Global Intelligent Transport Systems (ITS) Market Projected To Reach US$ 70,798.4 Mn By 2027 End

Researchmoz added Most up-to-date research on "Global Intelligent Transport Systems (ITS) Market Projected To Reach US$ 70,798.4 Mn By 2027 End" to its huge collection of research reports.

Global intelligent transport systems market is developing rapidly with a healthy CAGR during the assessed period. North America is expected to be the dominant market in 2017 in terms of revenue for intelligent transport systems. In the coming years, APEJ is expected to be a key market for sustainable revenue generation. Developing countries such as China are expected to account for high market shares in the APEJ region for the ITS market.

Establishing strong supply chains and distribution channels are major practices followed by ITS vendors in China to expand their business opportunities. Smart technology such as smart parking and collision avoidance systems are the two applications which are showcasing high CAGRs.

Increased inclination towards better transport infrastructure is a new trend in the global intelligent transport systems market
Development of smart vehicles is one of the major trends shaping the global intelligent transport system market. These smart vehicles operate on intelligently controlled roads by deploying state of art infrastructure and latest technologies. However to operate with this technology, it is necessary for smart vehicles to have intelligent transport systems. This trend is expected to push the growth of the global ITS market.

To Get Sample Copy of Report visit @ https://www.researchmoz.us/enquiry.php?type=S&repid=1834748

This system not only provides new infrastructure opportunities but also offers openings for reworking on old infrastructure. For instance, on April 2016 it was announced by the Ministry for Transportin Germany that around 70% of investment of the transportwill be for renovation and improvement projects, comparedto 56% in the previous transport strategy.

Another recent trend in this market is associated with key players operating in the global market for intelligent transport systems that are joining 5G automotive association to scale up product innovation. For example, Savari Inc., joined the 5G automotive association to bring cellular communications to connected cars.

Demand for better transport infrastructure is likely to increase due to technological advancement. This allows the adoption of traveler information systems, ramp meters, electronic toll collection, traffic signal coordination and red light cameras. The governments across the globe are also taking initiatives to focus on research of cutting-edge technology related to advanced products such as vehicle ad hoc networks. These major trends are poised to fuel the growth of the global market for intelligent transport systems.

Browse TOC @ https://www.researchmoz.us/intelligent-transport-systems-its-market-global-industry-analysis-2012-2016-and-opportunity-assessment-2017-2027-report.html/toc

In terms of value, the APEJis projected to be the most attractive market in the global intelligent transport systems (ITS) market during the forecast period. APEJis expected to register high Y-o-Y growth rates throughout the forecast period. In terms of value, this market is expected to rise at a CAGR of 19.9% during the forecast period. In 2017, the market in the North Americais estimated to reach a value of US$ 6,995.6Mn in the year 2017, and is expected to witness steady growth in terms of revenue throughout the forecast period. North America also has a relatively large market share as compared to other countries and is the second largest region for intelligent transport systems.

About ResearchMoz

ResearchMoz is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organizations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price.

Mr. Nachiket
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Email: sales@researchmoz.us
Website @ http://www.researchmoz.us/
Tel: 866-997-4948 (Us-Canada Toll Free)
Tel: +1-518-621-2074
Follow us on LinkedIn @ http://bit.ly/1TBmnVG
Follow us on Blogger @ http://summaryofmarketresearchreports.blogspot.in/

This release was published on openPR.