Market Share of Smart Transportation Industry
As the market penetration of the smart transportation industry is relatively low, firms are poised to offer products and solutions that are tailor-made to specific segments and even customize products for individual customers, enhancing differentiation and price realization. The major participants in the smart transportation business, like Cisco, SAP SE, IBM, etc., are focusing on growing their operations in new areas. These companies have a track history of developing novel and inventive ideas to expand their product lines in the smart transportation sector. Overall, the industry's intensity of competitive rivalry is expected to be high during the forecast period.
- November 2022 - Alstom and Kazakhstan Railways (KTZ) signed a cooperation agreement. Alstom and KTZ strengthened their partnership in the renewal of KTZ's locomotive fleet and maintenance support, which includes the next-generation locomotive KZ8A. Currently, 90 freight and 39 passenger locomotives are in commercial service, with 160 freight and 80 passenger locomotives scheduled to be manufactured and delivered for KTZ.
- October 2022 - Siemens and 16 partners started a project likely to last through the end of 2024 to enhance artificial intelligence in the autonomous operation of regional trains. A budget of EUR 23 million (USD 25 million) within the German government-funded "safe.trAIn" project is available for this project. Meeting the requirements in this highly governed and standardized environment can significantly improve the efficiency and sustainability of regional railway transportation.
Smart Transportation Market Leaders
Cisco Systems Inc.
SAP SE
IBM Corporation
AVEVA Group PLC
Siemens Corporation
*Disclaimer: Major Players sorted in no particular order
