COVID-19 IMPACT SURVEY MAY 2020
Amid the COVID-19 crisis and the looming economic recession, the Smart Transportation market worldwide will grow by a projected US$138.7 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 16.5%. Roadways, one of the segments analyzed and sized in this study, is forecast to grow at over 15.6% and reach a market size of US$87.6 Billion by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Roadways market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 15.5% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$4.8 Billion to the region's size over the next 7 to 8 years. In addition, over US$5.8 Billion worth of projected demand in the region will come from Rest of European markets. In Japan, the Roadways segment will reach a market size of US$5.6 Billion by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Smart Transportation market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 14.4% over the next couple of years and add approximately US$17.8 Billion in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Smart Transportation market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others, ABB Group; Accenture PLC; Advanced Navigation and Positioning Corporation (ANPC); AeroVironment, Inc.; Aldridge Traffic Systems Pty. Ltd. (ATS); Alstom SA; Amadeus IT Group SA; Amano Corporation; BASS Software Ltd.; Bentley Systems, Inc.; Bestmile USA, Inc.; BlaBlaCar; Bombardier, Inc.; Cambio Carsharing; Car2go NA, LLC; ChargePoint, Inc.; Chariot; Cisco Systems, Inc.; Citi Bike; Cityhop Ltd.; Communauto Inc.; Conduent, Inc.; Confidex Ltd.; Continental AG; CPI Card Group, Inc.; Cubic Corporation; Cyient Ltd.; Delphi Technologies; DNV GL Group; DriveNow GmbH & Co. KG; E2s Warning Signals; Eaton Corporation PLC; Econolite; Evatran (Plugless Power); Federal Signal Corporation; Gemalto NV; Google LLC; Harman International Industries, Inc.; Harris Corporation; Hevo Power; Hitachi Ltd.; Huawei Technologies Co., Ltd.; IBM Corporation; Indigo UK; Indra Sistemas SA; Kapsch AG; Medha Servo Drives Private Limited; Mitsubishi Electric Corporation; Mobike; Mojo Mobility; Momentum Dynamics Corp; Nedap Identification Systems; Neusoft Corporation; NXP Semiconductors NV; ofo, Inc.; Predikto, Inc.; PTV Group; Rambus, Inc.; Robert Bosch GmbH; Rockwell Collins, Inc.; SAAB AB; SAP SE; Siemens AG; Streetline; TE Connectivity Ltd.; Teleste Corporation; Thales Group; The Descartes Systems Group Inc.; Tiger Analytics; Tkh Group-Park Assist; TomTom International BV; Toshiba Corporation; Trimble, Inc.; Uber Technologies Inc.; Veson Nautical LLC.; WERMA Signaltechnik GmbH + Co. KG,; Witricity Corporation