US Smart Transportation Markets, 2021-2026: The Presence of Oracle, IBM, and Intel is Supporting the Growth of the Market
DUBLIN, June 8, 2021 /PRNewswire/ -- The "US Smart Transportation Market 2020-2026" report has been added to ResearchAndMarkets.com's offering.
US smart transportation market is projected to witness considerable growth during the forecast period. The major factors contributing to the growth of the market include the rising government spending in the improvement of transport infrastructure and continuous R&D in the autonomous vehicles in the country by the leading automotive companies, such as Tesla Inc.
Moreover, the rising urban population due to the migration of people in the US for education, job, and medical issues, is further leading to the growth of the traffic in the country, which in turn, is augmenting the growth of the smart transportation market in the US.
The presence of the key market players, such as Oracle Corp., IBM Corp., and Intel Corp., is further supporting the growth of the market in the US. However, the stringent transportation regulations, lack of standardized technology, and the high initial cost of deployment of the smart transportation solutions will affect the market growth during the forecast period.
The US smart transportation market is influenced by product development and advancements conducted by the market players. The key players of the smart transportation market include Cisco Systems, Inc., Siemens AG, Oracle Corp., IBM Corp., SAP SE, Huawei Technologies Co., Ltd., Intel Corp., and Parsons Corp.
These players are playing a significant role in the growth of the smart transportation market by providing various products and adopting several strategies such as merger and acquisition, partnerships and collaboration, technological development, and others.
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