Smart Transportation Market worth $138.76 Billion by 2020

"MarketsandMarkets has broadly segmented the smart transportation market on the basis of solutions into ticketing management system, parking management and guidance system, passenger information system, integrated supervisory system, and traffic management system. The smart transportation market is also segmented on the basis of services into business services, professional services, and cloud services, and on the basis of regions into North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and Latin America. Planning smart cities becomes a viable option for governments and municipal authorities as the emphasis on reducing carbon emissions is growing due to the fact that conventional cities form a major source of CO2 emissions. Smart technologies are environmental friendly encouraging greener technologies and provide operational ease making them the engines of growth for the smart transportation market

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