Intelligent Transportation System Market to Witness Huge Growth by Key Players: Thales Group, Siemens, KapschTrafficCom, Garmin, TomTom International BV, Cubic Corporation and Others.

The report titled “Intelligent Transportation System Market” sheds a concentrated focus on the Intelligent Transportation System industry in terms of market driver, opportunities, restraints of global segmentation. Further data on the reports also includes demographic conditions, over-turning changing business cycles and analyzing country-to-market.

Need a Free Sample Report? Visit: https://www.reportsnreports.com/contacts/requestsample.aspx?name=3447123

The Intelligent Transportation System (ITS) Market for roadways is expected to grow from USD 17.9 Billion in 2020 to USD 36.5 Billion by 2025, at a CAGR of 15.3%.

Top Companies Profiled in the Intelligent Transportation System Market:
• Thales Group (France)
• Siemens (Germany)
• KapschTrafficCom (Austria)
• Garmin (US)
• TomTom International BV (Netherlands)
• Cubic Corporation (US)
• Q-Free ASA (Norway)
• EFKON GmbH (Austria)
• FLIR Systems Inc. (US)
• Indra Sistemas (Spain)
• Denso Corporation (Japan)

The recent COVID-19 pandemic is expected to impact the global ITS market. The manufacturing units are highly hampered due to worldwide lockdown and limited availability of labor and raw material. This has resulted in a delay in ongoing transport projects to a greater extent. Some experts argue that the governments may rethink on their recently announced transport project plans to curb traffic congestion.

“Software segment is expected to register the highest CAGR in the ITS market for roadways during the forecast period.”
Based on the offering, the ITS market for roadways has been divided into hardware, software, and services. The high growth rate of the software segment is attributed to the deployment of various advanced software solutions and complex algorithms to strengthen the overall information and communication systems.

“Advanced traffic management system (ATMS) application held the largest share of the ITS market for roadways in 2019.”
The largest market size of the advanced traffic management system is due to the increasing traffic congestion on roads across the world. Moreover, the rising number of vehicles, due to the availability of favorable deals offered by the automobile manufacturers and changing lifestyles of people, are also leading to the rising traffic congestion. So, it is expected that the advanced traffic management system will be deployed significantly across the globe to address the growing traffic congestion.

Direct Purchase this report and Get 20% Discount @ https://www.reportsnreports.com/purchase.aspx?name=3447123

Breakdown of primary participants’ profile:
• By Company Type: Tier 1 = 25%, Tier 2 = 35%, and Tier 3 = 40%
• By Designation: C-Level Executives = 35%, Directors = 25%, and Others = 40%
• By Region: Europe = 43%, APAC = 29%, North America = 14%, and RoW = 14%

Competitive Landscape of Intelligent Transportation System Market:
1 Introduction
2 Ranking Analysis Of Key Players In Its Market
3 Competitive Situations And Trends
3.1 New Product Launches
3.2 Contracts, Collaborations, And Partnerships
3.3 Acquisitions
4 Competitive Leadership Mapping, 2019
4.1 Visionary Leaders
4.2 Dynamic Differentiators
4.3 Innovators
4.4 Emerging Companies

Research Coverage:
In this report,the ITS market for roadways has been segmented on the basis of offering, system, application, and geography.The report also discusses the drivers, restraints, opportunities, and challenge spertaining to the market. It gives a detailed view of the market across four main regions—North America, Europe, APAC, and RoW.

Do you have any query or specific requirement? Ask to our industry expert at https://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=3447123

#Customization Service of the Report:
ReportsnReports provides customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Corporate Headquarters
Tower B5, office 101
Magarpatta SEZ,
Hadapsar, Pune-411013, India

About Us:-
ReportsnReports.com is your single source for all market research needs. Our database includes 500,000+ market research reports from over 95 leading global publishers & in-depth market research studies of over 5000 micro markets.

This release was published on openPR.