Smart transportation uses information technology and artificial intelligence to efficiently manage and coordinate transportation systems. The application of smart transportation network allows the travelling population to have better knowledge of the traffic for better coordination. In addition, the use of smart transportation also ensures safety for the drivers. The market is experiencing growth due to their increasing demand across all geographic locations. The rising need for safe and secured transportation and planning of smart cities by governments have propelled the growth of the global smart transportation market. However, the high initial investment and lack of data might restrain the market's growth during the forecast period.