies also provides guidance in real-time data tracking and management solution. Therefore, use of advanced technology in the vehicles propels the growth of the smart transportation market.

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Due to onset of COVID-19 pandemic, the transportation sector was widely hampered, as the public was restricted from traveling due to lockdown and all the public and private transport services was also shut. Moreover, due to disruption of global supply chain, rail, road, air and sea transportation services was also stopped, which further hampered the market growth. However, all the global restrictions have been relieved, which reinitiated the travel and tourism industry, and rest of the manufacturing and supply businesses are starting their services that initiated the supply chains, hence, further expected to witness the growth of smart transportation market.

Expansion of Global Smart Transportation Market

The rising trend and use of autonomous and semi-autonomous vehicles in most of the developed and developing countries is expected to drive growth of the smart transportation market during forecast period. Countries such as the U.S., Germany, the U.K. France, Japan, China and others has adopted the use of autonomous metro and bullet train service which require very minimal or no intervention of human and all the solutions and services are equipped with advanced features. Moreover, the demand for connected cars is also rising in the U.S. and European countries, which stores all its recorded data on cloud server that is accessed by the service providers and users for their further use. Therefore, such adoption of technology in vehicles or trains is projected to boost the growth of the market in the future.

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Based on application, public transport segment held a prominent share of the smart transportation market, in terms of revenue, in 2020. Technology integration in the public transport offers real-time data for different transit services including departure time, arrival time and current location of vehicle, which further avoids disruptions. Moreover, several governments are focusing to upgrade their transportation with advanced technologies which also contributes in growth of the smart transportation market.

In terms of transportation mode, the road transportation mode segment held a prominent share of the smart transportation market, in terms of revenue, in 2020. In road transport services, the technological features are widely integrated, especially for traffic management solutions, road freight forwarding, inventory or container data management and others. Moreover, highways are equipped with different radars, which track the vehicle speed, traffic and avoid accidents, which also contributes in the market.

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Regional Analysis of Smart Transportation Market

In terms of region, the global smart transportation market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe has dominated the global smart transportation market in terms of revenue in 2020, as this region has highest adoption of advanced technology in the transportation sectors. Moreover, the European countries are highly investing for up-gradation and modernization of their rail services and infrastructure, which contributes in the growth of smart transportation market. Apart from Europe, Asia Pacific region is expected to witness fastest growth in the market due to its rising population and urbanization and increasing adoption of advanced technological features for transportation services.

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Smart Transportation Market Players

Prominent players operating in the global smart transportation market include General Electric Company, IBM Corporation Inc., WS Atkins, Cisco Systems, Accenture PLC, Cubic Corporation, Thales Group, Siemens AG, Huawei Technologies Co., Ltd., Bombardier Inc., Harris Corporation, TomTom International BV., Amadeus IT Group SA, Hitachi Ltd., Bentley Systems and others.

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