North America smart transportation market is projected to grow at a significant CAGR of around 14.8% during the forecast period (2020-2026). The market for smart transportation in North America is projected to grow at a high rate during the forecast period, backed by the public-private partnership (PPP) model engaged by the market players and the companies. There are several organizations/initiatives for the deployment of smart transportation technology. The Intelligent Transportation Society of America (ITS America) is one of the core pillars of the smart transportation development in the region. There are several micro-mobility initiatives in the US that assist transport low-income residents.
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Likewise, ITS Canada have been put forward by the Government of Canada for the development of smart transportation infrastructure in the country. Canada is investing significantly in the development of smart city infrastructure involving a huge part of smart transportation. Edmonton in Canada is witnessing a huge growth in the deployment of smart city infrastructure, supported by the smart transportation pilot projects driven by the Government of Canada. Therefore, with the support of the government and the significant presence of key market players, such as Intel Corp., IBM Corp., and Oracle Corp., is leading to the rise in the adoption of smart technologies in smart city projects, such as technologies for smart transportation.
North America Smart Transportation Market – Segmentation
By Transportation Mode
- Railways
- Roadways
- Airways
- Maritime
By Application
- Ticketing Management System
- Parking Management System
- Traffic Management System
- Others (Integrated Supervision System)
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