Press release
Intelligent Transportation System Technologies Industry Business Overview and Analysis 2016-2022
Global Intelligent Transportation System Market can be segmented by Type, Component and Application:
• Segmentation by Type: Advanced transportation system, advanced public transportation system, advanced transportation pricing system, cooperative vehicle systems and others.
• Segmentation by Component: Sensors, surveillance camera, software, interface board, monitoring & detection system, and others.
• Segmentation by Applications: Telematics, traffic management, parking management, environment protection, traffic signal control, road safety & security, and others.
Market Outlook:
Intelligent transportation system is a technology which provides internet connectivity between vehicles and fixed locations in order to interact with each other through telematics and navigation system. It connects vehicles, drivers, passengers, and road operators in order to improve safety and complexity of road systems. It is a tested route system developed to migrate traffic congestion problems pertaining to rising populations in the world. It is implemented to evaluate, develop, analyze and integrate new technologies to achieve traffic efficiency, environmental quality, energy savings, and enhancing safety & comfort of the drivers as well as passengers. It includes all modes of transportation namely air, sea, road and rail and interconnects various component of vehicles, infrastructure, communication and operational systems. It can play crucial role in collecting information through seamless connectivity and encourage more usage of transports especially public transports thereby support transportation management. The development and implementation of advanced technologies namely electronic device, sensors, detectors, GPS, and communication devices in the traditional transportation system is enhancing the functioning of transportation services. The growing vehicle population especially in developing nations urged by increasing population and economic upturn forcing efficient and safe traffic management in metropolitan cities and towns of a country is driving the growth of intelligent transportation system market. The rising concern about deploying safety in transports by government is developing need of implementing intelligent transportation into their region. U.S. government has already implemented intelligent transportation technology into their transports. Furthermore, efficient transportation provide control over traffic congestions and reducing pollution which is a crucial factor towards environment protection. However, slow growth in improving infrastructure and high installation cost are some of the factors hindering the market growth of intelligent transportation system. Globally the market for Intelligent Transportation System Market is expected to grow at the rate of more than ~12% from 2016 to 2022.
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Key Players:
Some of the major players in Global Intelligent Transportation System Market includes:
• Hitachi Ltd. (Japan)
• Siemens AG (Germany)
• Thales group (France)
• Xerox Corporation (U.S.)
• Kapsch Trafficcom AG (Austria)
• Q-Free ASA (Norway)
• Denso corporation (Japan)
• EFKON AG (Austria)
• Lanner Electronics Inc. (Taiwan)
• TOM TOM International BV (Netherlands)
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Regional Analysis of Intelligent Transportation System Market:
North America is dominating the global intelligent transportation system market after Asia Pacific with the largest market share due to growing demand of safety & securities across private & public sector and government initiatives for implementing safety features in transportation system especially across U.S. has expected to grow with highest revenue by 2022. Europe is also expected to exhibit high growth opportunity due to rising concern of improving transportation & infrastructure system in the region. Asia-Pacific is the fastest growing region during the forecast period due to mounting mandatory regulations for transportation system in the region by government. Also, increasing investment in intelligent transportation system by developing nations namely India and Brazil is fuelling the market growth in Asia-pacific region.
Target Audience:
• Intelligent transportation system providers
• Network providers
• Software providers
• Navigation and GPS manufacturers
• Research & consultancy
• Government
• Technology investors
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Akash Anand,
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: akash.anand@marketresearchfuture.com
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