Smart Transportation Market Is Driven By Increasing Innovative City Projects And Government Programs Toward Reducing The Effects Of Greenhouse Gases
Smart Transportation Industry Overview The global smart transportation market size was valued at USD 101.26 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.6% from 2022 to 2030. The market growth is driven by increasing innovative city projects, government programs toward reducing the effects of greenhouse gases, and the need for technology in traffic management systems. Lack of safe public transportation, poor management of public transportation, increased road safety concerns, and poor traffic management are some of the factors significantly driving the demand for smart transportation. Smart transportation is a cutting-edge technological application that provides various transportation and traffic management services. It has become an integral part of everyday life due to increased accidents and traffic in different countries. Smart transportation systems make it easier to use more informed, safer, coordi...