The global demand for Intelligent Transportation System Market is presumed to reach the valuation of nearly USD XX Mn by 2028 from USD XX in 2021 with a CAGR of XX% under the study period of 2022- 2028.
An intelligent transportation system is an improved application which enabled to provide modern services in transport and traffic management. Intelligent transport systems provides variety in technologies, from basic management systems such as car navigation to more advanced applications that incorporate live data such as parking guidance and information systems. ITS combines various advanced technologies to form a network of systems that assist in managing traffic and help for better transportation for users, businesses, and government.
It is designed to providing advanced transport management solutions like fleet management, traffic management, smart ticketing solutions, smart parking assistance system, passenger information solution and mobility services. High traffic blocking due to rising number of vehicles has provided demand for advanced public traffic management systems empowering quickly respond to emergencies and accidents with more efficiency. Intelligent parking management systems facilitate parking operators to offer a high level of convenience to users and reduce the wastage of time.
The increasing number of mega cities, the population growth and recent government initiatives on transport and traffic management, are the important driving factor for the market growth. The intelligent transportation system market is expected to accelerate growth over the forecast timeline due to an increase in the adoption of smart transport systems by people to reduce traffic jamming problems and favorable government initiatives on smart transport infrastructure. Rising technological advancements, globalization, and the growing trend of intelligent airways systems attributing rising prosperity in economies.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application and system segment in the global market of intelligent transportation system.
The entire intelligent transportation system market has been sub-categorized into type, application, and end-user. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
- Traffic Monitoring
- Collision Avoidance Systems
- Fleet Management & Asset Monitoring
- Traffic Signal Control Systems
- Parking Availability Systems
- Variable Traffic Message Signs
- Traffic Enforcement Cameras
- Advanced Traveler Information System
- Vehicle-to-Vehicle Interaction and Vehicle-to-Infrastructure Interaction
- Advanced Traffic Management System
- Advanced Public Transportation System (APTS)
- Commercial Vehicle Operation
- ITS - Enabled Transportation Pricing System
This section covers regional segmentation which accentuates on current and future demand for intelligent transportation system market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Intelligent Transportation System Market Share by Region (Representative Graph) Market By Revenue
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Intelligent transportation system market include Affiliated Computer Services, Inc., Denso Corporation, Agero, Inc., Addco Llc, Lanner Electronics, Inc., Nuance Communications, Inc., Ricardo Plc, Sensys Networks, Inc., Telenav, Inc., Efkon AG and Thales Group. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers& acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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