‘100 Smart City Mission’ to affect the global Smart transportation market

100-smart-city-mission-to-affect-the-global-smart-transportation-market

A smart transportation system is an efficient transport infrastructure that is being created as a part of the Smart city mission. It is being executed to reduce congestion, improve mobility and reduce the environmental impact of greenhouse gasses emitted by vehicles. These systems have a variety of applications that include electronic toll collection, ramp meters, traffic light cameras,traffic-signal coordination, and traveller information system.

 

For the smart transportation system to be in place, a huge initial investment is to be done to replace the present infrastructure. This provides investment opportunities to companies like Accenture, Plc, Amano Corporation, Alstom SA, Cisco Systems Inc., Cubic Corporation, Gemalto N.V., Indigo Infra S.A., Inrix Inc., International Business, Machines Corporation (IBM), Kapsch Trafficom GmbH, Msr-traffic GmbH, and Siemens AG. One of the pioneers in transport infrastructure i.e. Alstom has established a strong presence in India by executing metro projects in several metro cities including Chennai, Kochi, and Lucknow. Recently they also rolled out the 100th train under the ‘Make in India’ initiative in Sri city, which is a smart integrated business city located in Andhra Pradesh.

 

Due to the smart city mission project, the Asia Pacific market is expected to show the highest compound annual growth rate over the coming years under the increasing deployment of smart infrastructure projects. One of the key factors responsible for driving market growth is increasing vehicle parc worldwide. According to statistics by Organisation Internationale des Constructeurs d’Automobiles, globally, 93,856,388 units of vehicles were sold in 2016, which is 4,171,780 units over 2015 total global sales. This all the more creates a need for an efficient transport network to reduce traffic congestion that would be caused by the increasing number of vehicles, reducing the impact of various emitted gases and increasing the need for public safety and security.

 

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