openPR Logo
Press release

Intelligent Transportation System Market - Need for Strong Transportation System to Avoid Traffic Problems Swells Demand

03-04-2018 04:58 AM CET | Associations & Organizations

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Intelligent Transportation System Market - Need for Strong

The global intelligent transportation systems (ITS) market has been anticipated in a report by Transparency Market Research (TMR) to be designated as a fairly fragmented type with no industry player clearly exhibiting dominance. There could be a number of regional and international companies operating in the market. Some of the prominent names in the industry are Hitachi, TomTom N.V., and Garmin International. Players have been taking to the adoption of launching novel products in the market and substantially investing in research and development to cement their position in the industry. Such business strategies have been proving to be extremely fruitful for some of the leading market players.

Obtain Brochure@

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.

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.

Obtain Report Details @

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.

About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend 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.

Contact TMR

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
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 - Need for Strong Transportation System to Avoid Traffic Problems Swells Demand here

News-ID: 963465 • Views: 172

More Releases from Transparency Market Research

Voltage Detectors Market – Evolving Technology Trends and Industry SWOT Analys …
The global voltage detectors market includes large number of players. Some of the key players are Texas Instruments, Toshiba, ROHM Semiconductor Sharp Microelectronics, Analog Devices Inc., STMicroelectronics, ON Semiconductor, Torex Semiconductor, Taiwan Semiconductor and Seiko Instruments. Browse Our Report @ Voltage Detector is a testing equipment generally used to determine the existence or absence of an electrical charge in an object. It is highly suggested for conditions where power issues exist.
Switched Capacitor Filters Market : Key Segments, Maket Insights, Regional Outlo …
Major players in the global switched capacitor filters market are Texas Instruments Incorporated, Analog Devices, Inc., Maxim Integrated, Inc., Siemens AG, Eaton Corporation, and among others. Browse Our Report @ A switched capacitor filter is an active filter based on the consideration that a switching of capacitors between two circuit nodes at an adequately high rate that is equivalent to a resistor connecting these two nodes. The switched capacitor filters are
Current Calibrator Market : Recent Industry Developments And Growth Strategies A …
Key players operating in the global current calibrator market include Valhalla Scientific, Rotek Inc., Time Electronics, PCE Instruments, Martel Electronics, AOIP Instrumentation, Extech Instruments, Yogokawa Test & Measurement Corporation, Extech Instruments, REED Instruments, Fluke Corporation, and others. These players are actively focusing on organic and inorganic growth strategies in order to gain a competitive advantage in the market. Some of the important strategies adopted by the leading players in the
Damp Meter Market – Outlook by Responsible Drivers, Restraints, Demand
Key players operating in the global damp meter market include PCE Instrument, Delmhorst Instrument Co., GENERAL TOOLS & INSTRUMENTS LLC, FLIR Systems, Inc. designs, Panomex Inc., These players are actively focusing on organic and inorganic growth strategies in order to gain a competitive advantage in the market. Some of the important strategies adopted by the leading players in the global market are collaborations, partnerships, agreements, and new product launches. The

All 5 Releases

More Releases for TMR

TMR Research
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: 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