Asia Pacific Smart Transportation Market Forecast 2018-2026
Asia Pacific Smart Transportation market is predicted to grow at a CAGR of 28.35%, increasing its revenue from $xx billion in 2017 to $xx billion by the end of the forecast period of 2018-2026.
The large population base in the Asia-Pacific region and the increasing number of smart city projects coupled with the rising urbanization is driving growth in the Asia-Pacific market. The market is divided on the basis of smart transportation services and smart transportation solutions. However, it is facing major challenges because of the lack of awareness regarding the technology, licensing and maintenance costs, and the huge expenses required for training the personnel.
Accenture, Cisco Systems Inc, Orange Business Services, Siemens Ag, Alstom SA, Cubic Corporation, Q-Free Asa, Gemalto NV, International Business Machines Corporation (IBM), Amano Corporation,Serco Group Plc, On Track Innovations (OTI) Ltd, T2 Systems Inc, Swarco Ag, Nedap N.V Synapt,Indigo Infra SA and Kapsch Trafficom are few of the important players in the market.