Intelligent Transportation System Market to Register Substantial Expansion by 2024
Request Sample: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1637
Predicted by TMR to expand at a CAGR of 12.7% between 2016 and 2024, the global ITS market could be worth a US$57.44 bn by the end of the forecast period. In 2015, the market attained a valuation of US$20.22 bn. On the basis of type, advanced transportation management systems (ATMS) could secure a rewarding share in the market while growing at a 12.9% CAGR. By region, North America has been expected to be placed in the driver’s seat as it had bagged a 41.2% share in 2015.
Need for Strong Transportation System to Avoid Traffic Problems Swells Demand
Traffic congestion is observed as a major problem in countries where the transportation system is weak. This could lead to the rise of related issues such as increase in overall transportation cost, travel time, and fuel consumption. A nation’s social and economic development is highly dependent on the formation of a good transportation system. Vendors offering ITS have been forecast to tap into opportunities created through various transportation problems faced around the world. Solutions provided using ITS have been recognized as few of the most vital ones to mitigate transportation problems.
Several ITS associations around the globe have found out that high-tech traffic management systems could reduce travel time by a 25.0% on an average and waiting time at a traffic signal by close to a 20.0% to 30.0%. This has been foreseen to tellingly up the demand in the world ITS market for the coming years. Furthermore, the swelling significance of making constant improvements in road safety could offer ample of opportunities in the market.
Browse Our Report: https://www.transparencymarketresearch.com/intelligent-transportation-system-market.html
Slow Economic Rise in Some Nations Leads to Lethargic Growth in Global Market
Despite the impressive growth of the international ITS market, there could be some factors slowing down the overall demand. The sluggish economic growth in some countries has been foretold to shrink the adoption of ITS, which could be detrimental for the growth of the market. Besides this, there could be a delay in the market reaching to its full potential due to poor interoperability between ITS and local infrastructures.
However, the growing need for improved road safety could work in the favor of the international ITS market. As surveyed, nearly 2.0% of all casualties witnessed worldwide are a result of road accidents. Important collaborations with government entities have been expected to open up new avenues in the market. For instance, Siemens has entered into a collaboration with the German government for the completion of the Digital Autobahn Test Field project. A prominent aspect of this project is to construct Germany’s first intelligent bridge.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Intelligent Transportation System Market to Register Substantial Expansion by 2024 here
News-ID: 874556 • Views: 114
More Releases from Transparency Market Research
Ileostomy Market: Projection of Each Major Segment Over the Forecast Period 2027
In terms of revenue, the global ileostomy market is projected to expand at a CAGR of ~7% during the forecast period, due to numerous factors, about which, TMR offers comprehensive insights and forecasts in the global Ileostomy market report. In ileostomy, a stoma is created in the small intestine (ileum), which bypasses the colon, anus, and rectum. An appliance or bag is used to collect all the waste from the ileum.
Lower Extremity Post-operative Orthotics Market: Worldwide Industry Analysis and …
Transparency Market Research (TMR) has published a new report on the lower extremity post-operative orthotics market for the forecast period of 2019–2027. According to the lower extremity post-operative orthotics market report, the global lower extremity post-operative orthotics market was valued at ~US$ 785 Mn in 2018, and is projected to expand at a CAGR of ~5% from 2019 to 2027. Rise in the number of surgeries and favorable government policies
3D Laparoscopy Imaging Systems Market: Market Development, Overview and Forecast …
Transparency Market Research has published a new report on the 3D laparoscopy imaging systems market for the forecast period of 2019–2027. According to the report, the global 3D laparoscopy imaging systems market was valued at ~ US$ 2.8 Bn in 2018, and is projected to expand at a CAGR of 4.5% from 2019 to 2027. Significant awareness among people about the early diagnosis of chronic diseases, increase in applications of
Non-invasive Ventilators Market: Industry Analysis, Opportunity Assessment and F …
Non-invasive Ventilators Market: Introduction Transparency Market Research delivers key insights on the global non-invasive ventilators market. In terms of revenue, the global non-invasive ventilators market is estimated to expand at a CAGR of ~ 6% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in the non-invasive ventilators market report. Obtain Report Details @ https://www.transparencymarketresearch.com/noninvasive-ventilators-market.html Administration of ventilator support without the use of an artificial invasive
More Releases for TMR
Global 3D Animation Market: Snapshot The evolution and introduction of three-dimensional (3D) animation has given the world of animation a new perspective. The process of creating 3D moving images in a digital space through objects or models has given these illusions depth. One of the most fundamental differences between 2D animation and 3D animation is the technique used for creating the images and the way they look. The global 3D animation
Various strategies are leveraged by success-hungry players in the global hyperbaric oxygen therapy devices market. One of them is the thrust on research and development to come up with new or better products. Their focus is on building cost-effective medical devices that would see greater uptake. Strategic partnerships are also being undertaken by them to diversify product portfolios and gain greater share. Further, companies are shifting their gaze to developing
Monolithic Ceramics Market Analysis : TMR
Transparency Market Research has published a new market report titled “Monolithic Ceramics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, the global monolithic ceramics market was valued at US$ 19.43 Bn in 2014 and is anticipated to reach US$ 36.64 Bn by 2023, expanding at a CAGR of 7.3% between 2015 and 2023. Request to view Sample Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3158 Monolithic ceramics are
TMR - 3D Printing Materials Market by 2020
The global 3D printing materials market will exhibit a CAGR of 18.0% between 2014 and 2020. The market was valued at US$450 mn in 2013 and is expected to reach US$1.4 bn by the end of 2020, according to a research report released by Transparency Market Research. The report titled “3D Printing Materials - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020” is available for sale
Wax Market Analysis : TMR
A recent research report published by Transparency Market Research projects the global wax market to expand at a CAGR of 2.6% during the period between 2014 and 2020. The report, titled “Wax Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” estimates the global wax market to be worth US$8.98 bn by 2020. The overall market stood at a valuation of US$8.21 bn in 2013
Sulfone Polymers Market Analysis : TMR
Global Sulfone Polymers Market: Snapshot Several grades/varieties of sulfone polymers have gained vast applicability across a number of industries in the past few years. The relatively higher level of resistance wear and corrosion provided by these materials as compared to metals have increased their usage in medical devices and implants. Owing to their high transparency resistance, low weight, and high performance, the demand for sulfone polymers is also rising in the