The global Intelligent Transportation System (ITS) market was worth USD 14.58 billion in the year 2012 and is expected to reach approximately USD 28.45 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 6.91% during the forecast period.
Intelligent Transportation System (ITS) is a blend of information technology and communication with transportation systems which builds the productivity of transport process and enhances traveler security. A proficient transportation system positively affects the low number of road mishaps, decrease in debilitate discharges and less travel time. Systems as such give comfort to explorers in the case of driving a vehicle independently or utilizing open transport. The requirement for incorporated versatile systems in public transit has been on the ascent because of worries of public safety. Contemporary transportation providers are seeking after flexible vehicle computing systems incorporating portable surveillance, monitoring and tracking to guarantee the security of their travelers and simplify implementation procedure. Nations, for example, India and France are concentrating on usage of these systems attributable to rising interest for enhanced traffic conditions and travel comfort for drivers and in addition pedestrians.
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Intelligent Transportation System (ITS) market: Regional Analysis
In 2015 Asia Pacific represented more than 23 percent income share and is expected to be the quickest developing area inferable from the adoption of ITS in Hong Kong, India, and Australia. Government controls and principles for ITS to deploy self-driving autonomous cars is boosting the requirement for systems like these in the district. For example, in the Republic of Korea, the distribution of ITS has expanded the average traffic speed by 20 percent. In 2015 North America ruled the market attributable to the instigating requirement from public and private division in the United States Government activities and arrangement of security advancements in business vehicles has expanded the buyer base over recent years.
Intelligent Transportation System (ITS) market: Competitive Insights
The leading players in the market are Q-Free, Iteris Inc, Garmin International Inc, Kapsch TrafficCom AG, TomTom andThales Group. Item advancement alongside mergers and acquisitions are the key procedures adopted by industry players. For example, Agero Inc. reported an association with Cambridge Mobile Telematics to create accident management solutions on real-time basis.
The global Intelligent Transportation System is segmented as follows-
Intelligent Transportation System (ITS) market: By Type
- Cooperative vehicle system
Intelligent Transportation System (ITS) market: By Application
- Environment protection
- Traffic management
- Road user charging
- Road safety and security
- Automotive telematics
- Freight management
- Public transport
- Parking management
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Major Points TOC:
- Executive Summary
- Market Overview
- Intelligent Transportation System (ITS) Market, By Type
- Intelligent Transportation System (ITS) Market, By Application
- Intelligent Transportation System (ITS) Market, By Region
- Company Profiles
7.1. ADCCO LLC
7.1.1. Business Overview
7.1.2. Product Portfolio
7.1.3. Key Financials
7.1.4. Strategic Developments
7.2. Agero Inc.
7.2.1. Business Overview
7.2.2. Product Portfolio
7.2.3. Key Financials
7.2.4. Strategic Developments
…CONTINUED FOR TOC
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