If you watch the video interview above with Terry Duncan of Mahindra GenZe, you’ll hear more about social changes, especially urbanization around the world, that is impacting transportation. Consumers and organizations want to know their alternatives and are willing to integrate these transportation modes into their lifestyles, including fleet and personal vehicles, transit, biking, and walking. It’s typically referred to as “smart transportation” and is being embraced by automakers, government agencies, and transportation professionals.
Navigant Research issued a report on smart transportation covering global smart city projects around the world. This came out soon after the annual Meeting of the Minds took place in Toronto last month. Meeting of the Minds has been bringing together urban sustainability and connected technology stakeholders since 2007.
Navigant Research thinks the global smart city technology market will grow from $6.1 billion in revenue last year to $20.2 billion by 2020. New projects include investment in smart grid, urban mobility, water management, and government service applications for smart cities. Forecasters see urbanization as a major trend around the world impacting transportation in significant ways.