Intelligent Transportation System Market forecast to witness growth at 13% CAGR by next seven years
Global Market Insights announces the new study based market Report on intelligent transportation systems market. The ITS market size is predicted to hit USD 47.5 billion at a CAGR of over 13% from 2015 to 2022. The report covers in-depth analysis on the basis of region, application and competitive segmentation. The report focuses on all aspects of market with analysis of drivers, impediments, challenges, opportunities and its impact on the market scenario.
Rising numbers of vehicles result in high traffic congestion and thus, necessitates highly developed public traffic management systems. ITS combines information and communication technologies used in traffic management and transportation systems, which helps reduce traffic congestion and thus enhance the safety, sustainability and efficiency of transportation networks. Increasing need for enhancing the existing transportation network performance and growing focus on the road is forecast to have a positive impact on the growth.
The system is being extensively adopted in several verticals including collision avoidance systems, fleet management, weather condition detection, traffic monitoring systems, asset monitoring, automotive telematics, parking availability systems, variable traffic message signs, traffic enforcement cameras and traffic signal control systems.
ATMS market size is expected to witness substantial growth over USD 18.4 billion during the predicted time frame. APTS systems segment used in bus arrival notification systems, real time passenger information systems, etc. is anticipated to exhibit growth at a CAGR of over 13% in next 7 years.
Browse key industry insights spread across 112 pages with 59 market data tables & 50 figures & charts from the report, “Intelligent Transportation System (ITS) Market Size By Application (Road Safety and Security, Traffic Management, Freight Management, Parking Management, Public Transport, Environment Protection, Road User Charging, Automotive Telematics), By Product (ATMS, ATPS, ATIS, APTS, Cooperative vehicle systems),Industry Analysis Report, Regional Analysis, Application Potential, Price Trends, Competitive Market Share & Forecast, 2015 – 2022” in detail along with the table of contents:
Regional Market size insights:
The report covers the analysis of ITS at regional scale, including U.S., Canada, China, Brazil, Mexico, Argentina, Peru, Chile, Korea, Philippines, Indonesia, Taiwan, Japan, Australia, Singapore, New Zealand, Malaysia and India. Asia Pacific market size is forecast to see major growth. Significant implementation of this technology in China and India has impelled developments in sensor technologies. The Latin America market is predicted to experience growth at over 13%during the anticipated period. Positive regulatory initiatives, coupled with promotional activities are expected to propel the demand in the North America region. Germany market size is projected to experience growth over 11% by 2022.
The report features an analysis of competitive industry with the key industry players profiled thoroughly. It covers market trends, business strategies of participants.
Some of the companies dominating the market are Q-Free ASA, Xerox Corp, Kapsch Traffic, Hitachi Ltd., Siemens AG, TomTom NV, SWARCO AG, Garmin International, IBM Corp, and Denso.
The report offers a 3600 view of the complete ITS market with regards to the geography, application areas and competitive landscape with the qualitative analysis of each and every feature of the segmentation. All the numbers, at every level of detail, are anticipated till 2022 to provide the potential size details of this market.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.