Intelligent Transportation Systems Market is expected to grow at a CAGR of 6.7% over the period 2018-2023|Key Players- TRANSCORE INC, KAPSCH TRAFFICCOM AG, EFKON AG, Q-FREE, THALES GROUP amongst others

Market Analysis:

The Intelligent Transportation Systems market growth is currently being hindered by the lack of inter-operability and standardization. The rapidly expanding telematics and vehicle infotainment industry, coupled with continued explosive growth of the commercial connected vehicle will see the emergence of new data streams, provided by the auto industry, and openly accessible to the developer community.

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The major objective of the intelligent transport system market is to reduce traffic congestion, pollution level, and to control the number of road accidents. The major reasons behind the increase in traffic congestion are the growth in the number of vehicles on the roads, increase in population and migration of the rural areas to the metropolitan cities.
The improved supply chain management and the initiatives taken by the government are the key drivers, which are making the intelligent transportation systems market to grow lucratively.

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Market Segments:
Intelligent Transportation Systems Market is segmented by:
1. Type: Advanced Traffic Management System, Advanced Traveller Information System, Advanced Public Transportation System, Commercial Vehicle Operation, Others
2. Application: Fleet Management and Asset Monitoring, Traffic Monitoring, Traffic Signal Control, Parking Convinience Systems, Traffic Enforcement Cameras, Accident Avoidance Systems
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

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