The global Intelligent Transportation System (ITS) Market is expected to reach USD 48.17 Billion by 2027, according to a new report by Emergen Research. The increasing number of on-road vehicles and inefficient existing transport infrastructure will encourage the need for an intelligent transportation system. Actions by the government towards establishing a more reliable infrastructure and running the transport system easily are anticipated to grow the market globally.
The Global Intelligent Transportation System Market research study published by Emergen Research is an extensive collection of insightful information about the Intelligent Transportation System industry. The report covers the Intelligent Transportation System Market segmentation along with a detailed outline of the Intelligent Transportation System market size with regards to volume and valuation. The report provides comprehensive coverage of the Intelligent Transportation System market scenario for the current period and forecast timeline of 2020-2027. The Intelligent Transportation System market report contains an in-depth analysis of the historical, current, and projected revenues for every industry vertical, segment, end-use industries, applications, and regions.
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Market Dynamics:
The report offers insightful information about the market dynamics of the Intelligent Transportation System market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Intelligent Transportation System market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Intelligent Transportation System market.
Key Highlights From The Report
- Roadways are considered the fastest-growing segment in the intelligent transport system market. The rise in the number of commercial and manufacturing activities will encourage market players to deploy proper asset management and monitoring systems.
- The advanced traffic management system held the largest market share in the ITS market. This is due to the growing traffic congestion on roads and an increase in the affordability of vehicles. The availability of favorable deals by the automotive manufacturers and changing lifestyle will lead to traffic congestion. This is expected to foster the segment’s demand.
- The growth in demand for driving assistance and the automatic driving system will support the demand for Intelligent Transportation System. Moreover, factors such as the need to reduce traffic on roads and an increase in government funding will propel the demand.
Key Questions Answered by the Report:
- Which region is expected to dominate the market in the coming years?
- What are the recent technological and product advancements occurring in the market?
- What are the key strategies adopted by the prominent players in the Intelligent Transportation System market?
- What are the key product types and applications of the Intelligent Transportation System industry?
- What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
- How is the competitive landscape of the Intelligent Transportation System market?
- Who are the key players in the industry?
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Global Intelligent Transportation System Market Research Report: Information by Product Application (Automotive Telematics, Traffic Management, Collision Avoidance System, Road User Charging, Road Safety and Security, Traffic Signal Control, Freight Management (Commercial), Parking Management, Public Transport, Environment Protection and Traffic Enforcement Camera), Component and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2025Intelligent Transportation System MarketGlobal Intelligent Transportation System Market is expected to reach US $42.6 billion in the year 2022.
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.
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.Access Report Details @Intelligent Transportation System Market by Type, Growth and Forecast – 2024 | MRFRIntelligent Transportation System Market is expected to register a CAGR of 11.6% over the precast…Read on marketresearchfuture.comKey Players: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).Market Research Analysis:Market Research Future Analysis shows that Intelligent Transportation System Market has huge opportunities in the upcoming future.
Advanced Public Transportation Systems (APTS) is also expected to witness rapid growth during the forecast period.
OverviewIntelligent Transportation System Market is expanding at a consistent pace globally.
The importance of ITS systems is bound to be very high in economically developing and backward regions as they have amplified levels of traffic volumes which need to be managed effectively to empower growth of these regions.
The drivers that are fuelling growth of the ITS sector are rising traffic congestions, renewed focus on road safety, urban planning challenges and shift of the freight industry to an organized sector.
Lack of awareness about the benefits of ITS especially in developing countries and limited research related to the sector may create limitations for ITS sector’s growth.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/2076Latest Industry News:Dec 2017 Continental and Avis Budget Group announced recently that they're testing an entirely keyless rental-car system.
Currently, the pilot program is limited to a single market -- the Kansas City area in USA but is likely to roll out to additional markets in the future if the trial goes according to plan.
This particular Continental's intelligent transportation systems offering relies on Continental's Key-as-a-Service technology, which doesn't require any change to the circuitry or the underpinnings of the car itself.Dec 2017 An intelligent transport system is set to be rolled out in Nairobi which will drastically reduce the traffic jams in the city.
Intelligent Transportation System MarketThe global intelligent transportation system market is accelerating mainly due to the growing concerns for safety and the demand for the smart systems that can ease the traffic congestions.
Simultaneously, rising government initiatives such as increasing number of infrastructure development projects and smart road and highway projects escalate the market growth on the global platform.Acknowledging the exponential accruals and demand the market is enjoying currently; Market Research Future in its recently published study report asserts that the global intelligent transportation system market will accrue up to USD 42.67 Bn.
by 2023 registering approximately 12.21% CAGR between 2016 and 2022.Lately, intelligent transportation systems have started gaining attention attributing to the concerns associated with the traffic management which is deteriorating with each day passing by, demanding adept and appropriate systems to handle the traffic scenarios efficiently and automatically.
And, as the demand augments, along with it vibrates the ITS market gaining further traction.Besides, the technological advancements transpired in the field of ITS coupled with the demand for more efficient, responsive, and unconventional safety systems are fostering the market growth, allowing accessibility and availability of the variety of automatic devices and the automatic traffic handling tools.
For instance: travel information helps travelers to avoid jamming, promoting a better use of existing road capacity and subsequently improving traffic conditions.Intelligent Transportation System helps the driver to detect and avoid dangerous driving situations.
This system is used for improving the enforcement on roads and highways.
