Intelligent Transportation Systems (ITS): Market Trends, 2018 Analysis and 2025 Forecasts by Product, Application, Technology and Global Regions
Dallas, TX -- (ReleaseWire) -- 11/21/2018 --An exclusive Intelligent Transportation Systems (ITS) market research report created through broad primary research (inputs from industry experts, companies, and stakeholders) and secondary research, the report aims to present the analysis of Global Intelligent Transportation Systems (ITS) Market By Type, By Application, By Region - North America, Europe, South America, Asia-Pacific, Middle East and Africa. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the global Intelligent Transportation Systems (ITS) market. Additionally, the report also highlights market entry strategies for various companies across the globe.
Intelligent Transportation Systems (ITS) enhances the overall performance of a transportation network, augments the consumption of fuel, lets multimodal transport and assists in decreasing the risk of road accidents. It accomplishes this by assimilating the transportation network with Information and Communication Technology. The escalating number of megacities combined with the increasing population in developing as well as developed countries has elevated the significance of arraying ITS.
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Intelligent Transportation Systems (ITS) Market Players:
· Thales Group
· Affiliated Computer Services
· Efkon AG
· Denso Corporation
· Agero, Inc.
· Addco Llc.
· Lanner Electronics
· Nuance Communications
· Ricardo Plc
· Sensys Networks
· Telenav Inc.
By Product Type
· Commercial Vehicle Operation
· Advanced Traveler Information System
· Vehicle-to-Vehicle Interaction and Vehicle-to-Infrastructure Interaction
· Advanced Traffic Management System
· Advanced Public Transportation System (APTS)
· ITS ? Enabled Transportation Pricing System
· Traffic Enforcement Cameras
· Variable Traffic Message Signs
· Parking Availability Systems
· Traffic Signal Control Systems
· Traffic Monitoring
· Collision Avoidance Systems
· Fleet Management & Asset Monitoring
· Other Application
· North America
· South America
· Middle East and Africa
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One of the major market driving factors is the fact that on a global level several governments acknowledge the key implementation of installing an efficient ITS system. Hence, they are curating particular programs and undertaking go-aheads to array the said system. For instance, the United States Department of Transport (DOT) is aiming on intelligent vehicles, intelligent infrastructure and assimilating both these factors. The U.S. DOT has begun a Federal ITS program which would make research moves, analytic examination and assist the deployment of the system via investment done in a systematic manner. Moreover, a potential transport system will help in curbing traffic snarls and benefit the environment by decreasing the pollution and such factor contribute to the market in a very significant way.
The global ITS market is also said to have a few considerable market restraining factor such as growth of infrastructure in a leisure manner specifically in developing regions across the globe owing to the lack of cost efficiency for installation purpose. Negligible interoperability and shortage of standards between several transportation and technologies. In order to focus and find a solution to these challenges, prime market players along with several governments are forming tactical private-public partnerships.
Regional and Competitive Analysis:
During the forecast period, the Asia Pacific Intelligent Transportation System market is anticipated to showcase highest CAGR. This growth is due to the escalation in imparting ITS in several countries like China, India and Australia. In 2015, North America lead the global market in terms of revenue.
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