Intelligent Transportation System Market Highlights:
The Global Intelligent Transportation System Market is expected to register a CAGR of 11.6% during the forecast period to reach USD 49 billion by 2025. Intelligent transportation system is the application of sensing, analysis, control, and communications technologies to ground transportation in order to improve safety, mobility, and efficiency. The increasing concern about traffic congestion.
The growing need for road safety improvements and government initiatives for the same also encourage the market for Intelligent Transportation System Market. The shifting of freight industry from unorganized to the organized sector is an additional factor which boosts the market.
However, the lack of proper infrastructure for implementation of it’s in developing and underdeveloped economies, and high cost for ITS safety are factors which hamper the market growth during the forecast period. The growing demand for successful implementation of connected cars technology opening doors for the intelligent transportation system. Increasing demand for ITS is expected to show the significant growth in the wireless application (that includes device and application) offers a lucrative opportunity to the key players in the global market.
Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/2076
Competitive Landscape:
The key players in the global intelligent transportation system market are identified based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. These include Roper Technologies, Inc. (US), Hitachi Ltd (Japan), Siemens AG (Germany), Thales Group (France), Xerox Corporation (US), BRISA (Portugal), Kapsch Trafficcom (Austria), Q Free (Norway), Efkon AG (Austria), Lanner Electronics Inc. (Taiwan), Denso Corporation (Japan), TomTom International BV (Netherlands), Savari Inc. (US), Nuance Communication Inc. (US) and Garmin Ltd (US). The key strategies adopted by most of the players are partnerships, agreements, and collaborations.
Market Segmentation:
The global intelligent transportation system market segmentation is based in terms of application, product, and component.
- By products, the market segments into advanced public transportation systems (APTS), advanced transportation management systems (ATMS), cooperative vehicle systems, advanced transportation pricing systems (ATPS), and advanced traveler information systems (ATIS).
- By application, the market categorizes into road safety and security, traffic management, traffic signal control, automotive telematics, freight management (commercial), collision avoidance system, parking management, road user charging, environment protection, public transport, and traffic enforcement camera.
- By components, the market divides into software, sensor, telecommunication network, surveillance camera, monitoring and detection system, interface board, and others.
Regional Analysis:
The global intelligent transportation system market covers the following geographical territories in its regional segmentation: North America, Europe, Asia Pacific, and the Rest of the World (RoW).
The global market was spearheaded by North America back in 2016 with the highest share percentage followed by Asia Pacific. The regional market is further expected to hold onto its primal standings in the intelligent transportation system market over the forecast period.
The European region is another key market in the global landscape and is slated to garner a CAGR of 12.83% during the forecast period. The Asia Pacific, standing second in the global rankings, is anticipated to grow at a decent pace of 8.675 over the forecast period. However, the valuation of the regional market is projected to reach USD 12.10 billion by the end of 2022, jumping from its previous valuation of USD 5.65 billion back in 2016.
The Intelligent Transportation System technology is being deployed across the globe with the aim of ensuring optimal effectiveness, safety, and efficiency in the entire road transportation system. The technology finds its successful deployment in various developed nations and regions like Singapore, Japan, the United States, and the United Kingdom. The government therein have a clear-sighted motive of enhancing the performance level of the transportation system by ensuring the safety as well as the convenience of travelers and controlling conjunction.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/intelligent-transportation-system-market-2076
Table of Contents
1 Market Introduction
1.1 Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Type
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
Continued…..
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/intelligent-transportation-system-market-2076