Published Date : Jun 14, 2016
Smart transportation utilizes artificial intelligence and information technology to efficiently manage and coordinate transportation systems. Smart transportation networks help commuters with real time updates of traffic. These networks ensure safety of drivers and assist in the parking of vehicles with the easy identification of parking spots and proper utilization of space. The rise in the concept of smart cities and the growing need for safe and secured transportation have supported the growth of the global smart transportation market. However, the lack of data availability and high initial investment are some of the key factors restricting the growth of the market. The market has a significant scope of growth in the years to come with the growing demand for smart services across various regions.
Driverless Cars are an Important Constituent of Smart Transportation Network
In the U.S., San Francisco and other six cities are vying for a chance to become the first city in the country to be fully equipped with smart transportation network. The chosen city will be receiving private and federal funding to integrate driverless cars, smart sensors, and connected vehicles into their transportation network. The Smart City Challenge initiated by the U.S. Department of Transportation has emphasized on eliminating or significantly reducing traffic congestion, carbon emissions, and traffic fatalities.
It is interesting to note that driverless cars are an important constituent of the smart transportation plan. Presently, 12 companies are testing driverless vehicles across the Bay Area. Through this challenge, the U.S. Department of Transportation is aiming for upgrading the ageing transportation infrastructure across the participating cities and make the roadways pedestrian and bicycle-friendly. The winning city in this challenge will receive funds worth US$40 mn for connecting transportation assets into an interactive network.