Smart traffic management systems can redistribute transportation flows away from congested areas via push notifications that provide drivers with a complete picture of city traffic in real-time. Chatbots can serve as intelligent ticket sales channels capable of automating ticket management.
Fremont, CA: By 2024, the smart transportation market is expected to be worth $130 billion. This represents a 20 percent CAGR increase from 2018 to 2024. Despite the fact that such a rate of development is hardly explosive, smart transportation systems are gaining traction around the world. The primary drivers of new mobility are rapid urbanization, always-connected vehicles, environmental protection initiatives, and traffic optimization technologies. Residents and city officials anticipate the development of smart infrastructures, as improved road and passenger safety is essential in the desired smart cities.
Benefits of Transportation Technology
Better Management
Smart traffic management systems can redistribute transportation flows away from congested areas via push notifications that provide drivers with a complete picture of city traffic in real-time. Chatbots can serve as intelligent ticket sales channels capable of automating ticket management.
Improved Performance
Because fuel-saving solutions are capable of dispatching vehicles more rationally when the shortest possible route can be found with machine learning algorithms enabled by city traffic data collected via GPS and smart transportation, street sensors can leave a smaller carbon footprint.
Decreased Costs
Intelligent traffic management systems can significantly reduce traffic jams, empty miles, fuel consumption, and a variety of other factors that result in unnecessary expenses for transportation companies, shippers, and passengers. When widely adopted telematics and communication technologies offer smart city transportation with plenty of data collected from different sources, always-connected transportation is not limited by the narrow confines of the shipping sector. The more data road users can collect and process, the lower the cost of moving between smart cities.