In line with the development of smart cities, the world also seeks smarter commute. Intelligent transportation system (ITS) has been emerging as a viable solution to achieve improved road safety, and enhanced operational performance of the overall transport system. The ITS is also being increasingly perceived as a preferred means to mitigate the environmental damage posed by inefficient transport systems. Robust government support is expected to be critical to the growth of global intelligent transportation system (ITS) market, says a new upcoming report of Fairfield Market Research. The report states that the government support would unlock fresh revenue streams for the most prominent participants in ITS market.
To Read Complete Report of Intelligent Transportation System (ITS) Market: https://www.fairfieldmarketresearch.com/report/intelligent-transportation-system-its-market
ATMS Remains Most Sought-after
Advent of AI has been responsible for introducing next-level innovations in intelligent transportation systems, which has further triggered adoption of emerging technologies to achieve uniformity, and efficient management of road transport issues. This is likely to unlock new opportunistic avenues in global market space. Among advanced traveller information systems (ATIS), advanced public transportation systems (APTS), advanced traffic management systems (ATMS), commercial vehicle operations (CVO) systems, and ITS-enabled transportation pricing systems, the primary report findings indicate continued dominance of ATMS. This strong market position of ATMS is clearly attributed to unprecedentedly high traffic congestion on roads that eventually leads to some serious public safety concerns worldwide.
Lack of International Standards Continues to Challenge Market Expansion
Lack of standardisation will continue to be the most significant challenge facing the global market in long term. While the ITS infrastructure demands integration of various heterogeneous devices, it can typically lead to compatibility issues. Moreover, multiple onboard unit (OBU) devices that are used across countries also will remain the longstanding challenge in terms of compatibility. The inability of electronic toll collection OBUs to receive or transmit messages, and the problems in display units further continue to act as the other major limiting factors facing market.
There has been a noteworthy effort by several international organisations toward the development and implementation of sound frameworks that focus on harmonising the ITS architecture. Increasing research around the facilitation of interoperability through suitable ITS reference architecture is further expected to uphold market growth in future. Such developments are likely to encourage public-private collaborations in global intelligent transportation system market. This is further projected to open headways for strategic business partnerships, as well as unlock a wealth of innovation opportunities in the market.
North America’s Dominance Prevails, Asia Pacific Emerges as a Strong Potential Market
The global technology hub, and the epicentre of R&D initiatives and innovations, North America continues to dominate global ITS market space. The region is also expected to leverage the strong presence of some of the globally leading brands in industry. The supportive government regulations, and favourable legislator framework will further strengthen the positioning of North America as the globally leading region in intelligent transportation system landscape. On the other hand, Asia Pacific has been recently emerging as a strong potential market for the establishment of intelligent transportation systems as the key nations, i.e., China, Japan, and India hold the promise to expand their regional ITS markets. Rampant traffic congestion, sharply increasing vehicle parc, rising issues around road safety, transport-related environmental hazards, and an exponential rise in the rate of vehicle ownership will give a collective push to ITS penetration across these nations.
Key Competitors in Global Intelligent Transportation System Market
Some of the significant players that would be subject to detailed competitive profiling in the global intelligent transportation system market report, include DENSO CORPORATION, Hitachi, Ltd., Thales Group, Agero, Inc., Siemens AG, Sensys Networks, Inc., Garmin Ltd., TransCore, and Nuance Communications, Inc.
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The new research report titled "Intelligent Transportation System Market, Global Industry Analysis, and Forecast to 2027" gives a detailed analysis and future forecasts of the market.
The report highlights the significant players, including market size, share, and demand, development.
This report further covers the latest trends, technological advancements, and growth opportunities.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the intelligent transportation system 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 and Thales Group.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers& acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Intelligent Transportation System Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/intelligent-transportation-system-market/download-sampleMarket DynamicsThe increasing number of mega cities, the population growth and recent government initiatives on transport and traffic management, are the important driving factor for the market growth.
The intelligent transportation system market is expected to accelerate growth over the forecast timeline due to an increase in the adoption of smart transport systems by people to reduce traffic jamming problems and favorable government initiatives on smart transport infrastructure.
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.
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.
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.
