Global Intelligent Transportation System Market – Industry Challenges, Key Vendors, Drivers, Trends and Forecast to 2022
Global Intelligent Transportation System Market is expected to reach USD 42.6 billion in the year 2022. Rising need for public Safety & Effective Traffic Management are some of the key factor which is supporting the Market of Intelligent Transportation System. Intelligent Transport Systems (ITS) include Traffic and Congestion Monitoring and Management Systems, with an Integration of Traffic Control Centers. Access Control and Route Guidance Systems offer a range of benefits for a city. Goods delivery companies often introduce ITS because they can optimize trips with the combination of global positioning system (GPS) technologies and existing logistics programs. Such traffic management and control systems have significant efficiency benefits for both public and private transport. Therefore they make an effective contribution to the sustainable city goals. These are the factors driving the market with authentic need of public safety. It is expected that the market will grow at CAGR of 12.2% during the forecast period and expected to reach market size of US 42.6 billion by the end of forecast period.
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- Roper Technologies, Inc. (U.S.),
- Hitachi Ltd. (Japan),
- Siemens AG (Germany),
- Thales Group (France),
- Xerox Corporation (U.S.),
- BRISA (Portugal),
- Kapsch Trafficcom (Austria),
- Q Free (Norway),
- EFKON AG (Austria),
- Lanner Electronics Inc.(Taiwan),
- Denso Corporation (Japan),
- TomTom International BV (Netherlands),
- Savari Inc.(U.S.),
- Nuance Communications Inc.(U.S.),
- Garmin Ltd.(Switzerland)
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Segments for Intelligent Transportation System Market:
- Segmentation by Type: Advanced Transportation System, Advanced Public Transportation System, Advanced Transportation Pricing System, Cooperative Vehicle Systems and others.
- Segmentation by Component: Sensors, Surveillance Camera, Software, Interface Board, Monitoring & Detection System, and others.
- Segmentation by Applications: Telematics, Traffic Management, Parking Management, Environment Protection, Traffic Signal Control, Road Safety & Security and others
Taste the market data and market information presented through more than 50 market data tables and figures spread over 100 Numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Intelligent Transportation System Market- Global Forecast to 2022”
Market Research Analysis:
Market Research Future Analysis shows that Intelligent Transportation System Market has huge opportunities in the upcoming future. Advanced Traffic Management System (ATMS) is leading the ITS market and is expected to dominate the market during forecast period due to its special functions such as real time monitoring, traffic camera monitoring, road weather information monitoring and incident monitoring, traffic signal controlling, and automatic warning. Advanced Public Transportation Systems (APTS) is also expected to witness rapid growth during the forecast period. Traffic management applications dominate the ITS market and expected to continue its growth during the forecast period. Environment protection and road user charging are expected to be the fastest growing segments.
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