Press release
Intelligent Transportation System (ITS) Market Witnessing Hugh Growth During Forecast Period 2020-2027 | Agero, Xerox, Lanner, Nuance, Denso, Q-Free ASA, Siemens, Hitachi, WS Atkins, EFKON AG, Iteris, Garmin, Telenav
Intelligent transportation systems (ITS) is integrated application of information and communication technologies with an aim to provide highly efficient transportation related services and traffic management. In addition, ITS aids in improving the operational efficiency, enhancing road safety, maintaining sustainability of transportation networks and reducing traffic congestion. Various elements such as sensors, telematics, communication devices, and other data analysis applications form the integral components of an intelligent transportation system. Intelligent transportation system can be widely deployed in various applications as it makes use of parking availability system, collision avoidance system, and traffic enforcement camera among others.
The increasing number of vehicles leading to traffic congestion has contributed to the need of intelligent transportation system for advance traffic control measures, thereby, propelling the global ITS market. In addition, the global ITS market is bolstered as various governments across the world are framing specific programs and taking initiatives to implement ITS, owing to an alarming need of deploying an efficient transportation system. For instance, the U.S. Department of Transport (DOT) is focusing extensively upon manufacturing intelligent vehicles and deploying intelligent infrastructure. The U.S. DOT has started a Federal ITS program with an aim to make research initiatives, investigative study and support the deployment of the intelligent system through an organized investment. Furthermore, the implementation of ITS can contribute in significant pollution reduction, thereby, benefiting the environment.
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The reports cover key developments in the Intelligent Transportation System (ITS) market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Intelligent Transportation System (ITS) market are anticipated to lucrative growth opportunities in the future with the rising demand for Intelligent Transportation System (ITS) market in the global market.
Key Players Influencing the Market
• Agero, Inc.
• Xerox Corporation
• Lanner Electronics Incorporated
• Nuance Communications, Inc.
• Denso Corporation
• Q-Free ASA
• Siemens AG
• Hitachi, Ltd.
• WS Atkins PLC
• EFKON AG
• Iteris, Inc.
• Garmin Ltd.
• Telenav, Inc.
• TomTom International BV
• Kapsch TrafficCom AG
• Thales Group
• TransCore, LP
• Addco LLC
• Ricardo plc
• Sensys Networks, Inc.
The “Global Intelligent Transportation System (ITS) Market Analysis to 2027” is a specialized and in-depth study of the technology, media and telecommunications industry with a special focus on the global market trend analysis. The report aims to provide an overview of Intelligent Transportation System (ITS) market with detailed market segmentation by component, deployment type, industry vertical, and geography. The global Intelligent Transportation System (ITS) market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Intelligent Transportation System (ITS) market players and offers key trends and opportunities in the market.
The intelligent transportation system market has been segmented on the basis of system into advanced traveler information system (ATIS), advanced public transportation system (APTS), advanced traffic management system (ATMS), advanced transportation pricing system (ATPS), commercial vehicle operation (CVO), and ITS-enabled transportation pricing system. Additionally, the intelligent transportation system market has been fragmented based on components such as interface board, sensors, surveillance camera, monitoring & detection systems, telecommunication network, and software among others. In addition, the intelligent transportation system market has been segmented based on applications, namely: traffic signal control system, traffic monitoring system, fleet management & asset monitoring system, parking availability system, traffic enforcement camera, collision avoidance system, and automotive telematics among others.
Besides this, the report analyzes factors affecting Intelligent Transportation System (ITS) market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions considered in the Global Intelligent Transportation System (ITS) Market report.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Intelligent Transportation System (ITS) market based on the type and application. It also provides market size and forecast till 2027 for overall Intelligent Transportation System (ITS) market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
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Answers that the report acknowledges:
• Market size and growth rate during forecast period.
• Key factors driving the Intelligent Transportation System (ITS) Market.
• Key market trends cracking up the growth of the Intelligent Transportation System (ITS) Market.
• Challenges to market growth.
• Key vendors of Intelligent Transportation System (ITS) Market.
• Detailed SWOT analysis.
• Opportunities and threats faces by the existing vendors in Global Intelligent Transportation System (ITS) Market.
• Trending factors influencing the market in the geographical regions.
• Strategic initiatives focusing the leading vendors.
• PEST analysis of the market in the five major regions.
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