Global Transportation IT Spending Market 2015-2019
About Transportation IT Spending
The Transportation sector comprises of airlines, trucking companies, waterways, railways, and road transport. This sector's performance depends on the changes in the prices of oil. IT has been playing an essential role in the transformation of the Transportation sector. The rising oil consumption, depleting natural resources, shortage of oil reserves, and increasing demand for vehicle fuels have forced various countries to explore alternate ways to improve efficiencies. As a result, countries are focusing on increasing the adoption of IT in transportation system.
TechNavio's analysts forecast the Global Transportation IT Spending market to grow at a CAGR of 4.26 percent over the period 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the Global Transportation IT Spending market for the period 2015-2019. The Global Transportation IT Spending market can be segmented into three: Hardware, Software and Solutions, and IT Services. The report includes information about the geographical segmentation of the Global Transportation IT Spending market based on the three key regions: the Americas, and the APAC and EMEA regions.
TechNavio's report, the Global Transportation IT Spending Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the Global Transportation IT Spending market landscape and its growth prospects in the coming years. The report includes a detailed discussion of the key vendors operating in this market.Key Regions
TechNavio Announces the Publication of its Research Report – Global Transportation IT Spending Market 2015-2019
TechNavio recognizes the following companies as the key players in the Global Transportation IT Spending Market: Accenture plc, Cisco Systems Inc., Cubic Corp., GE Transportation Systems Co., IBM Corp. and Siemens AG
Other Prominent Vendors in the market are: Affiliated Computer Services, AirIT, Aljex Software, Alstom, Atos, Bass Software, Capgemini, Cognizant, Cubic, Damarel, Descarts Systems, DNV, ESRI, Ikusi, Indra Sistemas, KAPSCH, LG CNS, Mindfire Solutions, NEC, Northrop Grumman, RESA, Rockwell Collins, SAP, Siemens, TCS, Thales Group, Veson Nautical and Wipro.
Commenting on the report, an analyst from TechNavio’s team said: “One major trend upcoming in this market is the rise in adoption of business intelligence solutions. Governments and private firms collect and analyze data with BI software to help them gain an insight into the market, which helps them in making important decisions.”
According to the report, one of the major drivers of the market is increased spending on transportation IT systems. Increased traffic congestion and road accidents have forced governments worldwide to spend heavily on transportation IT systems. The fast pace of urbanization and increase in disposable income have resulted in a rise in the number of vehicles. This has led to the need for efficient traffic control, which is expected to lead to a high investment in traffic management systems.
Further, the report states that the resistance to accept the benefits of IT and the lack of technically experienced people in this sector are posing a challenge to the growth of the market. Installation of IT systems in the Transportation sector is a long-duration project because of customization. This requires acceptance of technology and realization of the benefits associated with the use of IT systems.
Accenture, Cisco Systems , Cubic , GE Transportation Systems , IBM , Siemens, Affiliated Computer Services , AirIT, Aljex Software , Alstom, Atos, Bass Software , Capgemini , Cognizant , Cubic, Damarel, Descarts Systems , DNV GL, ESRI, Ikusi, Indra Sistemas,KAPSCH, LG CNS , Mindfire Solutions, NEC, Northrop Grumman, RESA, Rockwell Collins , SAP, Siemens , TCS, Thales Group , Veson Nautical , Wipro