UK 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 UK is projected to grow at a high rate during the forecast period, backed by the rising focus of the government on the deployment of smart city infrastructure by introducing smart city projects across the country. The market players are continuously developing advanced technology-based solutions for the smart transportation in UK.
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- In November 2020, Transport for Greater Manchester (TfGM) has signed a partnership agreement with Vivacity Labs with an aim to roll out the AI-controlled smart traffic junctions to drive the traffic management in the country.
- In November 2020, Diode, a start-up based in UK, has secured $193,540 (~£146,000) in grant funding from Innovate UK to augment its development in UK. The start-up will use the funds in the development of a fully-automated software solutions for organizations, businesses, and individuals.
- In November 2020, a mobile division of Toyota, Kinto, announced the use of Fleetondemand’s Mobilleo platform to engage the new multi-modal services in UK.
- In October 2020, Tyne and Wear Passenger Transport has announced to secure around $132 million of Government investment to improve public transport system.
UK 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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