Research and Markets has announced the addition of the "World Smart Transportation Market - Opportunities and Forecasts, 2014 - 2022" report to their offering.

Smart transport, also known as Intelligent Transport System (ITS), is an advanced transportation infrastructure, which has the aim to provide innovative services for traffic and transport management system. The goal of this report is to analyze the current and expected trends of the smart transportation market as the system has garnered substantial support from government agencies. The study covers an in-depth analysis of the market based on various solutions, services and smart/green fuels segments of the market. The report analyzes opportunities in the developed and emerging economies so that companies can strategically plan their moves in specific regions.

Government initiatives such as the EU Directive on Intelligent Transport Systems passed on July 7 2010, to efficiently manage road traffic was introduced, as it would save time and fuel. Additionally, it can provide better safety and security by integrating intelligent communication system in the infrastructure, which is another driving factor of the market. Moreover, the ITS also aims at encouraging the development and promotion of alternative green fuels as crude oil is available in limited resources and is depleting fast. However, the key restraint for the market is the need of high capital investment as the existing transport system requires a complete revamp. Furthermore, certain downtime is required to update the infrastructure to implement smart transport system, which is a huge obstacle, as it would mean a complete halt in routine travel of passengers. The key opportunity for the market lies in the investments in smart cities as smart transportation would be an integral part of smart cities.

Smart Transportation Market Analysis by Solutions

The market is segmented on the basis of solutions such as ticketing management system, parking management & guidance system, passenger information system, integrated supervision system and traffic management system. The ticketing management system is projected to have the highest revenue share, as it is the basic system in transportation infrastructure, which was implemented easily. However, the integrated supervision system is expected to have the highest growth potential as it would reduce traffic blocks, accidents and provide better safety measures.

For more information about this report visit http://www.researchandmarkets.com/research/mp89ld/world_smart