Government initiatives for smart cities and PPP working model
The increasing urbanization rate across the globe is resulting in the evolution of smart cities. Governments around the world are undertaking multiple smart city initiatives to provide better transportation infrastructure and speed-up operational activities concerning public transportation services. For instance, the Government of India has proposed to make 100 smart cities in the next few years. Furthermore, the Government of Singapore is implementing digital technology in transportation to accomplish its Smart Nation vision. Transportation is considered one of the most important pillars of a country’s economic development and hence, these smart city initiatives will drive the growth of the Smart Transportation Market.
Deployment of smart transportation systems requires joint efforts from multiple stakeholders such as telecom operators, infrastructure providers, service providers, manufacturers, public sector, and the user groups. Government authorities are adopting Public Private Partnerships (PPP) working models, which enable the private sector companies to participate in governments’ smart transportation initiatives for deploying and financing transportation projects. For instance, the Indonesia government opted for the PPP working model for fast completion of its transportation projects.
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Recovering ROI from legacy systems
Huge investments have been made in the legacy transportation systems which still serve the fundamental necessities. Companies are focused on recovering Return On Investment (ROI) from these systems and not on upgrading to new technology systems. While the presence of existing infrastructure provides an opportunity for companies to approach agencies and governments for their modernization, it still limits governments from making large-scale investments. Smart transportation systems also demand continuous infrastructural developments and timely network upgradation. Increase in investments will also affect the country’s liquidity and would indirectly impact the smart transportation market.
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Major vendors covered in the smart transportation market include Thales (France), Huawei (China), Siemens (Germany), IBM (US), Cisco Systems (US), SAP (Germany), Cubic (US), ALSTOM (France), Bombardier (Canada), Toshiba (Japan), Harris (US), Saab (Sweden), Veson Nautical (Massachusetts), Advanced Navigation Positioning Corporation (ANPC) (Australia), BASS Software (Norway), BENTLEY SYSTEMS (US), Indra Sistemas (Spain), Trimble (US), TomTom (Netherlands), Amadeus (Spain), Conduent (US), Kapsch (Austria), Hitachi (Japan), The Descartes Systems (Canada), Accenture (Republic of Ireland), Rockwell Collins (US), and DNV GL (Norway).
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