The increasing number of mega cities and the population growth in developed and developing countries has increased the importance of deploying an intelligent transport system (ITS). ITS system constitutes both, road transport and an efficient metro/underground rail system. ITS involves the revamp of overall technological aspects such as GPS, Carrier Access for Land Mobiles (CALM), Dedicated Short Range Communication (DSRC) etc. Globally, the concerned government departments understand the importance of implementing an efficient ITS system, which is an important driving factor for the market growth. 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.
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However, 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.
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Some of the key players profiled in this report are 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.
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KEY BENEFITS
- The in-depth analysis provides market intelligence with respect to segments based on applications, systems and geographies
- Detailed analysis of the top factors impacting the growth of the market based on the current market scenario and projected future trends
- Value chain analysis provides key inputs about the role of all stakeholders of the market
- Porter’s five force analysis provides in-depth understanding about the potency of suppliers & buyers, threat of new entrants & substitutes along with competitive scenario of the market
- SWOT analysis and recent developments of key players are included in the report so that companies can understand the competitive scenario of the market and make strategies for better market capitalization
- Estimations are calculated according to the current market scenario and projected future trends for the analysis period of 2013-2020 with base revenue of 2012
- The report discusses the trends and opportunities in various geographies so that companies can make region specific plans to gain competitive advantage
KEY MARKET SEGMENTS
BY APPLICATION
- Traffic Monitoring
- Collision Avoidance Systems
- Fleet Management & Asset Monitoring
- Traffic Signal Control Systems
- Parking Availability Systems
- Variable Traffic Message Signs
- Traffic Enforcement Cameras
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
BY GEOGRAPHY
- North America
- Europe
- Asia-Pacific
- Rest of the World (ROW)
KEY AUDIENCES
- Transport and Related Technology Developers
- Automotive Industry
- Government and Research Organizations
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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.
For creating sustainable and profitable business strategies, valuable and actionable market insights are significant for all time.
This Intelligent Transportation System (ITS) market research document is right there to serve such needs of businesses and hence analyses the market from top to bottom by considering plentiful of aspects.
This market research document provides an analytical measurement of the main challenges faced by the business currently and in the upcoming years.
This market research document involves a key data and information about the ABC industry, emerging trends, product usage, motivating factors for customers and competitors, restraints, brand positioning, and customer behaviour.The intelligent transportation system (ITS) market is expected to witness market growth at a rate of 18.2% in the forecast period of 2021 to 2028.
A business report which consists of a precise and accurate analysis of market trends, future developments, market segments and competitive analysis is in high demand by the businesses of all sizes due to the benefits that it offers.
This Intelligent Transportation System (ITS) business report also offers a profound overview of product specification, technology, product type and production analysis by taking into account most important factors such as Revenue, Cost, Gross and Gross Margin.
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.
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.
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.
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.
