Summary
The global Transportation It Spending Market is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019.
Overview
The growing emphasis on intermodal transportation solutions has prompted IT in Transportation specialists to explore the possibility of IT in Transportation Management. As the world's attention is increasingly focused on the efficient management of freight-related activities, government involvement and IT in Transportation are becoming more significant. The global transportation IT spending market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global transportation IT spending market is expected to witness significant growth during the forecast period, owing to technological advancements to enhance the consumer experience.
Market Drivers
Increasing urban population and high demographic rates are expected to drive growth of the global transportation IT spending market during the forecast period. According to the United Nations (UN), in 2018, around 55% of the global population was living in urban areas, which is expected to reach 68% by 2050. According to the same source, the global urban population has increased from US$ 751 million in 1950 to 4.2 billion in 2018. Such a massive increase in urban population has necessitated adequate infrastructure for transportation with smart technologies. As a result of this, IT expenditure has increased in the transportation infrastructure. Hence, such factors are expected to drive growth of the global transportation IT spending market during the forecast period. Furthermore, technological advancements to enhance consumer experience is expected to propel the global transportation IT spending market growth over the forecast period.
Market Restraint
Stringent regulations on transportation are expected to restrain growth of the global transportation IT spending market during the forecast period.
Regional Insights
Among regions, Europe is expected to witness significant growth in the global transportation IT spending market during the forecast period. This is owing to proactive government support for IT expenditure in transportation. Furthermore, North America is expected to register a robust growth rate over the forecast period, owing to the early adoption of technological advancements.
Competitive Section
Major companies operating in the global transportation IT spending market are Accenture, IBM Corporation, Cisco Systems, Cubic, Siemens, Atos, Amadeus, Bass Software, GE Transportation Systems, SAP, Wipro, and Thales Group.
For instance, in December 2020, Siemens Mobility entered into a contract with Bengaluru Metro Rail Corporation Ltd (BMRCL) to install a full set of automated rain solution for phase 2 of the Bangalore Metro expansion.
The Transportation It Spending Market report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Transportation It Spending Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- Accenture
- Cisco Systems
- GE Transportation Systems
- IBM
- Siemens
- Amadeus
- Alstom
- Atos
- Bass Software
- Capgemini
- Cognizant
- Cubic
- Damarel
- Descarts Systems
- DNV GL
- Ikusi
- Indra Sistemas
- KAPSCH
- LG CNS
- Mindfire Solutions
- NEC
- Northrop Grumman
- Wayne RESA
- Rockwell Collins
- SAP
- TCS
- Thales Group
- Veson Nautical
- Wipro
By the Product Type, the market is primarily segmented into:
- Hardware
- Software and Solutions
- IT Services
By Applications, the market is segmented into:
- Airlines
- Waterways
- Railways
- Road Transport
The Report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
Objective of the Transportation It Spending Market Report:
- To assess the size of the market by value and volume
- Analyze the Transportation It Spending Market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Transportation It Spending Market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state-of –the-art tools and the current primary and secondary research approaches
- Discuss major factors that impact growth of the Transportation It Spending Market
The Transportation It Spending Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Transportation It Spending Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
Available Customizations:
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
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