According to the latest reports from Marketsandmarkets, the smart transportation market size is estimated to be USD 75.00 billion in 2018 and expected to reach USD 149.21 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period.
The major factors expected to drive the growth of the smart transportation market cited by the analysts include the rising urban population and high demographic rates, the growing adoption of connected and smart technologies in the transportation infrastructure, and the increase in free trade agreements. Government initiatives for smart cities and government authorities are adopting Public Private Partnerships (PPP) working models, which is also propelling the growth of the smart transportation market.

The airways segment is expected to grow at the highest CAGR during the forecast period. The demand for aviation services has increased significantly in the last decade. With the improvement in living standards and reduction in the cost of air travel, air transport has become affordable to many more people. It has increased the demand for commercial aircraft. New technologies and digitalisation of services are driving the airlines industry to ensure smooth maintenance, reduce operating costs, and take advantage of the increase in air travel.

The solution subsegment in the roadways segment is expected to account for the larger market share during the forecast period. The solution subsegment includes passenger information, traffic management, smart ticketing, parking management, freight information, and vehicle telematics.

According to Marketsandmarkets, the APAC area is expected to be the fastest-growing region for the smart transportation market during the forecast period, due to the increase in the adoption of new technologies, high investments for digital transformation, and rise in Gross Domestic Product (GDPs) of countries in the region. The majority of the potential economies in this region, such as Australia, Singapore, China, Korea, Hong Kong, and India, are said to be rapidly investing in technological transformation for improving infrastructure and implementing various smart city projects. Untapped potential industries, high penetration of advanced technologies, growth in freight use in various industry verticals, and economic developments and government regulations are expected to drive the smart transportation market growth at the highest rate during the forecast period.

Major vendors covered in the smart transportation market report include Thales, Huawei, Siemens, IBM, Cisco Systems, SAP, Alstom, Bombardier, Saab, ANPC, Bentley Systems, Indra Sistemas, Hitachi and Rockwell Collins amongst others.

The global building analytics market is expected to grow from USD 5.94 billion in 2018 to USD 11.10 billion by 2023, at a CAGR of 13.3% during the forecast period. This is according to the latest market research information from Marketsandmarkets.
The key growth drivers for the market include an increasing demand for energy efficient systems and a growing focus on decreasing operational costs.

Among building types, the commercial buildings segment is expected to continue to hold the largest market size during the forecast period. Major growth factors for the building analytics market in the segment include the development of large shopping malls, auditoriums, and marriage halls encouraging the owners and operators to install building analytics software and services in new as well as old buildings and the proliferation of IoT which facilitates to draw valuable insights from large volumes of data.

The cloud deployment model witnesses an increasing demand, due to its cost-effectiveness and easy availability. Cloud-based building analytics software and services offer various advantages, such as scalability, adaptability, and easy deployment, which will promote the adoption of the cloud among organisations.

APAC is expected to constitute a significant share in the building analytics market and is expected to grow at the highest CAGR during the forecast period, owing to the high economic growth in the major APAC countries. Companies in North America and Europe have already adopted the building analytics software and services and are investing heavily in R&D for innovations. Hence, these regions are expected to generate the majority of the revenues in the market.

Major vendors providing building analytics software and services included in the report include, Honeywell, IBM, Johnson Controls, Schneider Electric, General Electric, Siemens, ENGIE Insight Services, Lucid, Enecnoc, BuildingIq, Iconics, Senseware, KGS Buildings, Buildinglogix, Lutron Electronics, Coppertree Analytics, Ecovox, Gridpoint, Energy Advantage, Delta Electronics, Buildpulse, Crestron Electronics, Pointgrab, Verdigris, and Noveda Technologies.

The fire suppression market is estimated by Marketsandmarket to be worth USD 22.97 billion in 2018 and is projected to reach USD 29.13 billion by 2023, at a CAGR of 4.87% between 2018 and 2023, according to the research company’s latest report.
Key factors such as technological advancements and innovations in the construction industry; increasing policies, regulations, and government mandates; and increased damage to human life and property due to fire breakouts are driving the fire suppression market growth.

Fire suppression reagent FM200 is thought to hold the largest market share of this sector between 2018 and 2023. FM200 is a clean, colourless, and environmentally friendly fire suppression agent that is electrically nonconductive and safe for humans. It extinguishes flame primarily through heat absorption, leaving no residue, and thus minimizing downtime after a fire. FM200 agent is stored in a cylinder as a liquid and pressurised with nitrogen, which makes it a highly compact fire suppression system. The use of FM200 does not affect aluminum, brass, steel, cast iron, lead, stainless steel, copper, etc., as well as rubber, plastic, and electronic components. Due to this, it is used in telecommunication facilities, computer rooms, control rooms, museums and art galleries, historical archive storage, and pharmaceutical and medical facilities.

In terms of industrial sectors, the oil & gas and mining is forecast to hold the largest share of fire suppression market between 2018 and 2023. The use of fire suppression systems is prevalent in the oil & gas industry. Hence, the decrease in investment in the industry affects the fire suppression market. However, various existing fire detection and suppression systems used in the industry need regular maintenance, repair, and replacement of parts due to protocols established in the industry, which would result in the growth of the fire suppression market. Oil & gas companies are focusing on improving operational efficiency, and companies are expected to be streamlined in terms of improving operational efficiency and working with fewer resources after they overcome the current oil price situation.

Asia Pacific held the largest share of the fire suppression market in 2017. Rising urbanisation in emerging markets such as China, India, Indonesia, and Nigeria is expected to accelerate infrastructure spending for vital infrastructure sectors, which include transportation, water & wastewater treatment, and power. This, in turn, will urge infrastructure financing toward consumer sectors, which would include manufacturing and transportation that facilitate the production and distribution of raw materials for consumer goods. In India and Japan, substantial rebound in transportation spending, which includes rail and air upgrades, is expected to triple the annual infrastructure spending in the aforementioned sectors. The expansion of the manufacturing base in Asian countries has also led to the growth of the fire suppression market.

Companies cited by the researchers as being major players in the fire suppression market are Johnson Controls, United Technologies, Robert Bosch, Siemens, Halma, Hochiki, Firefly, Minimax Viking and Honeywell amongst others.