Full Detailed Description of Intelligent Transportation System
Market is available at:
Intelligent transportation systems (ITS) integrate existing
transportation networks with the latest information and communication
technologies to improve their operational efficiency as well as
individual travel experience. The technology achieves the same by the
effective use of sensors, communication devices, telematics, and data
analysis applications. The implementation of the ITS technology will
help reduce traffic congestion and consequent delays. Most
importantly, though, it will improve road safety.
The report segments the global intelligent transportation systems
market on the basis of product type, applications, and geography for
the purpose of the study. Using industry-leading analytical tools
such as SWOT analysis, the report weighs out the strengths and
weaknesses of the market and evaluates the opportunities and threats
that the market is likely to witness in the near future.
Overview of the Global Intelligent Transportation System (ITS)
Market
The global intelligent transportation system market, exhibiting a
CAGR of 11.1%, is anticipated to reach a valuation of US$30.2 billion
by 2019. The escalating need to improve the existing traffic network
and growing focus on road safety will bolster the market for
intelligent transportation systems. Apart from road safety, ITS also
provides economic benefits such as curbing the incidence of road
accidents and reduced travelling delays and fuel consumption. Such
factors aid the growth of the global ITS market.
Growing prevalence of standardization of wireless communication
technologies provides immense potential and the global ITS market is
anticipated to grow at a fast pace over the next couple of years,
propelled by this opportunity. However, inadequate interoperability
between existing infrastructure and advanced intelligent
transportation systems is anticipated to impede growth of the global
ITS market to an extent. The economic slowdown in various parts of
the world in recent years is also likely to have an adverse impact on
the overall market operations.
By type, the segment of ATMS (advanced transportation management
systems) held the largest share in the global ITS market. However,
increased funding in dynamic display systems will boost the market
segment of APTS (advanced public transportation systems) in the
coming years. Whilst in terms of application, the segment of traffic
management led the market in 2012, adoption of the latest strategies
to curb carbon emission is expected to fuel the segment of
environmental protection in the forthcoming years.
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Regionally, North America leads the global ITS market, occupying over
42.2% of the market. However, increasing investment to develop
infrastructural facilities across Asia Pacific will foster
exponential growth opportunities for the intelligent transportation
systems market in the region. The market is likely to witness strong
demand from India, Malaysia, China, and Thailand.
Companies mentioned in the research report
Leading companies profiled in the report include Hitachi Ltd, Sensys
Networks Incorporation, Telenav, Inc., Garmin International Inc.,
Kapsch TrafficCom AG, TransCore Inc., Nuance Communications
Incorporation, Xerox Corporation, WS Atkins PLC, Ricardo PLC, and
others.
The global intelligent transportation system market is segmented
as below:
By type
>Advanced traveler information systems (ATIS)
>Advanced transportation management systems (ATMS)
>Advanced transportation pricing systems (ATPS)
>Advanced public transportation systems (APTS)
>Cooperative systems
By application
> Traffic management
> Road safety and surveillance
> Freight management
> Public transport
> Environment protection
> Automotive telematics
> Parking management
> Road user charging
By Geography
> North America
> Europe
> Asia Pacific
> Rest of the World
Brochure for the Report of Intelligent Transportation System
Market can be downloaded at:
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