Intelligent Transport Systems (ITS) Market Drivers and Key Players Strategies Analyzed Till 2027 || Key Player - Thales Group Ad, Siemens AG, Garmin Ltd., Tom-tom International BV.

A new report titled “Intelligent Transport Systems (ITS) Market Drivers and Key Players Strategies Analyzed Till 2027” has been included in the enormous research repository of Market Research Reports Search Engine (MRRSE) that compiles various facets of the Intelligent Transport Systems (ITS) Market at a global level portraying a holistic analysis of the marketplace along with intelligence on key participants. The report covers an unbiased analysis on various market aspects, emphasizing major trends giving direction to the market, key opportunities paving new growth avenues, key drivers pushing the market’s growth and challenges and restraints hindering the market for Intelligent Transport Systems (ITS) Market across the globe.

Request Free Sample Report @ https://www.mrrse.com/sample/4870

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.

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.

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 Transport in Germany that around 70% of investment of the transport will be for renovation and improvement projects, compared to 56% in the previous transport strategy.

Browse Complete Report with TOC @ https://www.mrrse.com/intelligent-transportation-system-its-market/toc

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.

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. 

Enquire about this Report @ https://www.mrrse.com/enquiry/4870

About Market Research Reports Search Engine (MRRSE)

Market Research Reports Search Engine (MRRSE) is an industry-leading database of Market Research Reports. MRRSE is driven by a stellar team of research experts and advisors trained to offer objective advice. Our sophisticated search algorithm returns results based on the report title, geographical region, publisher, or other keywords.

MRRSE partners exclusively with leading global publishers to provide clients single-point access to top-of-the-line market research. MRRSE’s repository is updated every day to keep its clients ahead of the next new trend in market research, be it competitive intelligence, product or service trends or strategic consulting.

Contact Us

State Tower
90, State Street
Suite 700
Albany, NY - 12207
United States Telephone: +1-518-730-0559
Email: sales@mrrse.com
Website: https://www.mrrse.com/

This release was published on openPR.