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.
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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.
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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. Companies are focusing on providing fully integrated safety solutions to develop technologies in the transportation infrastructure space.
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The report covers an overview of the industry along with a detailed explanation that provides a lot of insight.
The report also analyzes the production as well as management technology in various end-user industries.
An in-depth study in some new and prominent industry trends, analysis of the competition and regional analysis that is very detailed have been included in the report of the Intelligent Transportation System market for the review period of 2020 – 2027.There are many different factors that have caused the quick expansion of the Intelligent Transportation System market.
In addition to the above, government initiatives, as well as the competitive landscape that exists in the Intelligent Transportation System market through the forecast period, has been analyzed.Ask for report free sample with complete TOC and list of tables/figures @ https://www.datalibraryresearch.com/sample-request/intelligent-transportation-system-its-market-1961 Global Intelligent Transportation System Market Key Companies:Agero, Inc.ADCCO LLCDENSO CorporationEFKON AGHitachi Ltd.Garmin International, Inc.Iteris, Inc.Lanner Electronics, Inc.Nuance Communications, Inc.Ricardo PLCThe base year of the study is 2020 and the forecast period stretches all the way till 2027.
This has led to the creation of a strong understanding of the market for the upcoming years.
In addition to this, different latent growth factors, opportunities and restraints are evaluated for this advanced study and suggestions are made for the market that pertains to the forecast period.SegmentationThe Intelligent Transportation System market covers different regions such as North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa.
June 7, 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 Grand View Research, 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.Download sample Copy of This Report at: https://www.radiantinsights.com/research/intelligent-transportation-systems-its-market/request-sample The use of Electronic Tolling Systems (ETS) and ramp metering systems also helps reduce the traffic congestion and maintain the overall traffic flow.
The limited space for transportation network expansion is expected to further impact congestion costs, which in turn will fuel the demand over the forecast period.Intelligent transportation system helps improve the supply chain process performance and yields a high benefit to cost ratio; deploying these systems results in a significantly high ratio (8:1) as compared to a traditional transportation network.
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.
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.
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.
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