Intelligent Transportation System Market By Trends Analysis, Forecasts and Top Key Players: Agero Inc., DENSO, Hitachi, Nuance Communications, Garmin International, Kapsch TrafficCom AG, Siemens, Telenav, Thales, TomTom, TransCore, Xerox

Intelligent Transportation System Market is expected to grow at 13% to cross USD 45 billion by 2022. Diminishing transportation arrangement, less development space and expanding number of vehicles in metropolitan zones are driving the integration of intelligent transportation systems for enhancing execution of existing structure.

The expanding number of urban communities and the populace development is expanding the significance of implementing a savvy transport framework. Features such as transportation performance enhancement, increased road safety are stimulating the intelligent transportation systems market demand over the forecast timeframe.

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ATPS was valued at USD 4.8 billion in 2014, and is expected to achieve USD 13.2 billion by 2022, at an estimated CAGR of 13.3% over the coming few years.

Intelligent transportation systems market improves supply chain course and yield high cost ratio. Increasing acceptance in emerging markets such as Russia, India, Brazil, South Africa and China has offered several economic advantages.

Advanced traffic management system (ATMS) market was valued at over USD 7 billion in 2014 and is estimated to cross USD 18 billion by 2022. ATMS implementation results in reduced accidents & roadway vulnerabilities and effective use of road space. Advanced public transportation systems (APTS) segment is projected to grow with more than 13% CAGR. APTS is increasingly developed to differentiate products from the competitors.

This helps in diminishing the overall travel time and fuel utilization by avoiding overcrowded traffics or routes. Need for interoperability is likely to create challenge to industry participants. However, governments and transportation authorities, have been actively working together to improve overall interoperability.

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High installation cost and moderate development of infrastructure particularly in the developing regions is hindering the business revenue. Furthermore, lack of benchmarks and negligible interoperability between the different transportation and technological methods are limiting the adoption of this technology.

Intelligent transportation systems market by application, road user charging segment is expected to exhibit growth over 12% during forecast period. Other applications include vehicle detection systems, ramp metering, automotive telematics and parking management systems. These systems facilitate reliable road networks and enhanced operational performance.

North America leads the regional demand with market share of 41.52% in 2014. Stringent government norms have boosted the demand in this region over the forecast period. Asia Pacific region is expected grow at high rates compared to other regions. The region is expected to grow at a CAGR of 13.9% up to 2022.

Asia Pacific will exhibit substantial growth in the intelligent transportation system market owing to significant adoption of the technology in countries such as China, India, Brazil. The developing countries in this region are benefitted in terms of improved supply chain processes which is improving the economic benefits.

Major industry manufacturers in intelligent transportation systems market include ADCCO LLC, Agero Inc., DENSO Corporation, EFKON AG, Hitachi Ltd, Nuance Communications, Garmin International Inc., Iteris, Inc., Kapsch TrafficCom AG, Lanner Electronics Inc., Q-Free ASA, Ricardo PLC, Sensys Networks Incorporation, Siemens AG, Telenav, Inc., Thales Group, TomTom NV, TransCore Inc., WS Atkins PLC, and Xerox Corporation.

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