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Report Explores the Global Intelligent Transportation System Market Size, Demand, Growth, Analysis and Forecast to 2024
Intelligent Transportation System Market
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Intelligent Transportation System Market: Industry Insights
An application of electronics computer and communication technologies with an integrated system to provide real-time data of traveler to increase the efficiency and safety of road transportation system is known as an intelligent transportation system. It includes road operator, driver, vehicles, passengers, and managers which interact with the environment and each other to improve the capacity and safety of the road transportation system. The primary goal of the intelligent transportation system is reducing energy consumption while transportation.
Intelligent Transportation System Market: Drivers and Restraints
Development of smart cities is driving the market as an increase in concern regarding public safety and increasing traffic congestions. For traffic management, there is an increase in usage of real-time data to resolve traffic issues which led to growing the intelligent transportation system market. The slow increase in infrastructure development across the globe and high cost for installation may hamper the growth of the market. The problem between user and system interoperation to control units may hinder the global intelligent transportation system market.
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Intelligent Transportation System Market: Segmentation
Intelligent transportation system market is segmented on the basis of components, types, and application. Components are further segmented into interface boards, sensors, software, surveillance camera, telecommunication networks, monitoring and detection system, and others. By types, it is bifurcated into Advanced Traveler Information Systems (ATIS), Advanced Transportation Management Systems (ATMS), Advanced Transportation Pricing Systems (ATPS), Advanced Public Transportation Systems (APTS), Cooperative Vehicle Systems and Automatic Number Plate Recognition Systems (ANPR) Enterprises. Advanced Transportation Management System (ATMS) holds a large amount in the Intelligent Transportation System Market because of increasing demand for reducing traffic by advanced traffic management. The application is segmented into Traffic Management, Road Safety and Surveillance, Freight Management, Public Transport, Environment Protection, Automotive Telematics, Parking Management, Road User Charging, and Automated Vehicles, in which traffic management holds highest in the market due to growing traffic issues and implementation of real-time data in traffic management.
Intelligent Transportation System Market: Regional Insights
Intelligent Transportation System Market is segmented regionally into North America, Europe, Asia-Pacific and Rest of World (RoW). North America holds the highest market in the Global Intelligent Transportation System Market as there is higher adoption in emerging technologies for real-time data in the transportation system. In North America, the U.S. dominates the market followed by Canada and Mexico. Asia-Pacific is expected to grow with the highest CAGR during 2018-2025. Increase in effective traffic management and government taking initiative in the Asia-Pacific region.
Intelligent Transportation System Market: Competitive Analysis
The Global Intelligent Transportation System Market comprises with the players Denso Corporation, EFKON AG, Garmin International, Inc., Kapsch Trafficcom AG, Nuance Communications, Inc., Savari Inc., Thales Group, Tomtom NV, Transcore Inc., and Q-Free ASA. Product innovation and acquisitions & mergers are the key parameters to remain competitive and to gain greater market share.
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Reasons to Buy this Report:
• Comprehensive analysis of global as well as regional markets of the Intelligent Transportation System.
• Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
• Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
• Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
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