Global Intelligent Transportation System (ITS) Market was valued US$ XX Bn in 2018 and is expected to reach US$ 54.3 Bn by 2026, at CAGR of XX% during forecast period.
According to the report, road traffic-related deaths have been increasing in the past few years. The usage of ITS to reduce road accidents and to increase safety are the major driving forces for the ITS market. The demand for Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) communication to enhance road safety is expected to gain momentum during the future. Furthermore, the increasing number of megacities and the population growth in emerged and emerging countries has increased the importance of deploying an intelligent transport system (ITS).
ITS system establishes both, road transport and metro or underground rail system. ITS involves the refurbishment of overall technological aspects like GPS, Carrier Access for Land Mobiles (CALM), Dedicated Short Range Communication (DSRC) etc. The important driving factor for the market is the concerned government departments understand the importance of implementing an efficient ITS system. Therefore, these departments are formulating specific programs and taking initiatives to implement the system. For example, the U.S. Department of Transport (DOT) is focusing on intelligent infrastructure, intelligent vehicles and integration of these two factors.
The DOT has started a Federal ITS program that would make research initiatives, investigative study and support the deployment of the system through systematic investment. Additionally, an efficient transport system would assist in controlling traffic congestions and increase environmental benefits by reducing pollution, and these factors act as other major drivers for the market. At the same time, the major restraint for the market growth is the slow growth of infrastructure, especially in the developing regions of the world due to the high cost of installation. Another key restraint for the growth of the market is the lack of standards and negligible interoperability between the various modes of transport and technologies. To address these challenges, various government sectors and key players in the market are forming strategic private-public partnerships. Furthermore, the major opportunity for the market lies in the development of smart vehicles that would operate on intelligently controlled roads by deploying state of art infrastructure and latest technologies. By offering, the hardware intelligent transportation system market is projected to hold the highest market share in 2026. The hardware segment mainly contains various detectors, sensors, cameras, and telecom networks to gather information related to the vehicle and its surroundings.
The use of IoT sensors and advanced communication technologies enable the real-time collection and processing of data to assist traffic authorities in making informed decisions about managing the traffic. The implementation of these devices to support the smart transport infrastructure is anticipated to boost the demand for hardware components. Among the regions, North America held the largest market share in the global intelligent transportation system (ITS) market and is expected to maintain its dominance during the forecast period. Presence of major key players of intelligent transportation systems and increasing adoption of smart parking management and advanced public transport systems are factors boosting the growth of the North America intelligent transportation system (ITS) market. The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global intelligent transportation system (its) market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global intelligent transportation system (its) market.
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Scope of Global Intelligent Transportation System (ITS) Market:
Global Intelligent Transportation System (ITS) Market, By Offering:
• Hardware • Software • Services
Global Intelligent Transportation System (ITS) Market, By System:
• Advanced Traveler Information System • Vehicle-to-Vehicle Interaction and Vehicle-to-Infrastructure Interaction • Advanced Traffic Management System • Advanced Public Transportation System (APTS) • Commercial Vehicle Operation • ITS ‐ Enabled Transportation Pricing System
Global Intelligent Transportation System (ITS) Market, By Type:
• ATIS • ATMS • ATPS • APTS • EMS
Global Intelligent Transportation System (ITS) Market, ByApplication:
• Fleet Management and Asset Monitoring • Intelligent Traffic Control • Collision Avoidance • Parking Management • Passenger Information Management • Ticketing Management • Emergency Vehicle Notification • Automotive Telematics
Global Intelligent Transportation System (ITS) Market, By Region:
• North America • Europe • Asia-Pacific • South America • Middle East & Africa
Key Players Operated in Market Include:
• Affiliated Computer Services, Inc. • Denso Corporation • Agero, Inc. • Addco Llc • Lanner Electronics, Inc. • Nuance Communications, Inc. • Ricardo Plc • Sensys Networks, Inc. • Telenav, Inc. • Efkon AG • Thales Group. • Advantech Co., Ltd. • Bestmile SA • Clever Devices Ltd. • ETA Transit Systems • GMV Group • Hitachi, Ltd. • Kapsch Trafficcom • Lanner Electronics • Moxa Inc.
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The latest trending report Global Intelligent Transportation System (ITS) Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The global Intelligent Transportation System (ITS) market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 7.8% in the forecast period of 2020 to 2025 and will expected to reach USD 1187.4 million by 2025, from USD 878.6 million in 2019.The Intelligent Transportation System (ITS) market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/37769-intelligent-transportation-system-its-market-analysis-reportThe major players covered in Intelligent Transportation System (ITS) are:ThalesEfkonKapsch TrafficcomSiemensQ-FreeGarminDensoCubicTomtom InternationalFlir SystemsNutonomyGeotollBestmileElectricfeelDoublemapBy Type, Intelligent Transportation System (ITS) market has been segmented into: Advanced Traffic Management System Advanced Traveler Information System ITS-Enabled Transportation Pricing System Advanced Public Transportation System Commercial Vehicle OperationBy Application, Intelligent Transportation System (ITS) has been segmented into: Fleet Management and Asset Monitoring Intelligent Traffic Control Collision Avoidance Parking Management Passenger Information Management Ticketing Management Emergency Vehicle Notification Automotive TelematicsThe report offers in-depth assessment of the growth and other aspects of the Intelligent Transportation System (ITS) market in important countries (regions), including: North America (United States, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia) South America (Brazil, Argentina, Colombia) Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)Download Free Sample Report of Global Intelligent Transportation System (ITS) Market @ https://www.decisiondatabases.com/contact/download-sample-37769There are 14 Chapters to deeply display the global Intelligent Transportation System (ITS) market.1 Intelligent Transportation System (ITS) Market Overview2 Company Profiles3 Global Intelligent Transportation System (ITS) Market Competition, by Players4 Global Intelligent Transportation System (ITS) Market Size by Regions5 North America Intelligent Transportation System (ITS) Revenue by Countries6 Europe Intelligent Transportation System (ITS) Revenue by Countries7 Asia-Pacific Intelligent Transportation System (ITS) Revenue by Countries8 South America Intelligent Transportation System (ITS) Revenue by Countries9 Middle East and Africa Revenue Intelligent Transportation System (ITS) by Countries10 Global Intelligent Transportation System (ITS) Market Segment by Type11 Global Intelligent Transportation System (ITS) Market Segment by Application12 Global Intelligent Transportation System (ITS) Market Size Forecast (2021-2025)13 Research Findings and Conclusion14 AppendixPurchase the complete Global Intelligent Transportation System (ITS) Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-37769Other Reports by DecisionDatabases.com:Global Animal Transportation Market 2019 by Company, Regions, Type and Application, Forecast to 2024Global Intermodal Freight Transportation Market 2020 by Company, Regions, Type and Application, Forecast to 2025Global Perishable Goods Transportation Market 2020 by Company, Regions, Type and Application, Forecast to 2025About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
DecisionDatabases.com is proficient in providing syndicated research report, customized research reports, company profiles and industry databases across multiple domains.Our expert research analysts have been trained to map client’s research requirements to the correct research resource leading to a distinctive edge over its competitors.
We provide intellectual, precise and meaningful data at a lightning speed.For more details:DecisionDatabases.comE-Mail: [email protected]: +91 9028057900Web: https://www.decisiondatabases.com/
The report includes basic information along with advanced market statistics of the global Intelligent Transportation System (ITS) market.
Accurate information about the market dynamics along with future growth prospects are analyzed in the report.
Data experts analyze the market information and come up with detailed insights revealing operating margins, competitive landscape, key industry trends and the factors impacting the global Intelligent Transportation System (ITS) market.
Different strategies undertaken by market players in order to get a competitive advantage over their competitors and increase their global market reach are also studied comprehensively in the report.The chapter on market dynamics includes market drivers, restraints, and opportunities which help familiarize with market potential and upcoming opportunities.
The chapter on key insights includes emerging trends from major countries, latest technological advancement, regulatory landscape, SWOT analysis, and porters five forces analysis.
The chapter on competitive analysis includes profiling of leading companies in the global market to map the leading companies and their focus of interest in the market.For More Enquiry and Discount related quarries: https://www.datalibraryresearch.com/enquiry/intelligent-transportation-system-its-market-1961SegmentationThe global Intelligent Transportation System (ITS) market has been segmented on the basis of production, region, market share and so on.
May 09, 2019: The global intelligent transportation system (ITS) market is expected to reach USD 66.5 billion by 2024, according to a new report by Grand View Research, Inc.The usage of ITS to reduce road accidents and increase safety is a major driving force for the ITS market.Demand for Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) communication in order to enhance road safety is expected to gain momentum over the forecast period.The continuous progression and development have become a crucial need for betterment of road networks in the transportation systems.
Enhancement in vehicle transport technology such as blind spot detection and electronic toll collection has continued to redefine the current opportunity and future prospects of sustainable traffic and transport management.Download sample Copy of This Report at: https://www.radiantinsights.com/research/intelligent-transportation-system-its-market-analysis-and-segment-forecasts-to-2020/request-sample Additionally, congestion cost is a major issue for any nation in terms of fuel consumption and travel time.
ITS and connected car technology is transforming mobility and safety on highways by avoiding crashes and reducing fatalities.
As a result, there is a strong focus on deployment of advanced traffic systems and reducing the number of road accidents, which can be facilitated through ITS solutions.Further key findings from the report suggest:The ATMS is expected to remain the largest segment owing to the rising need to access real-time information captured by cameras and sensors.This system allows transport agencies to enable safe traveling by identifying and responding rapidly to the emergencies with real-time decision support tools.View summary of this report @ https://www.radiantinsights.com/research/intelligent-transportation-system-its-market-analysis-and-segment-forecasts-to-2020 Traffic management application is expected to grow at a CAGR of 12.1% from 2016 to 2024.Growing needs to minimize traffic congestion and pollution levels are boosting the need for traffic management solutions.The North America ITS industry is anticipated to reach USD 26.29 billion by 2024.
Increased government focus on passenger safety and implementation of traffic management projects and initiatives are propelling the demand for intelligent transportation system.Asia Pacific is anticipated to be the fastest-growing region, growing at a CAGR of over 15.7% from 2016 to 2024.
Increasing deployment of these systems propelled by the robust telecom and IT infrastructure has minimize transport-related issues in economy such as India.Key players in the intelligent transportation system market include Kapsch TrafficCom AG, Iteris Inc., Thales Group, TomTom NV, Garmin International Inc. and Q-Free ASA.
The growth sectors of the Intelligent Transportation System (ITS) Market are identified with precision for a better growth perspective.Intelligent Railway Transport System (IRTS) is an emerging concept in various countries in field of railway industry.
Currently, the railway relies on the radio network and the GPS system for effective implementation of intelligent transport system but by the implementation of IRTS the operation of railway will become more efficient and will also helps to reduce the time and cost.
The market of intelligent railway transportation system is majorly driven by benefits offered such as high security for the passengers and high service quality.
The ability of IRTS to regulate the road traffic near railway track signals is also one of the driving factor of the global market.Industry NewsNovember, 2017, Spheron-VR AG, known globally as pioneers in HDR (High Dynamic Range) camera technology and experts in visual content management software, announce its SceneWorks division is today launching the latest version of their SceneCenter Forensic and SceneCenter Framework visual content management software.
This insight will help rail operators across the U.S. improve their operations and create an “Internet of Trains” to bring infrastructure and vehicles into the digital era.
Powered by software tools, the Digital Service business will help rail operators reduce unplanned downtime, improve operational efficiency, enable improved business planning and performance, as well as generate energy and cost savings.
June 17, 2019: The global intelligent transportation system market size is projected to reach USD 51,09 billion by 2025, at a CAGR of 10.5% over the forecast period, according to a new report by Radiant Insights, Inc. Road traffic related deaths have been increasing over the past few years.
The usage of ITS to reduce road accidents and to increase safety, in general, is a major driving force for the ITS market.
The demand for Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) communication to enhance the road safety is expected to gain momentum over the next few years.An effective transportation system is critical for the socio-economic development of any country.
ITS associations estimate that the use of systems, such as the Advanced Traffic Management Systems (ATMS) effectively reduce the travel time by 25% and the waiting time at a signal by 20% to 30%.
They also help curb emissions of greenhouse gasses such as methane, carbon dioxide, and nitrous oxide.
The use of Electronic Tolling Systems (ETS) and ramp metering systems also helps reduce the traffic congestion and maintain the overall traffic flow.
