Smart Cities: How Technology Will Reshape Transportation in 2022

The smart transportation market size is estimated to reach $130 billion by 2024. This reflects a CAGR growth of 20 percent from 2018 till 2024. Even though such a development pace can hardly be called explosive, smart transportation systems are gaining momentum worldwide. Rapid urbanization, always-connected vehicles, environment protection initiatives, and traffic optimization technologies are the primary triggers of new mobility. City residents and authorities expect smart infrastructures to emerge since improved road and passenger safety is a must in the so-desired smart cities. Smart transportation consists of smart infrastructures capable of providing passengers and drivers with advanced services for better coordinated and more efficient transportation networks.