Press release
How Will Burgeoning Demand For Real-Time Traffic Information Influence The Intelligent Transportation System (ITS) Market Outlook?
Intelligent Transportation System (ITS) Market
Higher funding for projects related to smart city development will create extensive acceptance of smart transportation solutions with the purpose of regulating city traffic flow. These solutions will facilitate better user access to transportation systems and will also accelerate the advancement of smart infrastructure.
The burgeoning prevalence of IoT is supporting the automation of several transport sectors including airways, railways, roadways and maritime to enhance the commute experience through improved controls and operations, efficient traffic and passenger information management.
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As per reports by Global Market Insights, Inc, the global intelligent transportation system (ITS) market is anticipated to exceed $34 billion by 2025.
How will rising road fatality incidents augment Intelligent Transportation System (ITS) Market expansion over the predicted timeframe?
Worsening road traffic conditions and the ensuing demand for innovations in traffic management are the key driving forces behind the intelligent transportation system market expansion. Emerging road accident cases across the globe are creating severe concerns for government authorities regarding road safety. The International Transport Forum’s Road Safety Annual report in 2017, stated that there was a 6.3% increase in U.S road fatalities from 2010 to 2016.
Likewise, the EU’s Annual Accident Report in 2017, claims that over 26,100 lives were lost and over 1.4 million left injured due to road traffic accidents in 2015.
To counteract these risks, government agencies across the globe are taking strong initiatives to improve road safety and reduce mishaps by implementing ITS networks across all major roadways.
With regards to the roadways intelligent transportation systems landscape, ATMS (Advanced Traffic Management Systems) accounted for over 34% of the market share in 2018, owing to the rising demand for better traffic management in major urban localities. ATMS systems work by receiving real-time data from traffic sensors deployed along the roadways and help develop efficient tactics for traffic management. Furthermore, the adoption of ATMS across the world is significantly escalated by the development of adaptive solutions for traffic control.
Which application seg`ment is poised to fare prominently well in Intelligent Transportation System (ITS) Market over the forecast timeline?
The operations and collision avoidance segment is estimated to account for an appreciable 30% of the railways intelligent transportation systems market share by 2025. The implementation of precursory safety measures can mitigate the threat of accidents caused due to various factors like signal jumping and over-speeding by train loco pilots, among others.
Collision incidents in cargo or passenger vehicles can cause large numbers of fatalities and severe economic losses. Installing automated systems for collision avoidance helps avoid the risk of human errors, resulting in better safety and preventing loss of lives.
Which segments by system are likely to accrue considerable gains for the intelligent transportation system (ITS) market in the airways sector?
The communication and networking systems segment is set to witness sizeable growth, depicting a CAGR of over 7% over 2019-2025.
The demand from air passengers for in-flight connectivity solutions like Wi-Fi is on the rise, driving airline companies to adopt cutting-edge technologies for better communication and networking infrastructure in their flights.
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Meanwhile, the information display system segment of the airways ITS market is projected to account for over 20% of the market share in 2025. The rising complexity of airport environments, quick access to operational and flight-related data becomes paramount. Smart display systems help to store, analyze and relay relevant real-time flight information to passengers and airport authorities alike through vast implementation throughout the airports.
Table of Contents (ToC) of the report:
Chapter 4. Competitive Landscape, 2018
4.1. Introduction
4.2. Competitive analysis of key market players
4.2.1. Denso Corporation
4.2.2. Kapsch Trafficcom
4.2.3. Moxa Inc.
4.2.4. Siemens AG
4.2.5. Thales Group
4.2.6. TomTom N.V.
4.2.7. TransCore
4.3. Competitive analysis of other prominent vendors
4.3.1. EFKON AG
4.3.2. Hitachi, Ltd.
4.3.3. Nuance Communications
4.3.4. PTV Group
4.3.5. Q-Free ASA
4.3.6. WS Atkins PLC
4.3.7. Xerox Corporation
Chapter 5. Intelligent Transportation System (ITS) Market, By Mode of Transport
5.1. Key trends, by mode of transport
5.2. Roadways
5.2.1. Product market estimates and forecast, 2014-2025
5.3. Railways
5.3.1. Service market estimates and forecast, 2014-2025
5.4. Airways
5.4.1. Service market estimates and forecast, 2014-2025
5.5. Maritime
5.5.1. Service market estimates and forecast, 2014-2025
Chapter 6. Intelligent Transportation System (ITS) Market, By Roadways
6.1. Key trends, by roadways
6.2. System
6.2.1. Market estimates and forecast, 2014-2025
6.2.1.1. Advanced Traffic Management System (ATMS)
6.2.1.1.1. Market estimates and forecast, 2014-2025
6.2.1.2. Advanced Traveler Information System (ATIS)
6.2.1.2.1. Market estimates and forecast, 2014-2025
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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
About Global Market Insights, Inc.
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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