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Smart Transportation Market worth $276.65 billion by 2029- Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Jan. 30, 2025 /PRNewswire/ — The Smart Transportation Market is estimated at USD 129.72 billion in 2024 to USD 276.65 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 16.4%, according to a new report by MarketsandMarkets™.  

Smart transportation is a modernization that digitally integrates AI, IoT, 5G as well, and data analytics into the transportation systems to improve the optimality of efficiency, safety, and sustainability over road, rail, air, and marine systems. These innovations help address congestion, environmental concerns, and safety, among others. For example, in the shipping sector, smart ports employ IoT sensors and AI to better handle shipping operations by enhancing cargo-handling activities, docking arrangements, and environmental monitoring, which is a fuel and air pollution saver. Improved air traffic management systems use AI to strengthen plane scheduling, propose optimized air traffic routing, and improve airport operations to cut down delay time and support universal aviation. Technologies of this nature would allow smoother operations, economic growth, and environmental conservation while enabling the movement of goods and people.

Browse in-depth TOC on “Smart Transportation Market”

300 – Tables
  60 – Figures
400 – Pages

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Scope of the Report

Report Metrics

Details

Market size available for years

2019-2029

Base year considered

2023

Forecast period

2024–2029

Forecast units

Value (USD) Billion

Segments Covered

By Transportation Mode, End User, and Region

Region covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

The major players in the Smart Transportation Market are Thales Group (France), Huawei (China), Siemens (Germany), Cisco (US), and DNV (Norway), Cubic (US), Alstom (France), Toshiba (Japan), Veson Nautical (US), NEC Corporation (Japan), Bentley Systems (US), Indra (Spain), Trimble (US), TomTom (Netherlands), Conduent (US), Kapsch (Austria), Hitachi (Japan), Descartes (Canada), Wartsila (Finland), Bosch (Germany), IEI Integration Corp. (Taiwan), Schneider Electric (France), Transcore (USA), BASSnet (Norway), EKE-Electronics (Finland), Aitek (Italy), Iteris (USA), Inrix (USA), TagMaster (Sweden), Atsuke (Japan), Park+ (India), Appyway (UK), and Efftronics Systems (India).

By transportation mode, Railways is expected to hold the highest growth rate during the forecast period.

Railways are anticipated to hold the most significant growth rate during the forecast period, owing to their operational efficiency, commitment to sustainability, and the integration of advanced technologies. They are essential in connecting different regions and enabling economical, large-scale transportation for passengers and cargo. The sector includes innovations such as Smart Ticketing for seamless digital reservations, Passenger Information Systems that provide real-time updates, Freight Management systems for tracking and optimizing goods movement, Rail Traffic Management to ensure efficient scheduling and safety, and Rail Asset Management to oversee and maintain infrastructure. Implementing technologies like GIS tracking, security systems, and advanced analytics enhances operational efficiency. For example, countries such as Germany and the UK have implemented smart ticketing systems to improve passenger experiences, whereas Indian Railways uses freight management systems to enhance logistics efficiency. Due to growing emphasis on modernization and increased investments, railways are poised to emerge as a dominant player in the transportation industry, symbolizing a sustainable and technologically sophisticated option.

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Based on End User segment, Government will hold the largest market size during the forecast period.

Governments are expected to hold the largest market share during the forecast period due to their critical role in funding, building, and managing transportation infrastructure and systems. Officials, as essential stakeholders, need to ensure public safety, promote economic development, and establish sustainable transportation solutions.

They make substantial investments in advanced technologies and solutions spanning various transportation modes: roads, railways, air travel, and maritime transport to tackle issues like urban expansion, traffic jams, and environmental sustainability. Government-supported vital solutions encompass Intelligent Mobility Systems aimed at traffic improvement, Rail Asset Management for monitoring and maintaining infrastructure, Airport Security Solutions to boost passenger safety, and Maritime Traffic Management for streamlined port operations. For instance, nations such as the United States and China have invested heavily in high-speed rail endeavors to enhance connectivity. In contrast, European countries have emphasized smart city projects integrating advanced traffic management with public transit networks. These efforts highlight governments’ vital obligation to foster innovation, improve infrastructure, and provide citizens and businesses with reliable, efficient, and sustainable transportation options.

By Region, Europe is expected to hold the highest market share during the forecast period.

Europe will emerge with the highest number of deployments and investments in the Smart Transportation Market during the forecast period because of significant government initiatives, fast infrastructure development, and reforms focused on sustainability and smart cities. European countries are digging deeper into advanced technologies such as electric vehicles (EVs), autonomous transport systems, intelligent traffic regulation, and integrated transportation platforms to promote urban mobility and reduce carbon emissions.

Europe is a prime dynamic for smart transportation development with its emphasis on environmentally relevant projects and the EU’s further pressure to set up the grand deal and other national policies. For instance, Amsterdam and Paris have invested heavily in deploying electric vehicle infrastructure and equipment for the smart traffic management system to support urban mobility. The Horizon 2020 program of the European Union also supports research for smart mobility solutions, drawing on efforts to develop autonomous vehicles, smart public transportation systems, and sustainable mobility solutions across the region.

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Top Key Companies in Smart Transportation Market:

The major vendors covered in the Smart Transportation Market are Thales Group (France), Huawei (China), Siemens (Germany), Cisco (US), DNV (Norway), Cubic (US), Alstom (France), Toshiba (Japan), Veson Nautical (US), NEC Corporation (Japan), Bentley Systems (US), Indra (Spain), Trimble (US), TomTom (Netherlands), Conduent (US), Kapsch (Austria), Hitachi (Japan), and Descartes (Canada). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the Smart Transportation Market.

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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JA Solar Summit Highlights Shift Toward Solar-Storage Integration as Global Demand Holds Firm

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BEIJING, April 20, 2026 /PRNewswire/ — The 5th Global Solar and Energy Storage Summit 2026, hosted online by JA Solar, brought together over 20+ senior representatives from leading international organizations and industry players to share insights on the accelerating energy transition. The summit featured keynote speeches and panel discussions with influential voices from the IRENA, S&P Global, BloombergNEF, SolarPower Europe, TÜV NORD, as well as prominent utilities, developers, investors, and technology companies worldwide. With a global audience exceeding 20,000 participants from 30+ countries, the event highlighted the growing integration of solar and energy storage as central to a cleaner, smarter, and more resilient energy future.

Record-Breaking Renewable Deployment in 2025

IRENA’s Ilina Stefanova opened the summit by underscoring the scale and urgency of the global energy transition. “2025 marked a record year for renewable energy, with 692 GW of new capacity deployed globally, and solar contributing 75% of the total,” she said. However, she emphasized the need for stronger policy and investment frameworks to sustain this momentum and meet 2030 climate targets.

S&P Global’s Holly Hu followed with the latest market outlook, noting that global solar installations reached 617 GW in 2025, driven by robust activity in China, Europe, and North America. While she acknowledged potential growth moderation in 2026, Hu emphasized an industry shift from scale-dominated competition to smarter, more value-driven strategies.

Solar + Storage + X: The Future of Energy Solutions

Dr. Zi Ouyang, President of Product and Solution R&D Centre and CTO of JA Solar, delivered a keynote on how integrated solutions are shaping the next phase of clean energy deployment. He introduced “Solar + Storage + X” as the industry’s path forward, where combined technologies create new opportunities across utility-scale, commercial, and residential markets.

“The future of energy lies in integration,” said Dr. Ouyang. “Standalone solar PV systems are no longer sufficient to meet today’s increasingly complex demands. By integrating storage and advanced solutions, we can unlock significant value and provide the flexibility necessary for tomorrow’s global energy systems.” He also highlighted JA Solar’s expertise in enabling scenario-specific solutions, including AI-powered data centers, industrial parks, and remote microgrids.

Driving Value Creation Across Global Markets

Two panel discussions explored the changing dynamics of solar and storage integration.

The first, “Global Perspectives: New Value Drivers and Growth Opportunities,” discussed the industry’s pivot toward value-based development. Panelists emphasized how system efficiency, long-term performance, and financial optimization are replacing cost as priorities, with integrated solutions emerging as critical to capturing project value and market flexibility.

The second panel, “Energy Transformation Across Every Scenario: From Deserts to Cities,” explored the application of solar and storage in emerging sectors such as AI Data Centers (AIDC), mining, modern agriculture, and transportation infrastructure. Panelists highlighted innovations addressing diverse energy demands while tackling challenges like system resilience in extreme environments, from remote deserts to urban microgrids.

JA Solar’s Global Leadership in Integrated Energy Growth

The summit reflected the industry’s transition into a transformative phase defined by integration, intelligence, and scenario diversity. As the event organizer and a leading global innovator in solar technology, JA Solar reaffirmed its commitment to accelerating the adoption of high-performance, sustainable energy solutions.

“At JA Solar, we believe collaboration and innovation are fundamental to building a sustainable energy future,” said Dr. Zi Ouyang. “Through advanced technologies and strong partnerships, we aim to deliver scalable, resilient solutions that meet the evolving needs of customers worldwide.”

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SOURCE JA Solar Technology Co., Ltd.

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Ascentium Acquires Dezan Shira & Associates, Expanding its Footprint to 27 Markets and Strengthening Corporate Services Capabilities

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SINGAPORE, April 21, 2026 /PRNewswire/ — Ascentium, a leading global business services platform headquartered in Singapore, has completed its acquisition of Dezan Shira & Associates (“Dezan Shira”), a multi-disciplinary professional services firm with more than three decades of experience advising foreign investors across Asia.

This strategic move significantly expands Ascentium’s reach and capabilities across Asia, the United States, and Europe, enabling the group to guide businesses from pre-investment market assessment through long-term operations, while further deepening its advisory expertise for international businesses operating across these regions.

Expanding cross-border capabilities

With this acquisition, Ascentium now operates in 27 markets, including new locations such as Mongolia, Poland, Germany and Italy, thereby enhancing its ability to support clients with cross-border investments and multi-jurisdictional operations. The addition of Dezan Shira’s network complements Ascentium’s existing footprint in Southeast Asia, positioning the group as one of the most extensive on-the-ground advisory platforms supporting foreign investment in Asia.

This expansion further enables Ascentium to serve clients on the Chinese mainland more effectively, especially foreign investors seeking to enter or scale in this dynamic market.  Added to the established network of InCorp International, an Ascentium Company, the incorporation of Dezan Shira contributes three new offices in Suzhou, Tianjin, and Zhongshan, extending Ascentium’s presence across the Chinese mainland to 15 locations.

With a network spanning major commercial hubs including Beijing, Shanghai, Shenzhen, Guangzhou, and Tianjin, Ascentium delivers clear answers and hands-on support to help businesses navigate regulatory complexity and build a strong, compliant presence with confidence.

Deepening advisory and intelligence capabilities

Dezan Shira brings over three decades of experience advising foreign investors in Asia, with recognised strengths in regulatory analysis, business intelligence, investment structuring, tax advisory and technology-enabled solutions. These capabilities complement Ascentium’s established services in incorporation, multi-country HR and payroll, ESG and tax advisory, and fiduciary – creating an integrated platform that supports clients from market entry through long-term growth. 

Multinational enterprises, regional headquarters, and growth-oriented businesses will benefit from greater scale, deeper regulatory expertise, and a unified service platform designed to navigate complex cross-border business environments.

Asia Briefing: Business intelligence and market insights platform

The acquisition also brings Asia Briefing, Dezan Shira’s business intelligence and research arm, into Ascentium’s ecosystem. Through its Doing Business guides, digital publications, and daily regulatory analysis, Asia Briefing is the leading source for insights on market entry, compliance, regulatory developments, and business news across Asia.

The Asia Briefing platform strengthens the combined group’s ability to pair on-the-ground advisory services with timely, region-wide intelligence to support informed decision-making.

Alberto Vettoretti, Managing Partner of Dezan Shira & Associates, said, “Joining Ascentium marks an exciting new chapter for Dezan Shira & Associates. By combining our expertise with Ascentium’s global platform and execution capabilities, we can deliver even greater value to clients looking to expand and succeed in multiple markets.”

Lennard Yong, Founding Management and Group CEO of Ascentium, added, “This acquisition brings us closer to a fully connected advisory platform across Asia and beyond. With Ascentium’s execution strength and Dezan Shira’s market intelligence and regulatory expertise, we can guide businesses through every stage of expansion, from pre-investment assessment through sustained operations, whether they are entering one new market or scaling across multiple jurisdictions.”

About Ascentium

Ascentium is a leading global business services platform dedicated to helping businesses and individuals scale greater heights. Headquartered in Singapore, we drive extraordinary growth through expert people, purpose-led technology, and an unwavering commitment to service excellence.

With over 2,600 professionals across 46 cities in 23 markets globally, we deliver integrated solutions in corporate services, finance and accounting, fund administration, human resources, and fiduciary and trust services. Serving more than 63,000 client entities across diverse industries, Ascentium combines specialised expertise with innovative, technology-enabled solutions to help clients navigate complexity and unlock new opportunities for sustainable growth.

For more information, visit: ascentium.com

About Dezan Shira & Associates

Founded in 1992, Dezan Shira & Associates is a professional services firm advising foreign investors and multinational enterprises entering and operating across Asia.

The firm provides business intelligence and market entry, corporate establishment and licensing, accounting, tax advisory, payroll and HR administration, internal audit and risk advisory, as well as technology-enabled financial software and ERP solutions.

With more than 300 professionals operating from 27 offices globally, Dezan Shira & Associates maintains one of the region’s most extensive integrated advisory platforms dedicated to foreign direct investment and cross-border operations.

 

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SOURCE Ascentium

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Thunes Launches Real-Time Payments into New Zealand

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Members of Thunes’ Direct Global Network can now send real-time payments to bank accounts in New Zealand, further strengthening the company’s presence in the Asia-Pacific region.

BANGKOK, April 21, 2026 /PRNewswire/ — Thunes, the Smart Superhighway to move money around the world, today announced the expansion of its Direct Global Network with the launch of direct, real-time Pay-to-Bank services into New Zealand.

This expansion enhances Thunes’ cross-border payment capabilities in the Asia-Pacific region, providing Members of the Thunes Direct Global Network with faster and more transparent payment solutions for both consumer and business transactions. With this launch, users can easily transfer NZD directly to New Zealand bank accounts. Transactions can be made either through a direct API integration to Thunes or by leveraging existing Swift connectivity.

New Zealand is increasingly focused on upgrading its financial infrastructure to support real-time digital trade and the burgeoning gig economy. As the nation transitions to a next-generation payments ecosystem, real-time transactions are forecasted to grow at a CAGR of 21.3% through 2027.

Eugene Chua, Head of Network, APAC, at Thunes, said: “At Thunes, we’re dismantling the legacy friction that creates barriers to the global digital economy. Asia Pacific is where the Thunes story began, so we are especially pleased to be strengthening our reach in a high-growth market like New Zealand. Geography should never hinder ambition, and we are proud to be the engine driving financial connectivity, providing the infrastructure that supports and empowers businesses and individuals to benefit from international money movement and participate more fully in the global economy.”

With this expansion, Thunes reinforces its position as a leading provider of real-time cross-border payments. Its Direct Global Network leverages Thunes’ in-house SmartX Treasury System for AI-driven forecasting and real-time liquidity management, and its Fortress Compliance Platform, which benefits from over 50 licences worldwide. This ensures every payment is executed with the highest levels of security, compliance, and operational efficiency.

NOTES TO EDITORS:

Thunes will be attending Money20/20 Asia in Bangkok from April 21-23, 2026, located at booth 6005. Schedule a meeting here.

For more information about Thunes, visit: https://www.thunes.com/

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