Intelligent Transport System meets IoT to Promote Smart, Scalable and Safe Urban Mobility

Intelligent transportation systems are revolutionizing the way people and goods move through busy cities and traffic corridors. With the integration of smart city technologies, including sensors, telematics, connected vehicle technologies and analytics, it is quite easy to optimize traffic patterns and reduce congestion as well as make transportation systems more efficient and reliable.

This industry research report identifies 3M, Kapsch Group, Neology, Q-Free, Siemens, and TransCore as the key vendors in the global intelligent transport system (ITS) market. This industry research report also presents a competitive analysis of the market by solution type (network management, automotive and infotainment telematics, road safety system, communication ITS, security and crime reduction, freight and commercial ITS, and public transport ITS) and by geography (the Americas, APAC, and EMEA).

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Overview of the global intelligent transport system (ITS) market
Market research analysts at Technavio predict that the global ITS market will grow steadily during the next four years at a CAGR of almost 9% by 2021. This market research analysis identifies the increasing road traffic congestion in Asian countries as one of the primary growth factors for this market. It has been observed that due to the increase in disposable income, the vehicle sales in the Asian countries will witness considerable growth in the coming years. In addition to the high percentage of car-owned population, this rise in vehicle sales will result in increasing road traffic congestion. This will in turn induce governments to take initiatives such as congestion charging and road user charging to control the road traffic congestion, which will subsequently aid in the growth of this global market.

Realizing the need for ITS, several countries have already started investing in research and developmental activities to develop new products. The development of eCall systems equipped with satellite positioning, sensors, and wireless communication is one such innovation. eCall systems help in efficient recovery during accidents by sending information regarding the vehicle’s location, type of incident, and other driver details. Additionally, new traffic management systems that safeguard vehicles and provide driving assistance by providing data about the road and transport conditions are also being developed. According to our market research analysts, such innovations in ITS will be one of the major trends that will gain traction in the ITS market during the next few years.

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Competitive landscape and key vendors
Characterized by the presence of both regional and international players, the ITS market appears to be highly competitive. Though the market offers equal growth opportunities to both the regional and international players, the global players have a better opportunity in securing high value contract orders. The small players usually compete in terms of product pricing, whereas the competition among the well-established players is based on product features.

The leading vendors in the market are -

3M
Kapsch Group
Neology
Q-Free
Siemens
TransCore
The other prominent vendors in the market are ADDCO LLC, Agero, DENSO CORPORATION, EFKON, International Road Dynamics, KLD Engineering, Lanner, Peek Traffic Corporation, and Traffic Tech (Gulf).

Segmentation by solution type and analysis of the ITS market
Network management
Automotive and infotainment telematics
Road safety system
Communication ITS
Security and crime reduction
Freight and commercial ITS
Public transport ITS
During 2016, the network management segment accounted for the major shares of this global market. The growing demand for advance traffic management system (ATMS) from the municipal and state governments owing to the growing costs due to transportation congestion, will be one of the major factors fueling the growth of this market segment during the next few years.

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Geographical segmentation and analysis of the ITS market
Americas
APAC
EMEA
This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the ITS market throughout the forecast period. The rise in vehicle theft, the growing concerns related to transportation safety, and the presence of a large number of private enterprises, will be the major factors fueling the growth of the market in this region.

Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global ITS market?
What are the key market trends impacting the growth of the global ITS market?
What are the challenges to market growth?
Who are the key vendors in the global ITS market?
What are the market opportunities and threats faced by the vendors in the global ITS market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global ITS market

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