IMARC Group’s report titled “Vietnam Smart Transportation Market Report by Solution and Services (Solution, Services), Transportation Mode (Roadways, Railways, Airways, Maritime), Application (Mobility as a Service, Public Transport, Transit Hubs, Connected Cars, Video Management, and Others), and Region 2024-2032“, Vietnam smart transportation market size is projected to exhibit a growth rate (CAGR) of 6.99% during 2024-2032.
The initiative taken by government authorities to modernize the transportation infrastructure of the country to enhance urban mobility and reduce traffic congestion are the factors responsible for the growth of the Vietnam smart transportation market. Additionally, key elements fueling this growth include the deployment of intelligent transportation systems (ITS) that integrate information and communication technology along with transport infrastructure and vehicles. Furthermore, increasing urban populations and economic growth necessitate advanced solutions to manage the rising demand for public and private transportation services, efficiently contributing to the expansion of the market.
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Vietnam Smart Transportation Market Trends and Drivers
Another significant driver for Vietnam smart transportation market is the push towards reducing environmental impact and enhancing the quality of urban living. In addition to this, smart transportation technologies play a major role in achieving these objectives by fostering the use of electric and hybrid vehicles, facilitating efficient public transit systems, and supporting non-motorized modes of transport, which positively impacts the market. Moreover, initiatives like the development of smart city projects in major urban centers such as Hanoi and Ho Chi Minh City, including substantial investments in smart transportation, are acting as another growth-inducing factor. Apart from this, the collaboration between municipalities and international tech firms is fostering innovation and technology transfer, leading to the rapid utilization of smart solutions in the transportation sector, which is expected to drive the Vietnam smart transportation market in the coming years.
Vietnam Smart Transportation Report Segmentation:
Solution and Services Insights:
- Solution
- Hybrid Ticketing Management System
- Parking Management and Guidance System
- Integrated Supervision System
- Traffic Management System
- Others
- Services
- Business Services
- Professional Services
- Cloud Services
Transportation Mode Insights:
- Roadways
- Railways
- Airways
- Maritime
Application Insights:
- Mobility as a Service
- Public Transport
- Transit Hubs
- Connected Cars
- Video Management
- Others
Regional Insights:
- Northern Vietnam
- Central Vietnam
- Southern Vietnam
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