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What’s driving the Intelligent Transportation System (ITS) Market? Nuance Communications, PTV Group, Q-Free ASA, Thales, TomTom, Xerox, Advantech, Denso, Hitachi, MOXA

06-11-2019 01:37 PM CET | Logistics & Transport

Press release from: Global Market Insights, Inc.

What’s driving the Intelligent Transportation System (ITS)

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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In the roadways intelligent transportation systems market, Advanced Traffic Management Systems (ATMS) held a majority share of over 34% in 2018 due to the growing demand for reducing traffic congestion in urban areas by enhancing an effective utilization of the prevailing infrastructure. These systems acquire real-time information from roadside traffic sensors and aid in developing effective traffic management strategies. Also, the development of adaptive traffic control solutions is improving the efficiency of these systems leading to the growing adoption of ATMS around the world.

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:

• 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
• Xerox Corporation

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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.

Operation and collision avoidance application is projected to hold a dominant share of over 30% in the railway intelligent transportation systems market by 2025. Taking precautionary measures to prevent collisions can aid in mitigating the risk of jumping signals and over-speeding by loco pilots of trains that may lead to accidents. Passenger and freight collisions result in huge economic losses and fatalities every year. Most incidents happen due to human errors. By deploying automated collision avoidance technologies, such incidents can be effectively avoided saving numerous lives.

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.

Browse Report Summery @ https://www.gminsights.com/industry-analysis/intelligent-transportation-system-ITS-market

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.

Contact us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com

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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