Global Smart Transportation Market to cross $130bn by 2024 Smart Transportation Market | Page 3

Smart Transportation Market Size, By Mode of Transportation, 2017 & 2024
(USD Million)
China: A pivotal contributor toward global smart transportation industry share
augmentation
Touted as the largest automobile market across the globe, China has made swift
headways in enhancing the overall growth potential of industry in the recent years. For
instance, the Intelligent Transport System Association of China has recently
announced to invest about USD 30 billion in the intelligent transport solutions sector by
2020 that would aid in encouraging green transport system and help construct
electronic charging systems across the country.
Speaking on the similar lines, the Chinese Government aims to have 10 percent of all
cars to be self-driving by 2030. Subsequently, the market players consider this
opportunity as significant and intend to release unique solutions that would assist in
delivering better traffic updates, on-the-go recharging of electric-vehicle batteries, more
accurate mapping, etc. One of the most interesting instances of this is the trial of
‘intelligent highway’ that could revolutionize the global smart transportation market
outlook. Apparently, the highway would be embedded underneath with advanced
technologies and solar panels that would generate enough electricity to power
approximately 800 homes and highway lights.
Apart from such proactive schemes, China has established a national motor vehicle
and driver information management system and further plans to set up a platform for
national electronic charging systems. There are also various efforts in pipeline to
promote information-sharing activities between civil aviation, rails, buses which would
achieve seamless integration of data, in turn opening plethora of opportunities for
industry stakeholders.
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