|02-11-2019 06:41 PM CET - IT, New Media & Software||
Intelligent Transportation System (ITS) Market 2019 By Top Key Players Advantech, Denso, Hitachi, MOXA, Nuance Communications, PTV Group, Q-Free ASA, Thales, TomTom, Xerox
Press release from: Global Market Insights, Inc.
PR Agency: Automotive & Transportation Industry
Intelligent Transportation System (ITS) Market is set to exceed USD 34 billion by 2025. ITS market growth is attributed to the increasing emphasis on smart city & smart transportation development initiatives by government agencies, aggressive R&D in autonomous vehicle technology, and rapidly increasing vehicle production demanding effective traffic management solutions. Also, government agencies around the world are establishing strict norms for controlling vehicle emissions and improving roadside safety. Such initiatives are promoting market players to develop advanced ITSs for a diverse range of transportation modes such as roadways, railways, airways, and maritime.
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Rail traffic management solutions dominated the railway ITS market in 2018 due to the growing emphasis on optimizing rail movement of international trade routes as well as increasing focus on enhancing railway safety infrastructure. The major features of railway traffic management systems include real-time traffic planning, route scheduling, power supply & infrastructure, operation information for passengers & the staff, and maintenance support. These solutions automatically control and set routes for trains and establish route control in events operational disruption.
Growth drivers -
1. Growing adoption of automotive IoT
2. Need for efficient traffic control
3. Rapid urbanization and government investment in smart transportation
4. Increasing investment in railway infrastructure
5. Health, safety, and environmental benefits
6. Rapidly increasing vehicle demand and production
In the airways intelligent transportation systems (ITS) market, communication and networking systems are projected to exhibit excellent growth between 2019 and 2025 at a CAGR of over 7%. With increasing air traffic levels and rising demand from passengers for in-flight communication systems such as Wi-Fi access, airlines are exploring innovative methodologies for improving communication and the network infrastructure. With companies investing heavily in improving network connectivity with airborne aircraft, avoiding congestion is becoming much easier with the use of modern communication and networking systems.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• FIG 12 SWOT Analysis, Advantech Co., Ltd.
• FIG 13 SWOT Analysis, Bestmile SA
• FIG 14 SWOT Analysis, Clever Devices Ltd.
• FIG 15 SWOT Analysis, Denso Corporation
• FIG 16 SWOT Analysis, EFKON AG
• FIG 17 SWOT Analysis, ETA Transit Systems
• FIG 18 SWOT Analysis, GMV Group
• FIG 19 SWOT Analysis, Hitachi, Ltd.
• FIG 20 SWOT Analysis, Kapsch Trafficcom
• FIG 21 SWOT Analysis, Lanner Electronics
• FIG 22 SWOT Analysis, Moxa Inc.
• FIG 23 SWOT Analysis, Nuance Communications
• FIG 24 SWOT Analysis, PTV Group
• FIG 25 SWOT Analysis, Q-Free ASA
• FIG 26 SWOT Analysis, Rhythm Engineering
• FIG 27 SWOT Analysis, Telegroup
• FIG 28 SWOT Analysis, Thales Group
• FIG 29 SWOT Analysis, TomTom N.V.
• FIG 30 SWOT Analysis, Transmax Pty Ltd.
• FIG 31 SWOT Analysis, Trapeze Group
• FIG 32 SWOT Analysis, WS Atkins PLC
• FIG 33 SWOT Analysis, Xerox Corporation
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In maritime ITS, the weather information market is expected to register accelerated growth over the forecast timeline. Good weather forecasting helps ships and their crew with effective navigation and taking informed decisions to reduce risks due to unexpected weather shifts. A bad weather can cause maritime vessels to run aground, capsize, or to collide with other ships and objects. Efficient weather information and forecasting measures ensure that such mishaps are prevented by taking timely precautionary measures.
The Asia Pacific region is projected to hold the second largest share of the global ITS market over the forecast period. Major economies in the region, such as China, Japan, and India, are investing significantly in creating megacities and modernizing their transportation networks to facilitate enhanced trade exchanges. Also, government initiatives in the region for issuing stringent emission norms to combat rising levels of air pollution are expected to contribute to market growth over the forecast timeline.
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Some of the key vendors operating in the ITS market include Advantech Co., Ltd., Bestmile SA, Clever Devices Ltd., Denso Corporation, EFKON AG, ETA Transit Systems, GMV Group, Hitachi, Ltd., Kapsch Trafficcom, Lanner Electronics, Moxa Inc., Nuance Communications, PTV Group, Q-Free ASA, Rhythm Engineering, Telegroup, Thales Group, TomTom N.V., Transmax Pty Ltd., Trapeze Group, WS Atkins PLC, and Xerox Corporation.
About Global Market Insights:
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.
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